Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 297

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 297
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 bargaining agreement signed between TSNB and its collective bargaining unit employees.
Post-Retirement Medical Plan
The components of the net periodic benefit cost and other amounts recognized in other comprehensive income for post-retirement medical plan expense are as follows as of December 31, 2024, 2023 and 2022:
Details 2024 2023 2022
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Net periodic benefit cost:
Service cost $ 2 $ 2 $ 4
Interest cost 65 71 57
Amortization of prior service costs - - -
Amortization of net (gain) loss ( 272 ( 282 ( 157
Total net periodic benefit cost $ ( 205 $ ( 209 $ ( 96
Other changes in plan assets and benefits obligations recognized in other comprehensive income:
Prior service cost for the period $ - $ - $ -
Net (gain) loss for the period ( 149 ( 195 ( 515
Amortization of prior service costs - - -
Amortization of net gain (loss) 272 282 157
Total recognized in other comprehensive income $ 123 $ 87 $ ( 358
Total recognized in net periodic benefit cost and other comprehensive income $ ( 82 $ ( 122 $ ( 454
Weighted average assumptions used:
Discount rate 5.00 5.10 3.00
Expected return on plan assets N/A N/A N/A
Rate of compensation increases N/A N/A N/A
Assumed health care cost trend rates:
Health care cost trend rate assumed for current year (pre-65/post-65 Medicare Advantage) 8.20%/ 11.00 7.30%/ 9.25 6.00%/ 8.50
Health care cost trend rate assumed for current year (pre-65/post-65 Non-Medicare Advantage) 8.20%/ 8.70 7.30%/ 8.30 6.00%/ 6.40
Ultimate rate (pre-65/post-65) 4.50%/ 4.50 4.50%/ 4.50 4.50%/ 4.50
Year the ultimate rate is reached (pre-65/post-65) 2033 / 2033 2031 / 2031 2031 / 2031