Employee Retirement Benefits

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Employee Retirement Benefits

Employee Retirement Benefits

The following summarizes the components of net periodic benefit for our qualified and supplemental pension plans:

(Dollars in millions)	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Service cost	$	1	$	2	$	4	$	7
Non-service (benefit) costs:
Interest cost	3		3		9		8
Expected return on plan assets	(5)		(6)		(15)		(17)
Amortization of actuarial loss and prior service cost	—		—		(2)		—
Other	—		—		(5)		—
Total non-service benefit	(2)		(3)		(13)		(9)
Net periodic benefit	$	(1)	$	(1)	$	(9)	$	(2)

See our 2022 Annual Report on Form 10-K, Item 8, Note 13, Employee Retirement Benefits, Page 163, for information on our retirement benefits. The net periodic benefit is allocated in the same proportion primarily to the underwriting, acquisition and insurance expenses line item with the remainder allocated to the insurance losses and contract holders' benefits line item on the condensed consolidated statements of income for both 2023 and 2022.

We made matching contributions totaling $6 million to our 401(k) and Top Hat savings plans during both the third quarter of 2023 and 2022 and contributions of $20 million for both the first nine months of 2023 and 2022.

We made no contributions to our qualified pension plan during the first nine months of 2023.