Assurant 2014 Annual Report Download - page 145
Download and view the complete annual report
Please find page 145 of the 2014 Assurant annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135 -
136 -
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156
-
157
-
158
-
159
-
160
-
161
 |
 |
ASSURANT, INC. – 2014 Form 10-K F-57
21 Retirement and Other Employee Benefi ts
The fair value hierarchy for the Company’s qualifi ed pension plan and other post retirement benefi t plan assets at
December 31, 2013 by asset category, is as follows:
Qualifi ed Pension Benefi ts
Financial Assets
December 31, 2013
Total Level 1 Level 2 Level 3
Cash and cash equivalents:
Short-term investment funds $ 33,750 $ — $ 33,750 $ —
Equity securities:
Common stock- U.S. listed small cap 60,770 60,770 — —
Preferred stock 2,674 2,674 — —
Mutual funds- U.S. listed large cap 220,185 220,185 — —
Common/collective trust- foreign listed 59,242 — 59,242 —
Fixed maturity securities:
U.S. & foreign government and government agencies and
authorities 95,813 — 95,813 —
Corporate- U.S. & foreign investment grade 203,542 — 203,542 —
Corporate- U.S. & foreign high yield 50,131 — 50,131 —
Investment fund:
Multi-strategy hedge fund 59,977 — — 59,977
Private equity fund 1,525 — — 1,525
Derivatives:
Interest rate swap 3,106 — 3,106 —
TOTAL FINANCIAL ASSETS $ 790,715(1) $ 283,629 $ 445,584 $ 61,502
(1) The difference between the fair value of plan assets above and the amount used in determining the funded status is due to interest receivable
which is not required to be included in the fair value hierarchy.
Retirement Health Benefi ts
Financial Assets
December 31, 2013
Total Level 1 Level 2 Level 3
Cash and cash equivalents:
Short-term investment funds $ 2,015 $ — $ 2,015 $ —
Equity securities:
Common stock- U.S. listed small cap 3,628 3,628 — —
Preferred stock 160 160 — —
Mutual funds- U.S. listed large cap 13,146 13,146 — —
Common/collective trust- foreign listed 3,537 — 3,537 —
Fixed maturity securities:
U.S. & foreign government and government agencies and authorities 5,720 — 5,720 —
Corporate- U.S. & foreign investment grade 12,152 — 12,152 —
Corporate- U.S. & foreign high yield 2,993 — 2,993 —
Investment fund:
Multi-strategy hedge fund 3,581 — — 3,581
Private equity fund 91 — — 91
Derivatives:
Interest rate swap 185 — 185 —
TOTAL FINANCIAL ASSETS $ 47,208(1) $ 16,934 $ 26,602 $ 3,672
(1) The difference between the fair value of plan assets above and the amount used in determining the funded status is due to interest receivable
which is not required to be included in the fair value hierarchy.
The following table for the Company’s qualifi ed pension plan and retirement health benefi t plan summarizes the change in
fair value associated with the MIMSF and Private Equity Partners XI Limited Partnership, the only Level 3 fi nancial assets.
Pension Benefi t
Retirement
Health Benefi t
Beginning balance at December 31, 2013 $ 61,502 $ 3,672
Purchases 2,730 155
Actual return on plan assets and plan expenses still held at the reporting date 3,514 31
ENDING BALANCE AT DECEMBER 31, 2014 $ 67,746 $ 3,858