EMPLOYEE BENEFITS

3 Months Ended

Mar. 31, 2019

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS

14. Employee Benefits

We sponsor various defined benefit pension plans, post-retirement medical and life insurance plans for eligible employees and retirees in the U.S. and certain non-U.S. countries.

The following table presents the components of net periodic benefit cost with respect to pensions and other postretirement benefits:

	Pension						Postretirement
		U.S.		Non-U.S.				U.S.		Non-U.S.
(in millions)		Plans		Plans		Total		Plans		Plans		Total
Three Months Ended March 31, 2019
Components of net periodic benefit cost:
Service cost	$	2	$	6	$	8	$	-	$	-	$	-
Interest cost		44		4		48		2		-		2
Expected return on assets		(57)		(5)		(62)		-		-		-
Amortization of prior service cost		-		-		-		-		-		-
Amortization of net loss		8		1		9		-		-		-
Net periodic benefit cost (credit)		(3)		6		3		2		-		2
Settlement gain		-		(4)		(4)		-		-		-
Net benefit cost (credit)	$	(3)	$	2	$	(1)	$	2	$	-	$	2
Three Months Ended March 31, 2018
Components of net periodic benefit cost:
Service cost	$	2	$	6	$	8	$	-	$	-	$	-
Interest cost		41		4		45		2		-		2
Expected return on assets		(71)		(7)		(78)		-		-		-
Amortization of prior service cost		-		1		1		-		-		-
Amortization of net loss		7		2		9		-		-		-
Net periodic benefit cost (credit)		(21)		6		(15)		2		-		2
Settlement gain		-		-		-		-		-		-
Net benefit cost (credit)	$	(21)	$	6	$	(15)	$	2	$	-	$	2

For the three-month period ended March 31,2019, we did not make any contributionsto the U.S. AIG Retirement Plan.