The Hartford 2011 Annual Report Download - page 221

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
F-86
17. Employee Benefit Plans (continued)
Cash Flows
The following table illustrates the Company’ s prior contributions.
Employer Contributions
Pension Benefits
Other Postretirement Benefits
2011
$
201
$
—
2010
201
—
In 2011, the Company, at its discretion, made $200 in contributions to the U.S. qualified defined benefit pension plan. The Company
presently anticipates contributing approximately $200 to its U.S. qualified defined benefit pension plan in 2012 based upon certain
economic and business assumptions. These assumptions include, but are not limited to, equity market performance, changes in interest
rates and the Company’ s other capital requirements. For 2012, the Company does not have a required minimum funding contribution for
the Plan and the funding requirements for all of the pension plans are expected to be immaterial.
Employer contributions in 2011 and 2010 were made in cash and did not include contributions of the Company’ s common stock.
Benefit Payments
The following table sets forth amounts of benefits expected to be paid over the next ten years from the Company’ s pension and other
postretirement plans as of December 31, 2011:
Pension Benefits
Other Postretirement Benefits
2012
$
272
$
38
2013
291
40
2014
309
40
2015
325
40
2016
341
39
2017-2021
1,888
183
Total
$
3,426
$
380
In addition, the following table sets forth amounts of other postretirement benefits expected to be received under the Medicare Part D
Subsidy over the next ten years as of December 31, 2011:
2012
$
4
2013
4
2014
5
2015
4
2016
5
2017-2021
31
Total
$
53
Investment and Savings Plan
Substantially all U.S. employees are eligible to participate in The Hartford’ s Investment and Savings Plan under which designated
contributions may be invested in common stock of The Hartford or certain other investments. These contributions are matched, up to
3% of base salary, by the Company. In 2011, employees who had earnings of less than $110,000 in the preceding year received a
contribution of 1.5% of base salary and employees who had earnings of $110,000 or more in the preceding year received a contribution
of 0.5% of base salary. The cost to The Hartford for this plan was approximately $59, $62, and $64 for 2011, 2010, and 2009,
respectively. Additionally, The Hartford has established defined contribution pension plans for certain employees of the Company’ s
international subsidiaries. Under this plan, the Company contributes 5% of base salary to the participant accounts. The cost to The
Hartford in 2011, 2010, and 2009 for this plan was $1, $1 and $2, respectively.