Bank of America 2013 Annual Report Download - page 249

Bank of America 2013 247
The Level 3 Fair Value Measurements table presents a reconciliation of all plan investment assets measured at fair value using
significant unobservable inputs (Level 3) during 2013, 2012 and 2011.
Level 3 Fair Value Measurements
2013
(Dollars in millions)
Balance
January 1
Actual Return on
Plan Assets Still
Held at the
Reporting Date Purchases
Sales and
Settlements
Transfers into/
(out of) Level 3
Balance
December 31
Fixed income
U.S. government and government agency securities $13$ —$—$(1)$—$12
Non-U.S. debt securities 10 (2) — (2) —6
Real estate
Private real estate 110 4 7 (2) —119
Real estate commingled/mutual funds 324 15 123 ——462
Limited partnerships 231 8 23 (89) (28) 145
Other investments 129 (6) 13 (1) —135
Total $ 817 $ 19 $ 166 $ (95) $ (28) $ 879
2012
Fixed income
U.S. government and government agency securities $ 13 $ — $ — $ — $ — $ 13
Non-U.S. debt securities 10 (1) 1 (1) 1 10
Real estate
Private real estate 113 (2) 2 (3) — 110
Real estate commingled/mutual funds 249 13 62 — — 324
Limited partnerships 232 8 11 (20) — 231
Other investments 122 7 4 (4) — 129
Total $ 739 $ 25 $ 80 $ (28) $ 1 $ 817
2011
Fixed income
U.S. government and government agency securities $ 14 $ (1) $ — $ — $ — $ 13
Non-U.S. debt securities 9 — 3 (2) — 10
Real estate
Private real estate 110 — 3 — — 113
Real estate commingled/mutual funds 215 26 9 (1) — 249
Limited partnerships 230 (6) 13 (5) — 232
Other investments 94 1 26 — 1 122
Total $ 672 $ 20 $ 54 $ (8) $ 1 $ 739
Projected Benefit Payments
Benefit payments projected to be made from the Qualified Pension Plan, Non-U.S. Pension Plans, Nonqualified and Other Pension Plans,
and Postretirement Health and Life Plans are presented in the table below.
Projected Benefit Payments
Postretirement Health and Life Plans
(Dollars in millions)
Qualified
Pension Plan (1)
Non-U.S.
Pension Plans (2)
Nonqualified
and Other
Pension Plans (2) Net Payments (3)
Medicare
Subsidy
2014 $ 927 $ 60 $ 243 $ 142 $ 17
2015 920 61 245 140 17
2016 910 64 242 137 17
2017 903 69 239 132 17
2018 894 71 235 127 17
2019 – 2023 4,399 428 1,132 558 76
(1) Benefit payments expected to be made from the plan’s assets.
(2) Benefit payments expected to be made from a combination of the plans’ and the Corporation’s assets.
(3) Benefit payments (net of retiree contributions) expected to be made from a combination of the plans’ and the Corporation’s assets.