Ameriprise 2015 Annual Report Download - page 181
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The components of the net periodic benefit cost for pension plans were as follows:
Years Ended December 31,
2015 2014 2013
(in millions)
Service cost $46 $43 $46
Interest cost 27 28 23
Expected return on plan assets (40) (38) (33)
Amortization of prior service costs (1) (1) (1)
Amortization of net loss 9 7 11
Other 432
Net periodic benefit cost $ 45 $ 42 $ 48
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 table provides a reconciliation of changes in the benefit obligation:
Other Postretirement
Pension Plans Plans
2015 2014 2015 2014
(in millions)
Benefit obligation, January 1 $ 776 $ 676 $ 18 $ 18
Service cost 46 43 — —
Interest cost 27 28 1 1
Benefits paid (6) (7) (3) (4)
Actuarial (gain) loss (3) 30 — —
Participant contributions — — 2 3
Settlements (20) (20) — —
Foreign currency rate changes (8) (8) — —
Additional voluntary contribution (‘‘AVC’’) obligation — 34 — —
Benefit obligation, December 31 $ 812 $ 776 $ 18 $ 18
The following table provides a reconciliation of changes in the fair value of assets:
Pension Plans
2015 2014
(in millions)
Fair value of plan assets, January 1 $ 612 $ 544
Actual return on plan assets (9) 37
Employer contributions 40 47
Benefits paid (6) (7)
Settlements (20) (20)
Foreign currency rate changes (9) (8)
AVC asset —19
Fair value of plan assets, December 31 $ 608 $ 612
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.
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