GE 2014 Annual Report Download - page 191

GE 2014 FORM 10-K 171
FINANCIAL STATEMENTS POSTRETIREMENT BENEFIT PLANS
NOTE 12. POSTRETIREMENT BENEFIT PLANS
PENSION BENEFITS
We sponsor a number of pension plans. Principal pension plans, together with affiliate and certain other pension plans (other
pension plans) detailed in this note, represent about 99% of our total pension assets. We use a December 31 measurement
date for our plans.
Principal Pension Plans are the GE Pension Plan and the GE Supplementary Pension Plan.
The GE Pension Plan provides benefits to certain U.S. employees based on the greater of a formula recognizing career
earnings or a formula recognizing length of service and final average earnings. Certain benefit provisions are subject to
collective bargaining. Salaried employees who commence service on or after January 1, 2011 and any employee who
commences service on or after January 1, 2012 will not be eligible to participate in the GE Pension Plan, but will participate in
a defined contribution retirement program.
The GE Supplementary Pension Plan is an unfunded plan providing supplementary retirement benefits primarily to higher-
level, longer-service U.S. employees.
Other Pension Plans in 2014 included 40 U.S. and non-U.S. pension plans with pension assets or obligations greater than
$50 million. These defined benefit plans generally provide benefits to employees based on formulas recognizing length of
service and earnings.
PENSION PLAN PARTICIPANTS
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PrincipalOthe
r

pensionpension
December 31, 2014 Total
plansplans
Active employees 117,000 86,000 31,000
Vested former employees 225,000 179,000 46,000
Retirees and beneficiaries 267,000 232,000 35,000
Total 609,000 497,000 112,000
COST OF PENSION PLANS
Total Principal pension plans Other pension plans
(In millions) 2014 2013 2012 2014 2013 2012 2014 2013 2012
Service cost for benefits earned $ 1,608 $ 1,970 $ 1,779 $ 1,205 $ 1,535 $ 1,387 $ 403 $ 435 $ 392
Prior service cost amortization 220 253 287 214
246 279 6 7 8
Expected return on plan assets (3,979) (4,163) (4,394) (3,190) (3,500) (3,768) (789) (663) (626)
Interest cost on benefit obligations 3,332 2,983 2,993 2,745 2,460 2,479 587 523 514
Net actuarial loss amortization 2,770 4,007 3,701 2,565 3,664 3,421 205 343 280
Curtailment loss 65 - - 65 (a) - - - - -
Pension plans cost $ 4,016 $ 5,050 $ 4,366 $ 3,604 $ 4,405 $ 3,798 $ 412 $ 645 $ 568
(a) Loss resulting from our agreement with Electrolux to sell the GE Appliances business.
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