Aetna 2011 Annual Report Download - page 96
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Annual Report- Page 90
Separate Accounts financial assets at December 31, 2011 and 2010 were as follows:
(Millions)
Debt securities
Equity securities
Derivatives
Total (1)
2011
Level 1
$ 1,079.1
936.0
—
$ 2,015.1
Level 2
$ 2,817.8
—
(5.0)
$ 2,812.8
Level 3
$ —
—
—
$ —
Total
$ 3,896.9
936.0
(5.0)
$ 4,827.9
2010
Level 1
$ 1,059.7
1,231.9
—
$ 2,291.6
Level 2
$ 2,524.9
—
.2
$ 2,525.1
Level 3
$ 56.0
—
—
$ 56.0
Total
$ 3,640.6
1,231.9
.2
$ 4,872.7
(1) Excludes $390.3 million and $422.6 million of cash and cash equivalents and other receivables at December 31, 2011 and 2010,
respectively.
There were no transfers between Levels 1 and 2 during the years ended December 31, 2011 and 2010.
The change in the balance of Level 3 Separate Accounts financial assets for the years ended December 31, 2011 and
2010 was as follows:
(Millions)
Balance at December 31, 2009
Total losses accrued to contract holders
Purchases, sales and settlements
Transfers out of Level 3
Balance at December 31, 2010
Total losses accrued to contract holders
Purchases
Sales
Transfers out of Level 3
Balance at December 31, 2011
Debt
Securities
$ 97.3
(60.4)
19.8
(.7)
56.0
(15.6)
.4
(39.7)
(1.1)
$ —
Real Estate
$ 71.4
5.2
.2
(76.8)
—
—
—
—
—
$ —
(1)
Total
$ 168.7
(55.2)
20.0
(77.5)
56.0
(15.6)
.4
(39.7)
(1.1)
$ —
(1) The transfers out of level 3 for 2010 primarily represent real estate Separate Accounts assets that were transitioned out of our business in
the second quarter of 2010.
11. Pension and Other Postretirement Plans
Defined Benefit Retirement Plans
We sponsor various defined benefit plans, including two pension plans, and OPEB plans that provide certain health
care and life insurance benefits for retired employees, including those of our former parent company.
On August 31, 2010, we announced that pension eligible employees will no longer earn future pension service
credits in our tax-qualified noncontributory defined benefit pension plan (the “Aetna Pension Plan”) effective
December 31, 2010 (i.e., the plan was "frozen"). The Aetna Pension Plan will continue to operate and account
balances will continue to earn annual interest credits. As a result of this action, we re-measured our pension assets
and obligations as of August 31, 2010.
During 2011, 2010 and 2009, we made $60 million, $505 million and $45 million, respectively, in voluntary cash
contributions to the Aetna Pension Plan.
We also sponsor a non-qualified supplemental pension plan that, prior to January 1, 2007, had been used to provide
benefits for wages above the Internal Revenue Code wage limits applicable to tax qualified pension plans (such as
the Aetna Pension Plan). Effective January 1, 2007, no new benefits accrue under the non-qualified supplemental
pension plan, but interest will continue to be credited on outstanding supplemental cash balance accounts; and the
plan may continue to be used to credit special pension arrangements.