The Hartford 2014 Annual Report Download - page 225

Table of Contents




 

    
        
Actual return on plan assets 565 (27) 16 13
Employer contributions 101 101 — —
Benefits paid [1] (245) (278) (33) (20)
Expenses paid (24) (15) — —
Settlements (319) — — —
Foreign exchange adjustment (1) (1) — —
        
        
[1] Other postretirement benefits paid represent non-key employee postretirement medical benefits paid from the Company's prefunded trust fund.
The fair value of assets for pension benefits, and hence the funded status, presented in the table above excludes assets of $129 and $123 as of December 31,
2014 and 2013, respectively, held in rabbi trusts and designated for the non-qualified pension plans. The assets do not qualify as plan assets; however, the
assets are available to pay benefits for certain retired, terminated and active participants. Such assets are available to the Company’s general creditors in the
event of insolvency. The assets consist of equity and fixed income investments. To the extent the fair value of these rabbi trusts were included in the table
above, pension plan assets would have been $4,836 and $4,753 as of December 31, 2014 and 2013, respectively, and the funded status of pension benefits
would have been $(1,189) and $(763) as of December 31, 2014 and 2013, respectively.
The accumulated benefit obligation for all defined benefit pension plans was $6,024 and $5,515 as of December 31, 2014 and 2013, respectively.
The following table provides information for the Company's defined benefit pension plans with an accumulated benefit obligation in excess of plan assets.

 
Projected benefit obligation $ 6,025 $ 5,516
Accumulated benefit obligation 6,024 5,515
Fair value of plan assets 4,707 4,630
As of December 31, 2014, pension and other postretirement benefits plan assets totaling $4.9 billion were invested in the separate accounts of HLIC.
Amounts recognized in the Company's Consolidated Balance Sheets consist of:
 

   
Other liabilities $ 1,318 $ 886 $ 142 $ 99
F-89