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PENSION AND OTHER RETIREMENT BENEFITS
 9 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
PENSION AND OTHER RETIREMENT BENEFITS PENSION AND OTHER RETIREMENT BENEFITS
Moody’s maintains funded and unfunded noncontributory DBPPs. The U.S. plans provide defined benefits using a cash balance formula based on years of service and career average salary for its employees or final average pay for selected executives. The Company also provides certain healthcare and life insurance benefits for retired U.S. employees. The retirement healthcare plans are contributory; the life insurance plans are noncontributory. Moody’s funded and unfunded U.S. pension plans, the U.S. retirement healthcare plans and the U.S. retirement life insurance plans are collectively referred to herein as the “Retirement Plans”. The U.S. retirement healthcare plans and the U.S. retirement life insurance plans are collectively referred to herein as the “Other Retirement Plans”. The non-U.S. defined benefit pension plans are immaterial.
Effective January 1, 2008, the Company no longer offers DBPPs to U.S. employees hired or rehired on or after January 1, 2008. New U.S. employees will instead receive a retirement contribution of similar benefit value under the Company’s Profit Participation Plan. Current participants of the Company’s DBPPs continue to accrue benefits based on existing plan formulas.
The components of net periodic benefit expense related to the Retirement Plans are as follows:
Three Months Ended September 30,
Pension Plans
Other Retirement Plans
2020201920202019
Components of net periodic expense
Service cost$5 $4 $— $1 
Interest cost
4 5 1 — 
Expected return on plan assets
(5)(5)— — 
Amortization of net actuarial loss from earlier periods
2 1 — — 
Net periodic expense
$6 $5 $1 $1 

Nine Months Ended September 30,
Pension Plans
Other Retirement Plans
2020201920202019
Components of net periodic expense
Service cost$13 $12 $2 $2 
Interest cost
13 15 1 1 
Expected return on plan assets
(15)(15)— — 
Amortization of net actuarial loss from earlier periods
5 3 — — 
Net periodic expense
$16 $15 $3 $3 
The Company contributed $99 million to its funded pension plan, $8 million related to its unfunded U.S. DBPPs and $1 million to its U.S. other retirement plans during the nine months ended September 30, 2020. Additionally, the Company anticipates making payments of $1 million to its unfunded U.S. DBPPs, during the remainder of 2020.