AIG 2015 Annual Report Download - page 323

ITEM 8 / NOTE 20. EMPLOYEE BENEFITS
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323
Acquisitions --72 - - ---
Other --14 (2) - ---
Projected benefit obligation, end of year $5,324 $ 5,769 $1,146 $ 1,099 $ 208 $ 229 $75 $64
Change in plan assets:
Fair value of plan assets, beginning
of year $4,111 $ 4,024 $708 $ 738 $ - $ - $ - $-
Actual return on plan assets, net of expenses (8) 266 47 71 - ---
AIG contributions 558 115 62 67 11 11 11
Benefits paid:
AIG assets (17) (15) (9) (15) (11) (11) (1) (1)
Plan assets (285) (279) (24) (24) - ---
Settlements --(15) (8) - ---
Foreign exchange effect --(44) (75) - ---
Acquisitions --35 - - ---
Other --13 (46) - ---
Fair value of plan assets, end of year $4,359 $ 4,111 $773 $ 708 $ - $ - $ - $-
Funded status, end of year $(965) $ (1,658) $(373) $ (391) $ (208) $ (229) $(75) $ (64)
Amounts recognized in the balance
sheet:
Assets $ - $-
$46 $46 $ - $ - $ - $-
Liabilities (965) (1,658) (419) (437) (208) (229) (75) (64)
Total amounts recognized $(965) $ (1,658) $(373) $ (391) $ (208) $ (229) $(75) $ (64)
Pre-tax amounts recognized in Accumulated
other comprehensive income:
Net gain (loss) $(1,324) $ (1,667) $(161) $ (227) $ 13 $ (9) $(16) $(8)
Prior service (cost) credit -200 (16) 11 13 24 -1
Total amounts recognized $(1,324) $ (1,467) $(177) $ (216) $ 26 $ 15 $(16) $(7)
(a) We do not currently fund postretirement benefits.
(b) Includes non-qualified unfunded plans of which the aggregate projected benefit obligation was $299 million and $325 million for the U.S. and $199 million
and $295 million for the non-U.S. at December 31, 2015 and 2014, respectively.
The following table presents the accumulated benefit obligations for U.S. and non-U.S. pension benefit plans:
At December 31,
(in millions) 2015 2014
U.S. pension benefit plans $ 5,324 $ 5,601
Non-U.S. pension benefit plans $ 1,109 $ 1,040
Defined benefit plan obligations in which the projected benefit obligation was in excess of the related plan assets and
the accumulated benefit obligation was in excess of the related plan assets were as follows:
At December 31, PBO Exceeds Fair Value of Plan Assets ABO Exceeds Fair Value of Plan Assets
U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans
(in millions) 2015 2014 2015 2014 2015 2014 2015 2014
Projected benefit obligation $ 5,324 $ 5,769 $999 $ 843 $5,324 $ 5,769
$912 $ 757
Accumulated benefit obligation 5,324 5,601 896 746 5,324 5,601 889 740
Fair value of plan assets 4,359 4,111 506 342 4,359 4,111 497 329