Retirement Benefits

6 Months Ended

Jun. 30, 2012

Retirement Benefits

NOTE 12 - RETIREMENT BENEFITS

Ameren’s pension and postretirement plans are funded in compliance with income tax regulations and to meet federal funding or regulatory requirements. As a result, Ameren expects to fund its pension plans at a level equal to the greater of the pension expense or the legally required minimum contribution. Considering Ameren’s assumptions at December 31, 2011, its estimated investment performance through June 30, 2012, and its pension funding policy, Ameren expects to make annual contributions of $80 million to $140 million in each of the next five years, with aggregate estimated contributions of $570 million. These amounts are estimates which may change with actual investment performance, changes in interest rates, any pertinent changes in government regulations, and any voluntary contributions. Our policy for postretirement benefits is primarily to fund the Voluntary Employee Beneficiary Association (VEBA) trusts to match the annual postretirement expense.

The following table presents the components of the net periodic benefit cost for Ameren’s pension and postretirement benefit plans for the three and six months ended June 30, 2012, and 2011:

	Pension Benefits(a)												Postretirement Benefits(a)
	Three Months						Six Months						Three Months						Six Months
	2012			2011			2012			2011			2012			2011			2012			2011
Service cost	$	20		$	18		$	41		$	38		$	6		$	5		$	12		$	11
Interest cost		42			45			85			90			12			14			26			29
Expected return on plan assets		(53	)		(54	)		(107	)		(108	)		(15	)		(13	)		(29	)		(27	)
Amortization of:
Transition obligation		-			-			-			-			1			1			1			1
Prior service cost (benefit)		(1	)		(1	)		(1	)		(1	)		(2	)		(2	)		(3	)		(4	)
Actuarial loss		19			10			39			21			-			1			4			2
Net periodic benefit cost	$	27		$	18		$	57		$	40		$	2		$	6		$	11		$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.

See Note 1 - Summary of Significant Accounting Policies for information regarding a pending curtailment gain or loss of EEI’s pension and postretirement benefit plans.

Ameren Missouri, Ameren Illinois and Genco are responsible for their share of the pension and postretirement costs. The following table presents the pension costs and the postretirement benefit costs incurred for the three and six months ended June 30, 2012, and 2011:

	Pension Costs								Postretirement Costs
	Three Months				Six Months				Three Months				Six Months
	2012		2011		2012		2011		2012		2011		2012		2011
Ameren Missouri	$	16	$	12	$	32	$	26	$	-	$	2	$	5	$	5
Ameren Illinois		8		3		18		8		-		4		2		6
Genco		2		3		5		5		2		-		4		1
Other		1		-		2		1		-		-		-		-
Ameren(a)	$	27	$	18	$	57	$	40	$	2	$	6	$	11	$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.

Ameren Energy Generating Company [Member]

Retirement Benefits

NOTE 12 - RETIREMENT BENEFITS

Ameren’s pension and postretirement plans are funded in compliance with income tax regulations and to meet federal funding or regulatory requirements. As a result, Ameren expects to fund its pension plans at a level equal to the greater of the pension expense or the legally required minimum contribution. Considering Ameren’s assumptions at December 31, 2011, its estimated investment performance through June 30, 2012, and its pension funding policy, Ameren expects to make annual contributions of $80 million to $140 million in each of the next five years, with aggregate estimated contributions of $570 million. These amounts are estimates which may change with actual investment performance, changes in interest rates, any pertinent changes in government regulations, and any voluntary contributions. Our policy for postretirement benefits is primarily to fund the Voluntary Employee Beneficiary Association (VEBA) trusts to match the annual postretirement expense.

The following table presents the components of the net periodic benefit cost for Ameren’s pension and postretirement benefit plans for the three and six months ended June 30, 2012, and 2011:

	Pension Benefits(a)												Postretirement Benefits(a)
	Three Months						Six Months						Three Months						Six Months
	2012			2011			2012			2011			2012			2011			2012			2011
Service cost	$	20		$	18		$	41		$	38		$	6		$	5		$	12		$	11
Interest cost		42			45			85			90			12			14			26			29
Expected return on plan assets		(53	)		(54	)		(107	)		(108	)		(15	)		(13	)		(29	)		(27	)
Amortization of:
Transition obligation		-			-			-			-			1			1			1			1
Prior service cost (benefit)		(1	)		(1	)		(1	)		(1	)		(2	)		(2	)		(3	)		(4	)
Actuarial loss		19			10			39			21			-			1			4			2
Net periodic benefit cost	$	27		$	18		$	57		$	40		$	2		$	6		$	11		$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.

See Note 1 - Summary of Significant Accounting Policies for information regarding a pending curtailment gain or loss of EEI’s pension and postretirement benefit plans.

Ameren Missouri, Ameren Illinois and Genco are responsible for their share of the pension and postretirement costs. The following table presents the pension costs and the postretirement benefit costs incurred for the three and six months ended June 30, 2012, and 2011:

	Pension Costs								Postretirement Costs
	Three Months				Six Months				Three Months				Six Months
	2012		2011		2012		2011		2012		2011		2012		2011
Ameren Missouri	$	16	$	12	$	32	$	26	$	-	$	2	$	5	$	5
Ameren Illinois		8		3		18		8		-		4		2		6
Genco		2		3		5		5		2		-		4		1
Other		1		-		2		1		-		-		-		-
Ameren(a)	$	27	$	18	$	57	$	40	$	2	$	6	$	11	$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.

Union Electric Company [Member]

Retirement Benefits

NOTE 12 - RETIREMENT BENEFITS

Ameren’s pension and postretirement plans are funded in compliance with income tax regulations and to meet federal funding or regulatory requirements. As a result, Ameren expects to fund its pension plans at a level equal to the greater of the pension expense or the legally required minimum contribution. Considering Ameren’s assumptions at December 31, 2011, its estimated investment performance through June 30, 2012, and its pension funding policy, Ameren expects to make annual contributions of $80 million to $140 million in each of the next five years, with aggregate estimated contributions of $570 million. These amounts are estimates which may change with actual investment performance, changes in interest rates, any pertinent changes in government regulations, and any voluntary contributions. Our policy for postretirement benefits is primarily to fund the Voluntary Employee Beneficiary Association (VEBA) trusts to match the annual postretirement expense.

The following table presents the components of the net periodic benefit cost for Ameren’s pension and postretirement benefit plans for the three and six months ended June 30, 2012, and 2011:

	Pension Benefits(a)												Postretirement Benefits(a)
	Three Months						Six Months						Three Months						Six Months
	2012			2011			2012			2011			2012			2011			2012			2011
Service cost	$	20		$	18		$	41		$	38		$	6		$	5		$	12		$	11
Interest cost		42			45			85			90			12			14			26			29
Expected return on plan assets		(53	)		(54	)		(107	)		(108	)		(15	)		(13	)		(29	)		(27	)
Amortization of:
Transition obligation		-			-			-			-			1			1			1			1
Prior service cost (benefit)		(1	)		(1	)		(1	)		(1	)		(2	)		(2	)		(3	)		(4	)
Actuarial loss		19			10			39			21			-			1			4			2
Net periodic benefit cost	$	27		$	18		$	57		$	40		$	2		$	6		$	11		$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.

See Note 1 - Summary of Significant Accounting Policies for information regarding a pending curtailment gain or loss of EEI’s pension and postretirement benefit plans.

Ameren Missouri, Ameren Illinois and Genco are responsible for their share of the pension and postretirement costs. The following table presents the pension costs and the postretirement benefit costs incurred for the three and six months ended June 30, 2012, and 2011:

	Pension Costs								Postretirement Costs
	Three Months				Six Months				Three Months				Six Months
	2012		2011		2012		2011		2012		2011		2012		2011
Ameren Missouri	$	16	$	12	$	32	$	26	$	-	$	2	$	5	$	5
Ameren Illinois		8		3		18		8		-		4		2		6
Genco		2		3		5		5		2		-		4		1
Other		1		-		2		1		-		-		-		-
Ameren(a)	$	27	$	18	$	57	$	40	$	2	$	6	$	11	$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.

Ameren Illinois Company [Member]

Retirement Benefits

NOTE 12 - RETIREMENT BENEFITS

Ameren’s pension and postretirement plans are funded in compliance with income tax regulations and to meet federal funding or regulatory requirements. As a result, Ameren expects to fund its pension plans at a level equal to the greater of the pension expense or the legally required minimum contribution. Considering Ameren’s assumptions at December 31, 2011, its estimated investment performance through June 30, 2012, and its pension funding policy, Ameren expects to make annual contributions of $80 million to $140 million in each of the next five years, with aggregate estimated contributions of $570 million. These amounts are estimates which may change with actual investment performance, changes in interest rates, any pertinent changes in government regulations, and any voluntary contributions. Our policy for postretirement benefits is primarily to fund the Voluntary Employee Beneficiary Association (VEBA) trusts to match the annual postretirement expense.

The following table presents the components of the net periodic benefit cost for Ameren’s pension and postretirement benefit plans for the three and six months ended June 30, 2012, and 2011:

	Pension Benefits(a)												Postretirement Benefits(a)
	Three Months						Six Months						Three Months						Six Months
	2012			2011			2012			2011			2012			2011			2012			2011
Service cost	$	20		$	18		$	41		$	38		$	6		$	5		$	12		$	11
Interest cost		42			45			85			90			12			14			26			29
Expected return on plan assets		(53	)		(54	)		(107	)		(108	)		(15	)		(13	)		(29	)		(27	)
Amortization of:
Transition obligation		-			-			-			-			1			1			1			1
Prior service cost (benefit)		(1	)		(1	)		(1	)		(1	)		(2	)		(2	)		(3	)		(4	)
Actuarial loss		19			10			39			21			-			1			4			2
Net periodic benefit cost	$	27		$	18		$	57		$	40		$	2		$	6		$	11		$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.

See Note 1 - Summary of Significant Accounting Policies for information regarding a pending curtailment gain or loss of EEI’s pension and postretirement benefit plans.

Ameren Missouri, Ameren Illinois and Genco are responsible for their share of the pension and postretirement costs. The following table presents the pension costs and the postretirement benefit costs incurred for the three and six months ended June 30, 2012, and 2011:

	Pension Costs								Postretirement Costs
	Three Months				Six Months				Three Months				Six Months
	2012		2011		2012		2011		2012		2011		2012		2011
Ameren Missouri	$	16	$	12	$	32	$	26	$	-	$	2	$	5	$	5
Ameren Illinois		8		3		18		8		-		4		2		6
Genco		2		3		5		5		2		-		4		1
Other		1		-		2		1		-		-		-		-
Ameren(a)	$	27	$	18	$	57	$	40	$	2	$	6	$	11	$	12

(a) Includes amounts for Ameren registrant and nonregistrant subsidiaries.