JP Morgan Chase 2014 Annual Report Download - page 229

JPMorgan Chase & Co./2014 Annual Report 227
Year ended December 31, 2012
(in millions)
Fair value,
January 1,
2012
Actual return on plan assets Purchases, sales
and settlements,
net
Transfers in
and/or out
of level 3
Fair value,
December 31,
2012
Realized
gains/(losses) Unrealized gains/(losses)
U.S. defined benefit pension plans
Equities $ 1 $ — $ (1) $ — $ 4 $ 4
Common/collective trust funds 202 2 22 (27) — 199
Limited partnerships:
Hedge funds 1,039 1 71 55 — 1,166
Private equity 1,367 59 54 263 — 1,743
Real estate 306 16 1 144 — 467
Real assets 264 — 10 37 — 311
Total limited partnerships 2,976 76 136 499 — 3,687
Corporate debt securities 2 — — (1) — 1
Mortgage-backed securities — — — — — —
Other 427 — (7) — — 420
Total U.S. defined benefit pension plans $ 3,608 $ 78 $ 150 $ 471 $ 4 $ 4,311
OPEB plans
COLI $ 1,427 $ — $ 127 $ — $ — $ 1,554
Total OPEB plans $ 1,427 $ — $ 127 $ — $ — $ 1,554
Estimated future benefit payments
The following table presents benefit payments expected to be paid, which include the effect of expected future service, for the
years indicated. The OPEB medical and life insurance payments are net of expected retiree contributions.
Year ended December 31,
(in millions) U.S. defined benefit pension plans Non-U.S. defined benefit pension plans
OPEB before
Medicare Part D
subsidy Medicare Part D
subsidy
2015 $ 712 $ 110 $ 73 $ 1
2016 765 113 71 1
2017 899 118 70 1
2018 926 128 68 1
2019 966 132 66 1
Years 2020–2024 4,357 746 293 5