40 In December 2001, the company contributed $300 million to the Gannett Retirement Plan. The following table provides a reconciliation of benefit obli- gations, plan assets and funded status of the company’s retire- ment plans. The related amounts that are recognized in the Consolidated Balance Sheets for the company’s retirement plans also are provided. The company provides health care and life insurance benefits to  certain retired employees who meet age and service require- ments. Most of the company’s retirees contribute to the cost of these benefits and retiree contributions are increased as actual benefit costs increase. The cost of providing retiree health care and life insurance benefits is actuarially determined and accrued over the service period of the active employee group. Postretirement benefit cost for health care and life insurance for 2001, 2000 and 1999 included the following components: The net benefit obligation was determined using an assumed  discount rate of 7.25% and 7.625% at the end of 2001 and 2000, respectively. The assumed rate of compensation increase was 4.0% and 4.5% at the end of 2001 and 2000, respectively. The assumed long-term rate of return on plan assets used in determining pension cost was 10%. Retirement plan assets include approximately 1,242,300 shares of the company’s  common stock valued at approximately $84 million and $78  million at the end of 2001 and 2000, respectively. In thousands of dollars Dec. 30, 2001 Dec. 31, 2000 Change in benefit obligation Net benefit obligation at  beginning of year  $ 2,046,283 $1,470,403 Service cost 70,643 61,905 Interest cost 150,935 129,601 Plan participants’ contributions 6,559 6,080 Actuarial loss 32,636 45,636 Acquisitions/plan mergers 4,308 444,522 Gross benefits paid (129,062) (111,864) Net benefit obligation at  end of year $ 2,182,302 $2,046,283 Change in plan assets Fair value of plan assets at  beginning of year  $ 2,309,968 $1,763,141 Actual return on plan assets (511,625) 29,546 Plan participants’ contributions 6,559 6,080 Employer contributions 308,015 8,471 Acquisitions/plan mergers 6,549 614,594 Gross benefits paid (129,062) (111,864) Fair value of plan assets at  end of year $ 1,990,404 $2,309,968 Funded status at end of year $ (191,898) $ 263,685 Unrecognized net actuarial loss (gain) 738,079 (6,024) Unrecognized prior service credit (176,799) (197,324) Unrecognized net transition asset (146) (200) Net amount recognized at end of year $ 369,236 $ 60,137 Amounts recognized in Consolidated Balance Sheets Prepaid benefit cost $ 461,743 $ 142,807 Accrued benefit cost $ 92,507 $ 82,670 2001 2000 1999 Service cost - benefits earned during the period $ 6,512 $ 5,247 $ 3,796 Interest cost on net benefit  obligation  24,674 19,865 14,901 Amortization of prior service credit (7,728) (7,018) (8,478) Amortization of actuarial (gain) loss (10) (240) 20 Net periodic postretirement  benefit cost $23,448 $17,854 $10,239 Dec. 30, 2001 Dec. 31, 2000 Change in benefit obligation Net benefit obligation at  beginning of year  $ 363,767 $ 215,593 Service cost 6,512 5,247 Interest cost 24,674 19,865 Plan participants’ contributions 8,204 5,626 Plan amendment (58,009) — Actuarial loss  13,095 40,801 Acquisitions/plan mergers — 102,000 Gross benefits paid (33,912) (25,365) Net benefit obligation at  end of year $ 324,331 $ 363,767 Change in plan assets Fair value of plan assets at  beginning of year  –– –– Employer contributions 25,708 19,739 Plan participants’ contributions 8,204 5,626 Gross benefits paid  (33,912) (25,365) Fair value of plan assets at  end of year –– –– Benefit obligation at end of year $ 324,331 $ 363,767 Unrecognized net actuarial (loss) (18,949) (19,950) Unrecognized prior service credit 103,670 59,711 Accrued postretirement benefit cost $ 409,052 $ 403,528 In thousands of dollars The table below provides a reconciliation of benefit obligations and funded status of the company’s postretirement benefit plans: In thousands of dollars NOTE 6 Postretirement benefits other than pensions