Ameriprise 2014 Annual Report Download - page 183
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The prior service costs are amortized on a straight-line basis over the average remaining service period of active
participants. Actuarial gains and losses in excess of 10% of the greater of the projected benefit obligation or the market-
related value of assets are amortized on a straight-line basis over the expected average remaining service period of active
participants.
The following tables provide a reconciliation of the changes in the benefit obligation and fair value of assets for the pension
plans:
2014 2013
(in millions)
Benefit obligation, January 1 $ 676 $ 643
Service cost 43 46
Interest cost 28 23
Benefits paid (7) (7)
Actuarial (gain) loss 30 (8)
Settlements (20) (23)
Foreign currency rate changes (8) 2
Additional voluntary contribution (‘‘AVC’’) obligation 34 —
Benefit obligation, December 31 $ 776 $ 676
2014 2013
(in millions)
Fair value of plan assets, January 1 $ 544 $ 437
Actual return on plan assets 37 85
Employer contributions 47 50
Benefits paid (7) (7)
Settlements (20) (23)
Foreign currency rate changes (8) 2
AVC asset 19 —
Fair value of plan assets, December 31 $ 612 $ 544
The AVC obligation and asset included in the tables above relate to a retirement plan provided to employees outside the
U.S., which allows participants to make voluntary contributions to be converted at retirement into additional defined benefit
pension provided by the plan. Participant contributions are invested in one or more pooled pension funds available under
the plan.
The following table provides the amounts recognized in the Consolidated Balance Sheets, which equal the funded status of
the Company’s pension plans:
December 31,
2014 2013
(in millions)
Benefit liability $ (178) $ (136)
Benefit asset 14 4
Net amount recognized $ (164) $ (132)
The Company complies with the minimum funding requirements in all countries.
The amounts recognized in AOCI, net of tax, as of December 31, 2014 but not recognized as components of net periodic
benefit cost included an unrecognized actuarial loss of $77 million and an unrecognized prior service credit of $2 million.
The estimated amounts that will be amortized from AOCI, net of tax, into net periodic benefit cost in 2015 include a prior
service credit of $1 million and actuarial loss of $6 million.
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