XML 31 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Pension and Other Postretirement Employee Benefit Plans
 6 Months Ended
Jun. 30, 2020
Retirement Benefits [Abstract]  
Pension and Other Postretirement Employee Benefit Plans Pension and other postretirement employee benefit plans
Refer to Note 8 of JPMorgan Chase’s 2019 Form 10-K for a discussion of JPMorgan Chase’s pension and OPEB plans.
The following table presents the components of net periodic benefit costs reported in the Consolidated statements of income for the Firm’s U.S. and non-U.S. defined benefit pension, defined contribution and OPEB plans.
(in millions)
Three months ended June 30,
 
Six months ended June 30,
2020
2019
 
2020
2019
 
2020
2019
 
2020
2019
Pension plans
 
OPEB plans
 
Pension plans
 
OPEB plans
Components of net periodic benefit cost
 
 
 
 
 
 
 
 
 
 
 
Benefits earned during the period
$
8

$
89

 
$
—

$
—

 
$
16

$
178

 
$
—

$
—

Interest cost on benefit obligations
121

149

 
5

6

 
240

299

 
10

12

Expected return on plan assets
(192
)
(229
)
 
(28
)
(28
)
 
(383
)
(459
)
 
(55
)
(56
)
Amortization:
 
 
 
 
 
 
 
 
 
 
 

Net (gain)/loss
3

41

 
—

—

 
7

83

 
—

—

Prior service (credit)/cost
1

1

 
—

—

 
2

2

 
—

—

Net periodic defined benefit cost
(59
)
51

 
(23
)
(22
)
 
(118
)
103

 
(45
)
(44
)
Other defined benefit pension plans(a)
10

7

 
NA

NA

 
19

13

 
NA

NA

Total defined benefit plans
(49
)
58

 
(23
)
(22
)
 
(99
)
116

 
(45
)
(44
)
Total defined contribution plans
321

243

 
NA

NA

 
620

463

 
NA

NA

Total pension and OPEB cost included in noninterest expense
$
272

$
301

 
$
(23
)
$
(22
)
 
$
521

$
579

 
$
(45
)
$
(44
)
(a)
Includes various defined benefit pension plans which are individually immaterial.
The following table presents the fair values of plan assets for the U.S. defined benefit pension and OPEB plans and for the material non-U.S. defined benefit pension plans.
(in billions)
June 30,
2020

 
December 31, 2019

Fair value of plan assets
 
 
 
Defined benefit pension plans
$
20.6

 
$
20.4

OPEB plans
3.0

 
3.0


There are no expected contributions to the U.S. defined benefit pension plan for 2020.