The Hartford 2010 Annual Report Download - page 84

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RETIREMENT PLANS
Operating Summary 2010 2009 2008
Fee income and other $ 352 $ 321 $334
Earned premiums 7 3 4
Net investment income 364 315 342
Net realized capital losses (18) (333) (272)
Total revenues 705 306 408
Benefits, losses and loss adjustment expenses 278 269 271
Insurance operating costs and other expenses 340 346 335
Amortization of DAC 27 56 91
Total benefits, losses and expenses 645 671 697
Income (loss) before income taxes 60 (365) (289)
Income tax expense (benefit) 13 (143) (132)
Net income (loss) $ 47 $ (222) $(157)
Assets Under Management 2010 2009 2008
401(k) account values $20,291 $ 16,142 $11,956
403(b)/457 account values 12,649 11,116 10,242
401(k)/403(b) mutual funds 19,578 16,704 14,838
Total assets under management $52,518 $ 43,962 $37,036
Total assets under administration – 401(k) $4,448 $ 5,588 $5,122
Assets Under Management Roll Forward 2010 2009 2008
Assets under management, beginning of period $43,962 $37,036 $28,548
Net flows 1,545 (1,142) 1,972
Acquisitions [1] — — 18,725
Transfers in and reclassifications [2] 1,488 — —
Change in market value and other 5,523 8,068 (12,209)
Assets under management, end of period $52,518 $43,962 $37,036
Net Investment Spread 110 bps 66 bps 92 bps
[1] In 2008, the Company acquired the rights to service mutual fund assets from Sun Life Retirement Services, Inc., and Princeton Retirement Group.
[2] Lifetime Income and Maturity Funding business of $194 was transferred from Global Annuity to Retirement Plans effective January 1, 2010. Also
in 2010, the Company identified specific plans that required reclassification of $1.3 billion from AUA to AUM.