The Hartford 2012 Annual Report Download - page 232

Table of Contents




In the Company’s non-qualified pension plan the amount of lump sum benefit payments exceeded the amount of service and interest cost for the year ended
December 31, 2010. As a result, the Company recorded settlement expense of $20 to recognize the actuarial loss associated with the pro-rata portion of the
obligation that has been settled.
Total net periodic benefit cost includes the following components:
 
     
Service cost $92 $102 $102 $ 2 $ 5 $ 7
Interest cost 250 259 252 14 20 22
Expected return on plan assets (312) (298) (286) (14)(14)(13)
Amortization of prior service credit (9) (9) (9) (4)(1)(1)
Amortization of actuarial loss 231 159 107 1 — —
Settlements 1 — 20 — — —
Curtailment gain due to plan freeze (11) — — (1) — —
         
Amounts recognized in other comprehensive income (loss) were as follows:
 
   
Amortization of actuarial loss $(231) $ (159) $ (1) $ —
Settlement loss (1) — — —
Amortization of prior service credit 21 9 (111) 1
Net loss arising during the year 477 237 18 24
     
Amounts in accumulated other comprehensive income (loss) on a before tax basis that have not yet been recognized as components of net periodic benefit cost
consist of:
 
   
Net loss $2,175 $ 1,930 $ 58 $ 39
Prior service credit —(21)(110) 1
Transition obligation — — — 2
     
The estimated net loss for the defined benefit pension plans that will be amortized from accumulated other comprehensive income (loss) into net periodic
benefit cost during 2013 is $57. The estimated prior service cost for the other postretirement benefit plans that will be amortized from accumulated other
comprehensive income (loss) into net periodic benefit cost during 2013 is $(7). The estimated net loss for the other postretirement plans that will be amortized
from accumulated other comprehensive income into net periodic benefit cost during 2013 is an insignificant amount.
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