The Hartford 2014 Annual Report Download - page 232

Table of Contents
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

In 2014, the Company, at its discretion, made $100 in contributions to the U.S. qualified defined benefit pension plan. The Company does not have a 2015
required minimum funding contribution for the U.S. qualified defined benefit pension plan. The Company has not determined whether, and to what extent,
contributions may be made to the U. S. qualified defined benefit pension plan in 2015. The Company will monitor the funded status of the U.S. qualified
defined benefit pension plan during 2015 to make this determination.
Employer contributions in 2014 and 2013 were made in cash and did not include contributions of the Company’s common stock.

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, 2014:
 
2015 $ 318 $ 42
2016 324 40
2017 327 38
2018 332 35
2019 338 32
2020 - 2024 1,735 123
    
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, 2014:
2015 $ 3
2016 3
2017 3
2018 3
2019 3
2020 - 2024 18
  

Substantially all U.S. employees of the Company are eligible to participate in The Hartford Investment and Savings Plan under which designated
contributions may be invested in common stock of The Hartford or certain other investments. The Company's contributions include a non-elective
contribution of 2.0% of eligible compensation and a dollar-for-dollar matching contribution of up to 6.0% of eligible compensation contributed by the
employee each pay period. The Company also maintains a non-qualified savings plan, The Hartford Excess Savings Plan, with the same level of Company
matching contributions, with respect to employee compensation in excess of the limit that can be recognized under the tax-qualified Investment and Savings
Plan. The Company discontinued non-elective contributions to the Excess Savings Plan effective December 31, 2013. Eligible compensation includes
overtime and bonuses but is limited to a total, for the Investment and Savings Plan and Excess Savings Plan combined, of $1 annually. The total cost to The
Hartford for these plans was approximately $113 and $123 for the years ended December 31, 2014 and 2013, respectively.
Prior to January 1, 2013, the contributions to The Hartford Investment and Savings Plan were matched at a 50% rate up to a Company contribution of 3.0% of
base salary. In 2012, employees who had earnings of less than $110 thousand in the preceding year also received a contribution of 1.5% of base salary and
employees who had earnings of $110 thousand 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 $58 for the year ended December 31, 2012.
Additionally, The Hartford has established defined contribution pension plans for certain employees of the Company’s international subsidiaries. The cost to
The Hartford for the years ended December 31, 2014, 2013, and 2012 for these plans was immaterial.
As of December 31, 2014, investment and savings plan assets totaling $368 million were invested in the separate accounts of HLIC.
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