EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2012

Employee Benefit Plans [Abstract]

EMPLOYEE BENEFIT PLANS

7)       EMPLOYEE BENEFIT PLANS

The Health Acts signed into law in March 2010, are expected to have both immediate and long-term financial reporting implications for many employers who sponsor health plans for active employees and retirees. While many of the provisions of the Health Acts do not take effect until future years and are intended to coincide with fundamental changes to the healthcare system, current-period measurement of the benefits obligation is required to reflect an estimate of the potential implications of presently enacted law changes absent consideration of potential future plan modifications. Many of the specifics associated with this new healthcare legislation remain unclear, and further guidance is expected to become available as clarifying regulations are issued to address how the law is to be implemented. Management, in consultation with its actuarial advisors in respect of the Company's health and welfare plans, has concluded that a reasonable and reliable estimate of the impact of the Health Acts on future benefit levels cannot be made as of June 30, 2012 due to the significant uncertainty and complexity of many aspects of the new law.

Included among the major provisions of the Health Acts is a change in the tax treatment of the Medicare Part D subsidy. The subsidy came into existence with the enactment of the MMA in 2003 and is available to sponsors of retiree health benefit plans with a prescription drug benefit that is “actuarially equivalent” to the benefit provided by the Medicare Part D program. Prior to the Health Acts, sponsors were permitted to deduct the full cost of these retiree prescription drug plans without reduction for subsidies received. Although the Medicare Part D subsidy does not become taxable until years beginning after December 31, 2012, the effects of changes in tax law had to be recognized immediately in the income statement of the period of enactment. When MMA was enacted, the Company reduced its health benefits obligation to reflect the expected future subsidies from this program but did not establish a deferred tax asset for the value of the related future tax deductions. Consequently, passage of the Health Acts did not result in adjustment of the deferred tax accounts.

The funding policy of the Company for its qualified pension plans is to satisfy its funding obligations each year in an amount not less than the minimum required by the ERISA, as amended by the Pension Act, and not greater than the maximum it can deduct for Federal income tax purposes.

In the first six months of 2012, no cash contributions were made by AXA Equitableto its qualified pension plans. Based on the funded status of the Company's plans at June 30, 2012, no minimum contribution is required to be made in 2012 under ERISA, as amended by the Pension Act. AXA Equitable intends to make a discretionary contribution of approximately $260 million to its pension plan later this year. As of August 2, 2012, AllianceBernstein has not made any contributions in 2012 to its qualified pension plan and currently intends to contribute approximately $6 million later this year.

On January 31, 2012, AXA Equitable amended the terms of its qualified defined pension plan. Under the amended terms,the interest crediting rate for pay credits earned on or after April 1, 2012 (and any interest credits accrued or accruing in the future for these pay credits) will be based solely on the average daily rates for one-year Treasury Constant Maturities. This change will not affect pay credits credited prior to April 1, 2012 (and interest credits accrued or accruing in the future on these pay credits) where the annual interest crediting rate will continue to be the greater of 4.0% and the rate derived from the average daily rates for one-year Treasury Constant Maturities.

Effective February 11, 2012, AXA Equitable eliminated the 3% Company match in its qualified defined contribution plan and replaced it with a discretionary profit sharing contribution. The amount of any discretionary profit sharing contribution for a calendar year will be based on company performance for that year and will range from 0.0% to 4.0% of eligible compensation.

Components of certain benefit costs for the Company were as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
	(In Millions)
Net Periodic Pension Expense:
(Qualified and Non-qualified Plans)
Service cost	$	11	$	10	$	22	$	20
Interest cost		27		30		53		60
Expected return on assets		(35)		(30)		(69)		(60)
Net amortization		41		36		82		72
Net Periodic Pension Expense	$	44	$	46	$	88	$	92