|TOWER SEMICONDUCTOR LTD filed this Form 20-F on 04/10/2017|
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in thousands, except per share data)
NOTE 15 - EMPLOYEE RELATED LIABILITIES (cont.)
Jazz Pension Plan (cont.)
The plan’s assets measured at fair value on a recurring basis consisted of the following as of as of December 31, 2016:
The plan’s assets measured at fair value on a recurring basis consisted of the following as of as of December 31, 2015:
Jazz’s pension plan weighted average asset allocations on December 31, 2016, by asset category are as follows:
Jazz’s primary policy goals regarding the plan’s assets are cost-effective diversification of plan assets, competitive returns on investment, and preservation of capital. Plan assets are currently invested in mutual funds with various debt and equity investment objectives. The target asset allocation for the plan assets is 40% debt, or fixed income securities, and 60% equity securities. Individual funds are evaluated periodically based on comparisons to benchmark indices and peer group funds and investment decisions are made by Jazz in accordance with the policy goals. Actual allocation to each asset category fluctuates and may not be within the target specified above due to changes in market conditions.
The estimated expected return on assets of the plan is based on assumptions derived from, among other things, the historical return on assets of the plan, the current and expected investment allocation of assets held by the plan and the current and expected future rates of return in the debt and equity markets for investments held by the plan. The obligations under the plan could differ from the obligation currently recorded if management's estimates are not consistent with actual investment performance.
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