Morgan Stanley 2014 Annual Report Download - page 287

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table presents changes in Level 3 pension assets measured at fair value for 2014:
Beginning
Balance at
January 1,
2014
Actual
Return on
Plan Assets
Related to
Assets Still
Held at
December 31,
2014
Actual
Return
on Plan
Assets Related
to Assets Sold
during 2014
Purchases,
Sales,
Other
Settlements
and Issuances,
net
Net Transfers
In and/or (Out)
of Level 3
Ending
Balance
at December 31,
2014
(dollars in millions)
Investments
Other investments ......... $38 $(5) $— $3 $— $36
Total investments ...... $38 $(5) $— $3 $— $36
The following table presents changes in Level 3 pension assets measured at fair value for 2013:
Beginning
Balance at
January 1,
2013
Actual
Return on
Plan Assets
Related to
Assets Still
Held at
December 31,
2013
Actual
Return
on Plan
Assets Related
to Assets Sold
during 2013
Purchases,
Sales,
Other
Settlements
and Issuances,
net
Net Transfers
In and/or (Out)
of Level 3
Ending
Balance
at December 31,
2013
(dollars in millions)
Investments
Other investments ......... $30 $2 $— $4 $2 $38
Total investments ...... $30 $2 $— $4 $2 $38
Cash Flows.
At December 31, 2014, the Company expects to contribute approximately $50 million to its pension and
postretirement benefit plans in 2015 based upon the plans’ current funded status and expected asset return
assumptions for 2015, as applicable.
Expected benefit payments associated with the Company’s pension and postretirement benefit plans for the next
five years and in aggregate for the five years thereafter at December 31, 2014 are as follows:
Pension Postretirement
(dollars in millions)
2015 ......................................................... $132 $ 4
2016 ......................................................... 133 5
2017 ......................................................... 143 5
2018 ......................................................... 141 5
2019 ......................................................... 145 5
2020-2024 ..................................................... 854 28
Morgan Stanley 401(k) Plan. U.S. employees meeting certain eligibility requirements may participate in the
Morgan Stanley 401(k) Plan. Eligible U.S. employees receive discretionary 401(k) matching cash contributions
as determined annually by the Company. For 2014 and 2013, the Company made a $1 for $1 Company match up
to 4% of eligible pay, up to the Internal Revenue Service (“IRS”) limit. Matching contributions for 2014 and
283