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fifillslEil
129
23 Pensions and other post-employment benefits (continued)
Ahold at a glance
Our strategy
Our performance
Governan
Financials
Investors
Ahold Annual Report 2013
Notes to the consolidated
financial statements
December 29, 2013
December 30, 2012
million
Date of Annual
latest information contributions
Plan
deficit
(surplus)
Ahold's
participation
Ahold's
proportionate
share of
deficit
(surplus)
Annual
contributions
Plan
deficit
(surplus)
Ahold's
participation
Ahold's
proportionate
share of
deficit
(surplus)
FELRA UFCW Food Pension Fund
Jan.
1, 2013
26
716
61.2%
438
33
828
60.3%
499
Mid-Atlantic UFCW Participating
Employers Pension Fund
6
New England Teamsters Trucking Industry Pension
original pool
Oct.
1, 2012
6
2,907
3.0%
87
New England Teamsters Trucking Industry Pension
new pool
6
UFCW Local 1262 Employers Pension Fund
Jan.
1, 2012
6
167
22.6%
38
7
224
21.5%
48
United Food Commercial Workers Intl Union -
Industry Pension Fund
July
1, 2012
17
(357)
21.9%
(78)
17
(99)
22.0%
(22)
UFCW Local 1500 Pension Plan
Jan.
1, 2013
6
132
26.8%
35
6
138
25.8%
36
Warehouse Employees' Union Local 730 Pension Trust
Fund
Jan.
1, 2013
2
66
59.5%
39
2
87
53.7%
47
Other plans
various
5
3,699
1.3%
9
6
5,155
1.2%
37
Total
74
4,423
481
77
9,240
732
These are new plans in 2013 and Ahold has not yet received the valuation reports from the plan administrators.
In 2012 a restructuring took place regarding the FELRA UFCW Food Pension Fund. Under the restructuring, the Mid-Atlantic UFCW Participating Employers Pension Fund was created for
future service accruals for active Giant Landover employees. Both plans are funded by Ahold USA and any other participating employers. It is anticipated that the contribution levels of the Mid-
Atlantic UFCW Participating Employers Pension Fund will be sufficient to fully fund benefits earned by the employees of Ahold USA and other participating employers.
During 2013, Stop Shop reached an agreement with the New England Teamsters and Trucking Industry Pension Fund (NETTI) to settle Stop Shop's pension liabilities in the fund. This
agreement follows NETTI's restructuring to create a new future benefit service "pool." Employers who participate in the new pool will be responsible only for the pension benefits of their own
employees, without regard to any previous fund liabilities in the original pension pool. Under the settlement agreement, Stop Shop has moved its employees into the new pool, effective
March 31, 2013, without any loss of benefits for its employees and will settle its liability and payment obligations in the original pension pool through the payment of $100 million (€76 million),
payable in two equal installments of $50 million, the first paid on June 22, 2013, and the second due by April 30, 2025.
If the underfunded liabilities of the multi-employer pension plans are not reduced, either by improved market conditions or collective bargaining changes, increased future payments by the
Company and the other participating employers may result. However, all future increases will be subject to the collective bargaining process. In 2014, the Company expects its contributions to
decrease to €72 million. Moreover, if the Company were to exit certain markets or otherwise cease making contributions to these funds, the Company could trigger a substantial withdrawal
liability. Any adjustment for withdrawal liability will be recorded when it is probable that a liability exists and the amount can be reasonably estimated. Except for the NETTI withdrawal liability
payment mentioned above, no other withdrawal payments were incurred or included in the 2013 and 2012 contributions disclosed above. Ahold's risk of increased contributions and
withdrawal liabilities may be greater if any of the participating employers in an underfunded multi-employer plan withdraw from the plan or, due to insolvency, are not able to contribute an
amount sufficient to fund the underfunded liabilities associated with their participants in the plan.