Obtain the annual statements for BCE Inc. for the year ended December 31, 2009, from the company's website or SEDAR (www.sedar.com).
Instructions
Refer to the 2009 financial statements of BCE Inc and answer the following questions.
(a) Determine what the funded status is of the defined benefit plans and what the dollar amount of the over- or underfunding is at December 31, 2009, and December 31, 2008. Has the status improved or deteriorated since the end of the preceding year? What is the major reason for the change in BCE's funded status? What is the status of the plans in the net deficit position and what is the status of the plans in a net surplus position at December 31, 2009?
(b) What is the amount of the pension asset or liability reported on BCE's December 31, 2009 balance sheet? Provide reconciliation to the funded status reported in (a). Comment on this representation.
(c) What was the expected return on the plan assets in 2009? What was the actual return on the plan assets for the year? What amount of actuarial gains and losses, if any, were amortized to pension expense in 2009? What was the total amount of actuarial gains and losses arising during the year? How much has not yet been recognized in the accounts at December 31, 2009? How much was recognized for past service costs during the year? What was the total amount of past service costs arising during the year? How much has not yet been recognized in the accounts at December 27, 2009?
(d) What was the expense that the company reported for its defined benefit plans? Estimate the amount of expense that would have been reported under the immediate recognition approach for December 31, 2009. Comment on any differences.
(e) What type of post-retirement plans does the company have? Are these in a surplus or deficit position? What were the balances reported for these plan obligations? How do these balances compare with the actual deficits or surpluses in the plans and why?
(f) What is the total expense for the defined contribution plans during 2009? 2008?