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98
Fair Value Measurements Using Significant Unobservable Inputs (Level 3): The following tables present changes in the Level 3
category of Pension and PBOP Plan assets for the years ended December 31, 2013 and 2012. The NSTAR Pension Plan table
reflects the change in asset categories on January 1, 2013 as a result of the transfer of assets into the NUSCO Pension Plan master
trust.
NU Pension Plans
United
Real Estate
States
Private
Fixed
and Other
Hedge
(Millions of Dollars)
Equity
International
Equity
Income
Assets
Funds
Total
Balance as of January 1, 2012
$
259.4
$
-
$
255.1
$
276.2
$
71.8
$
240.0
$
1,102.5
Assets Assumed from Merger with NSTAR
-
41.4
-
-
111.0
126.6
279.0
Actual Return/(Loss) on Plan Assets:
Relating to Assets Still Held as of Year End
11.2
10.7
17.0
42.1
5.7
21.8
108.5
Relating to Assets Distributed During the Year
-
-
15.0
0.7
7.6
(0.3)
23.0
Purchases, Sales and Settlements
-
-
(19.2)
(3.9)
39.3
30.8
47.0
Balance as of December 31, 2012
$
270.6
$
52.1
$
267.9
$
315.1
$
235.4
$
418.9
-
$
1,560.0
Transfer Between Categories
-
-
-
32.5
-
(32.5)
-
Actual Return/(Loss) on Plan Assets:
Relating to Assets Still Held as of Year End
11.2
9.4
15.4
55.3
12.9
33.4
137.6
Relating to Assets Distributed During the Year
12.2
-
13.7
(1.0)
6.2
-
31.1
Purchases, Sales and Settlements
(100.0)
-
3.3
187.6
34.0
(2.9)
122.0
Balance as of December 31, 2013
$
194.0
$
61.5
$
300.3
$
589.5
$
288.5
$
416.9
$
1,850.7
NU PBOP Plans
United
Real Estate
States
Private
Fixed
and Other
Hedge
(Millions of Dollars)
Equity
Equity
Income
Assets
Funds
Total
Balance as of January 1, 2012
$
10.7
$
5.1
$
26.0
$
2.5
$
16.1
$
60.4
Assets Assumed from Merger with NSTAR
19.7
-
-
18.4
21.4
59.5
Actual Return on Plan Assets:
Relating to Assets Still Held as of Year End
5.9
1.6
4.0
3.0
2.1
16.6
Purchases, Sales and Settlements
-
4.6
2.1
2.8
-
9.5
Balance as of December 31, 2012
$
36.3
$
11.3
$
32.1
$
26.7
$
39.6
$
146.0
Actual Return/(Loss) on Plan Assets:
-
Relating to Assets Still Held as of Year End
20.8
1.5
4.1
3.9
5.4
35.7
Relating to Assets Distributed During the Year
-
0.2
-
(0.1)
-
0.1
Purchases, Sales and Settlements
12.0
4.9
15.3
3.4
12.0
47.6
Balance as of December 31, 2013
$
69.1
$
17.9
$
51.5
$
33.9
$
57.0
$
229.4
NSTAR Pension Plan
United
Real Estate
States
Private
Fixed
and Other
Hedge
(Millions of Dollars)
Equity
International
Equity
Income
Assets
Funds
Total
Balance as of January 1, 2012
$
-
$
41.4
$
-
$
-
$
111.0
$
126.6
$
279.0
Actual Return/(Loss) on Plan Assets:
Relating to Assets Still Held as of Year End
-
10.7
-
-
9.9
5.6
26.2
Relating to Assets Distributed During the Year
-
-
-
-
-
(0.3)
(0.3)
Purchases, Sales and Settlements
-
-
-
-
6.3
(9.2)
(2.9)
Balance as of December 31, 2012
$
-
$
52.1
$
-
$
-
$
127.2
$
122.7
$
302.0
Transfer of Assets into NUSCO Pension Plan Trust
80.5
(36.6)
$
79.7
93.8
(57.1)
2.0
162.3
Transfer Between Categories
-
-
-
9.7
-
(9.7)
-
Actual Return/(Loss) on Plan Assets:
Relating to Assets Still Held as of Year End
3.5
2.8
4.6
16.4
3.5
9.9
40.7
Relating to Assets Distributed During the Year
3.6
-
4.2
(0.3)
1.8
-
9.3
Purchases, Sales and Settlements
(29.8)
-
0.9
55.8
10.2
(0.8)
36.3
Balance as of December 31, 2013
$
57.8
$
18.3
$
89.4
$
175.4
$
85.6
$
124.1
$
550.6
B. Defined Contribution Plans
As of December 31, 2013, NU maintained two defined contribution plans on behalf of eligible participants. The NUSCO 401(k) Plan
covered eligible employees, including CL&P, PSNH, WMECO, and effective in 2012, certain newly-hired NSTAR employees. The
NSTAR Savings Plan covered eligible employees of NSTAR. These defined contribution plans provided for employee and employer
contributions up to statutory limits.
The NUSCO 401(k) Plan matches employee contributions up to a maximum of three percent of eligible compensation. The NUSCO
401(k) Plan also contains a K-Vantage feature which provides an additional company contribution based on age and years of service.
This feature covers the majority of NU non-represented employees hired after 2005 and certain NU bargaining unit employees hired
after 2006 or as subject to collective bargaining agreements. In addition, NSTAR employees who participate in the NUSCO 401(k) Plan
are eligible to participate in the K-Vantage program. Participants in the K-Vantage program are not eligible to actively participate in any
NU defined benefit plan.