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PENSION AND OTHER RETIREMENT BENEFITS
 9 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
PENSION AND OTHER RETIREMENT BENEFITS PENSION AND OTHER RETIREMENT BENEFITS
Moody’s maintains funded and unfunded noncontributory DBPPs. The DBPPs 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.
Through 2007, substantially all U.S. employees were eligible to participate in the Company’s DBPPs. Effective January 1, 2008, the Company no longer offers DBPPs to U.S. employees hired or rehired on or after January 1, 2008 and new hires in the U.S. instead will receive a retirement contribution in similar benefit value under the Company’s Profit Participation Plan. Current participants of the Company’s Retirement Plans and Other Retirement Plans continue to accrue benefits based on existing plan formulas.
The components of net periodic benefit expense related to the Retirement Plans and Other Retirement Plans are as follows:
Three Months Ended September 30,
Pension Plans
Other Retirement Plans
2021202020212020
Components of net periodic expense
Service cost$4 $5 $1 $— 
Interest cost4 4 — 1 
Expected return on plan assets(7)(5)— — 
Amortization of net actuarial loss from earlier periods3 2 — — 
Loss on settlement of pension obligation1 — — — 
Net periodic expense$5 $6 $1 $1 
Nine Months Ended September 30,
Pension Plans
Other Retirement Plans
2021202020212020
Components of net periodic expense
Service cost$14 $13 $3 $2 
Interest cost11 13 1 1 
Expected return on plan assets(20)(15)— — 
Amortization of net actuarial loss from earlier periods8 5 — — 
Loss on settlement of pension obligation8 — — — 
Net periodic expense$21 $16 $4 $3 
The Company made contributions of $46 million related to its unfunded U.S. DBPPs during the nine months ended September 30, 2021. Anticipated contributions for the remainder of 2021 are not expected to be material.