General Motors 2015 Annual Report Download - page 82
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Table of Contents
In the year ended December 31, 2012 we provided short-term, interest-free, unsecured loans of $2.2 billion to provide the plan with incremental liquidity to
pay ongoing benefits and administrative costs. Through December 31, 2013 contributions of $1.7 billion were made from the $2.2 billion loans and the
remaining amounts were repaid.
Active salaried plan participants began receiving additional contributions in the defined contribution plan in October 2012. Lump-sum pension
distributions in 2013 of $430 million resulted in a pre-tax settlement gain of $128 million.
In the three months ended December 31, 2014 the Society of Actuaries issued new mortality and mortality improvement tables that raised life expectancies
and thereby indicate the amount of estimated aggregate benefit payments to our U.S. pension plans' participants is increasing. We incorporated these Society
of Actuaries mortality and mortality improvement tables into our December 31, 2014 measurement of our U.S. pension plans' benefit obligations. The change
in these assumptions increased the December 31, 2014 U.S. pension plans' obligations by $2.2 billion. The mortality improvement tables issued by the
Society of Actuaries in the three months ended December 31, 2015 did not result in any change in our current assumptions used to measure the U.S. pension
plans’ obligations.
The following table summarizes the change in benefit obligations and related plan assets (dollars in millions):
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