MetLife 2009 Annual Report Download - page 189

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Obligations, Funded Status and Net Periodic Benefit Costs
2009 2008 2009 2008
December 31,
Pension
Benefits
Other
Postretirement
Benefits
(In millions)
Change in benefit obligation:
Benefitobligationatbeginningofyear............................ $6,041 $5,722 $1,632 $1,599
Servicecost........................................... 170 164 22 21
Interestcost ........................................... 395 379 125 103
Planparticipants’contributions ............................... — — 30 31
Netactuariallosses ...................................... 421 129 351 16
Settlementsandcurtailments ................................ 12 — — —
Changeinbenefits....................................... (6) (1) (167) 1
Prescriptiondrugsubsidy................................... — — 12 10
Benefitspaid........................................... (384) (352) (158) (149)
Benefitobligationatendofyear................................ 6,649 6,041 1,847 1,632
Change in plan assets:
Fairvalueofplanassetsatbeginningofyear ....................... 5,559 6,520 1,011 1,183
Actualreturnonplanassets................................. 525 (952) 137 (150)
Planparticipants’contributions ............................... — — 2 —
Employercontribution..................................... 70 343 4 2
Benefitspaid........................................... (384) (352) (33) (24)
Fairvalueofplanassetsatendofyear.......................... 5,770 5,559 1,121 1,011
Fundedstatusatendofyear ................................ $ (879) $ (482) $ (726) $ (621)
Amounts recognized in the consolidated balance sheets consist of:
Otherassets........................................... $ — $ 227 $ — $ —
Otherliabilities.......................................... (879) (709) (726) (621)
Netamountrecognized.................................... $ (879) $ (482) $ (726) $ (621)
Accumulated other comprehensive (income) loss:
Netactuariallosses ...................................... $2,267 $2,184 $ 388 $ 147
Priorservicecost(credit)................................... 25 45 (288) (157)
2,292 2,229 100 (10)
Deferred income tax and noncontrolling interests, net of income tax . . . . . . . (811) (780) (36) 4
$1,481 $1,449 $ 64 $ (6)
The aggregate projected benefit obligation and aggregate fair value of plan assets for the pension plans were as follows:
2009 2008 2009 2008 2009 2008
December 31,
Qualified Plan Non-Qualified
Plan Total
(In millions)
Aggregatefairvalueofplanassets .................. $5,770 $5,559 $ — $ — $5,770 $5,559
Aggregate projected benefit obligation . . . . . . . . . . . . . . . . 5,862 5,356 787 685 6,649 6,041
Over (under) funded . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (92) $ 203 $(787) $(685) $ (879) $ (482)
The accumulated benefit obligation for all defined benefit pension plans was $6,231 million and $5,620 million at December 31, 2009 and
2008, respectively.
F-105MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)