10) PENSION PLAN

We maintain contributory and non-contributory retirement plans for eligible employees. Our contributions to the contributory plan amounted to $21.7 million, $20.8 million and $20.4 million in 2011, 2010 and 2009, respectively. The non-contributory plan is a defined benefit pension plan which covers employees of one of our subsidiaries. The benefits are based on years of service and the employee's highest compensation for any five years of employment. Our funding policy is to contribute annually at least the minimum amount that should be funded in accordance with the provisions of ERISA.

The following table shows the reconciliation of the defined benefit pension plan as of December 31, 2011 and 2010:


	2011			2010
	(000s)
Change in plan assets:
Fair value of plan assets at beginning of year	$	73,402		$	61,451
Actual return (loss) on plan assets		5,689			10,027
Employer contributions		14,065			6,657
Benefits paid		(4,541	)		(4,256	)
Administrative expenses		(675	)		(477	)

Fair value of plan assets at end of year	$	87,940		$	73,402
Change in benefit obligation:
Benefit obligation at beginning of year	$	93,513		$	85,476
Service cost		1,162			1,140
Interest cost		5,047			4,958
Benefits paid		(4,541	)		(4,256	)
Actuarial (gain) loss		13,265			6,195

Benefit obligation at end of year	$	108,446		$	93,513
Amounts recognized in the Consolidated Balance Sheet:
Other noncurrent liabilities		20,506			20,110

Total liability at end of year	$	20,506		$	20,110

Additional year end information for Pension Plan
Projected benefit obligation	$	108,446		$	93,513
Accumulated benefit obligation		106,609			91,559
Fair value of plan assets		87,940			73,402


	2011			2010			2009
	(000s)
Components of net periodic cost (benefit)
Service cost	$	1,162		$	1,140		$	1,191
Interest cost		5,047			4,958			4,834
Expected return on plan assets		(6,566	)		(5,151	)		(3,927	)
Recognized actuarial loss		2,427			2,538			4,676

Net periodic cost	$	2,070		$	3,485		$	6,774


	2011		2010
Measurement Dates
Benefit obligations		12/31/2011		12/31/2010
Fair value of plan assets		12/31/2011		12/31/2010


	2011			2010
Weighted average assumptions as of December 31
Discount rate		4.40	%		5.54	%
Rate of compensation increase		4.00	%		4.00	%


	2011			2010			2009
Weighted-average assumptions for net periodic benefit cost calculations
Discount rate		5.54	%		5.96	%		5.87	%
Expected long-term rate at return on plan assets		8.00	%		8.00	%		8.00	%
Rate of compensation increase		4.00	%		4.00	%		4.00	%

The accumulated benefit obligation was $106,609 and $91,559 as of December 31, 2011 and 2010, respectively. The accumulated benefit obligation exceeded the fair value of plan assets as of December 31, 2011 and 2010. In 2011 and 2010, the accrued pension cost is included in non-current liabilities in the accompanying Consolidated Balance Sheet. We estimate that there will be $4,219 of net loss that will be amortized from accumulated other comprehensive income over the next fiscal year.

Our pension plans assets were $87,940 and $73,402 at December 31, 2011 and 2010, respectively. The market values of our pension plan assets at December 31, 2011 and December 31, 2010 by asset category are as follows:


December 31, 2011	Total		Level 1		Level 2		Level 3
Equities:
U.S. Large Cap	$	18,921	$	—	$	18,921	$	—
U.S. Mid Cap		1,281		—		1,281		—
U.S. Small-Mid Cap		6,332		—		6,332		—
U.S. Small Cap		1,282		—		1,282		—
International Developed		8,692		—		8,692		—
Emerging Markets		3,123		—		3,123		—
Fixed income:
Long Duration Fixed Income		44,587		—		44,587		—
Real Estate:
REIT Fund		3,269		—		3,269		—
Tangible Assets:
Commodities		—		—		—		—
Cash/Currency:
Cash Equivalents		453		—		453		—

Total market value	$	87,940	$	—	$	87,940	$	—


December 31, 2010	Total		Level 1		Level 2		Level 3
Equities:
U.S. Large Cap	$	22,010	$	—	$	22,010	$	—
U.S. Mid Cap		1,468		—		1,468		—
U.S. Small-Mid Cap		6,295		—		6,295		—
U.S. Small Cap		1,471		—		1,471		—
International Developed		10,353		—		10,353		—
Emerging Markets		3,709		—		3,709		—
Fixed income:
Core Fixed Income		11,542		—		11,542		—
Long Duration Fixed Income		11,421		—		11,421		—
Real Estate:
REIT Fund		3,740		—		3,740		—
Tangible Assets:
Commodities		—		—		—		—
Cash/Currency:
Cash Equivalents		1,393		—		1,393		—

Total market value	$	73,402	$	—	$	73,402	$	—

To develop the expected long-term rate of return on plan assets assumption, we considered the historical returns and the future expectations for returns for each asset class, as well as the target asset allocation of the pension portfolio.

The following table shows expected benefit payments for the years ended December 31, 2011 through 2021 for our defined pension plan. There will be benefit payments under this plan beyond 2021.


Estimated Future Benefit Payments (000s)
2012	$	5,100
2013		5,400
2014		5,664
2015		5,895
2016		6,117
2017-2021		33,216

Total	$	61,392


	2011			2010
Plan Assets
Asset Category
Equity securities		45	%		62	%
Fixed income securities		50	%		31	%
Other		5	%		7	%

Total		100	%		100	%

Investment Policy, Guidelines and Objectives have been established for the defined benefit pension plan. The investment policy is in keeping with the fiduciary requirements under existing federal laws and managed in accordance with the Prudent Investor Rule. Total portfolio risk is regularly evaluated and compared to that of the plan's policy target allocation and judged on a relative basis over a market cycle. The following asset allocation policy and ranges have been established in accordance with the overall risk and return objectives of the portfolio:


	Policy			As of 12/31/11			Permitted Range
Total Equity		46	%		45	%		43-49	%
Total Fixed Income		50	%		50	%		45-55	%
Other		4	%		5	%		0-10	%

In accordance with the investment policy, the portfolio will invest in high quality, large and small capitalization companies traded on national exchanges, and investment grade securities. The investment managers will not write or buy options for speculative purposes; securities may not be margined or sold short. The manager may employ futures or options for the purpose of hedging exposure, and will not purchase unregistered sectors, private placements, partnerships or commodities.