The accumulated benefit obligation for all pension plans was $2.36 billion and $2.03 billion as of December 28,  2014 and December 29, 2013, respectively. Information for pension plans with an accumulated benefit obligation in excess of plan assets was as follows: Weighted-average assumptions used in the actuarial computations to determine benefit obligations for  qualified pension plans were as follows: The rate of increase in compensation levels is applicable only for qualified pension plans that have not been  frozen. Weighted-average assumptions used in the actuarial computations to determine net periodic pension cost for  qualified plans were as follows: Weighted-average assumptions used in the actuarial computations to determine benefit obligations for non- qualified plans were as follows: The rate of increase in compensation levels is applicable only for the non-qualified pension plans that have not  been frozen. Weighted-average assumptions used in the actuarial computations to determine net periodic pension cost for  non-qualified plans were as follows: We determined our discount rate using a Ryan ALM, Inc. Curve (the “Ryan Curve”). The Ryan Curve provides  the bonds included in the curve and allows adjustments for certain outliers (e.g., bonds on “watch”). We believe the  Ryan Curve allows us to calculate an appropriate discount rate. THE NEW YORK TIMES COMPANY – P. 81 Assumptions (Percent) December 28, 2014 December 29, 2013 December 30, 2012 Discount rate 4.60% 3.70% 4.80% Rate of increase in compensation levels 2.50% 3.00% 3.50% (Percent) December 28, 2014 December 29, 2013 Discount rate 3.90% 4.60% Rate of increase in compensation levels 2.50% 2.50% (Percent) December 28, 2014 December 29, 2013 December 30, 2012 Discount rate 4.90% 4.00% 5.05% Rate of increase in compensation levels 2.87% 3.50% 3.00% Expected long-term rate of return on assets 7.02% 7.85% 8.00% (Percent) December 28, 2014 December 29, 2013 Discount rate 4.05% 4.90% Rate of increase in compensation levels 2.89% 2.55% (In thousands) December 28, 2014 December 29, 2013 Projected benefit obligation $ 2,369,397 $ 2,041,148 Accumulated benefit obligation $ 2,362,050 $ 2,034,145 Fair value of plan assets $ 1,837,250 $ 1,698,091