MetLife 2013 Annual Report Download - page 205

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
18. Employee Benefit Plans (continued)
The table below summarizes the actual weighted average allocation of the fair value of total plan assets by asset class at December 31 for the
years indicated and the approved target allocation by major asset class at December 31, 2013 for the plans:
Pension Other Postretirement
Actual Allocation Actual Allocation
Target 2013 2012 Target 2013 2012
Asset Class:
Fixed maturity securities (1) ............................................. 76% 50% 54% 100% 100% 100%
Equity securities (2) ................................................... 17% 33% 24% —% —% —%
Alternative securities (3) ............................................... 7% 17% 22% —% —% —%
Total assets ...................................................... 100% 100% 100% 100%
(1) Fixed maturity securities include corporate and foreign bonds.
(2) Equity securities primarily include common stock of non-U.S. companies.
(3) Alternative securities include derivative assets, real estate, short-term investments, and other investments.
The pension and postretirement plan assets measured at estimated fair value on a recurring basis were determined as described in “— Plan
Assets.” These estimated fair values and their corresponding placement in the fair value hierarchy are summarized as follows:
December 31, 2013
Pension Benefits Other Postretirement Benefits
Fair Value Hierarchy Fair Value Hierarchy
Level 1 Level 2 Level 3
Total
Estimated
Fair Value Level 1 Level 2 Level 3
Total
Estimated
Fair Value
(In millions)
Assets
Fixed maturity securities:
Corporate ................................................ $— $ 27 $— $ 27 $— $— $— $—
Foreign bonds ............................................. — 96 — 96 — 14 — 14
Total fixed maturity securities ................................ — 123 — 123 — 14 — 14
Equity securities:
Common stock - foreign ..................................... — 83 — 83 — — — —
Other investments ............................................ 32 — — 32 — — — —
Derivative assets ............................................. — — 2 2 — — — —
Real estate ................................................. — — 2 2 — — — —
Short-term investments ........................................ — 6 — 6 — — — —
Total assets ............................................. $32 $212 $ 4 $248 $— $14 $— $14
December 31, 2012
Pension Benefits Other Postretirement Benefits
Fair Value Hierarchy Fair Value Hierarchy
Level 1 Level 2 Level 3
Total
Estimated
Fair Value Level 1 Level 2 Level 3
Total
Estimated
Fair Value
(In millions)
Assets
Fixed maturity securities:
Foreign bonds ............................................. $— $120 $— $120 $— $15 $— $15
Equity securities:
Common stock - foreign ..................................... — 54 — 54 — — — —
Other investments ............................................ 24 — — 24 — — — —
Derivative assets ............................................. — — 13 13 — — — —
Real estate ................................................. — — 7 7 — — — —
Short-term investments ........................................ — 6 — 6 — — — —
Total assets ........................................... $24 $180 $20 $224 $— $15 $— $15
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