Company: STAA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024813
Chunk: 128

Company: STAAR SURGICAL CO
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 128
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ated Statements of Operations.(2)	Recognized in other income, net, on the Consolidated Statements of Operations.(3)	Amounts reclassified from accumulated other comprehensive income (loss).Changes in other comprehensive income (loss), net of tax, associated with the Swiss Plan included the following components (in thousands): 

        Years Ended

        2024

        2023

        2022

        Current year actuarial gain (loss) on plan assets
         
        $
        (1,326
        )
         
        $
        1,316

        $
        (432
        )

        Current year actuarial gain (loss) on benefit obligation

        (619
        )

        (4,847
        )

        6,251

        Actuarial gain recorded in current year

        103

        2

        348

        Prior service credit

        120

        (161
        )

        (160
        )

        Change in other comprehensive gain (loss)
         
        $
        (1,722
        )
         
        $
        (3,690
        )
         
        $
        6,007

      Net periodic pension cost and projected and accumulated pension obligation for the Company’s Swiss Plan were calculated using the following assumptions: 

        2024

        2023

        Discount rate

        1.0
        %

        1.5
        %

        Salary increases

        2.5
        %

        2.5
        %

        Expected return on plan assets

        3.0
        %

        3.0
        %

        Expected average remaining working lives in years

        9.8

        9.5

       The discount rates are based on an assumed duration of the pension obligations and estimated using the rates of returns for AAA and AA-rated Swiss and foreign CHF-denominated corporate bonds listed on the SIX Swiss Exchange. The salary increase rate was based on the Company’s best estimate of future increases over time.  The expected long-term rate of return on plan assets is based on the expected asset allocation and assumptions concerning long-term interest rates, inflation rates, and risk premiums for equities above the risk-free rates of return. These assumptions take into consideration historical long-term rates of return for relevant asset categories. Under Swiss law, pension funds are legally independent from the employer and all the contributions are invested with regulated entities. The