XML 131 R16.htm IDEA: XBRL DOCUMENT

DEFINED CONTRIBUTION PLANS

12 Months Ended

Dec. 31, 2014

Notes To Consolidated Financial Statements [Abstract]

Compensation and Employee Benefit Plans [Text Block]

B. Defined Contribution Plans

Effective January 1, 2014, NU maintains one defined contribution plan on behalf of eligible participants, the NUSCO 401k Plan. The NUSCO 401k Plan provides for employee and employer contributions up to statutory limits. For eligible employees, the NUSCO 401k Plan provides employer matching contributions of either 100 percent up to a maximum of three percent of eligible compensation or 50 percent up to a maximum of eight percent of eligible compensation. For newly hired employees beginning in 2014, the NUSCO 401k Plan provides employer matching contributions of 100 percent up to a maximum of three percent of eligible compensation.

The NUSCO 401k Plan also contains a K-Vantage feature on behalf of eligible participants, which provides an additional employer contribution based on age and years of service. K-Vantage participants are not eligible to actively participate in the NU defined benefit plans.

The total defined contribution plan employer matching contributions, including the K-Vantage program contributions, were as follows:

					NSTAR
(Millions of Dollars)	NU ⁽¹⁾		CL&P		Electric		PSNH		WMECO
2014	$	29.7	$	5.0	$	6.3	$	3.2	$	1.0
2013		37.0		5.1		8.5		3.3		1.0
2012		25.7		4.8		9.0		3.3		0.9

NSTAR amounts were included in NU beginning April 10, 2012.

Allocations of NU common shares were made from NU treasury shares to satisfy the NUSCO 401k Plan obligation to provide 100 percent of the matching contribution in NU common shares. For treasury shares used to satisfy the NUSCO 401k Plan employer matching contributions, compensation expense is recognized equal to the fair value of shares that have been allocated to participants. Any difference between the fair value and the average cost of the allocated treasury shares is charged or credited to Capital Surplus, Paid In. For the years ended December 31, 2014, 2013 and 2012, NU recognized $22 million, $9.1 million and $8.9 million, respectively, of compensation expense related to treasury shares used to satisfy the matching contribution.