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Pension and OPEB (Tables)
3 Months Ended
Mar. 31, 2014
Text Block [Abstract]  
Components Of Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits
 
OPEB
 
 
 
Three Months Ended
 
Three Months Ended
 
 
 
March 31,
 
March 31,
 
 
 
2014
 
2013
 
2014
 
2013
 
 
 
Millions
 
 
Components of Net Periodic Benefit Cost
 
 
 
 
 
 
 
 
 
Service Cost
$
26

 
$
29

 
$
5

 
$
5

 
 
Interest Cost
59

 
54

 
17

 
16

 
 
Expected Return on Plan Assets
(100
)
 
(87
)
 
(7
)
 
(5
)
 
 
Amortization of Net
 
 
 
 
 
 
 
 
 
Prior Service Cost (Credit)
(5
)
 
(5
)
 
(4
)
 
(4
)
 
 
Actuarial Loss
14

 
47

 
6

 
11

 
 
Total Benefit Costs
$
(6
)
 
$
38

 
$
17

 
$
23

 
 
 
 
 
 
 
 
 
 
 
Schedule Of Pension And OPEB Costs
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits
 
OPEB
 
 
 
Three Months Ended
 
Three Months Ended
 
 
 
March 31,
 
March 31,
 
 
 
2014
 
2013
 
2014
 
2013
 
 
 
Millions
 
 
Power
$
(2
)
 
$
11

 
$
5

 
$
6

 
 
PSE&G
(5
)
 
23

 
11

 
16

 
 
Other
1

 
4

 
1

 
1

 
 
Total Benefit Costs
$
(6
)
 
$
38

 
$
17

 
$
23

 
 
 
 
 
 
 
 
 
 
 
Schedule of Assumptions Used for Servco
The following assumptions were used to determine the benefit obligations of Servco:
 
 
 
 
 
 
 
 
 
 
Pension Benefits
 
Other Benefits
 
 
 
 
January 1, 2014
 
 
Weighted-Average Assumptions Used to Determine Benefit Obligations as of January 1, 2014
 
 
 
 
 
 
Discount Rate
 
5.50
%
 
5.40
%
 
 
Rate of Compensation Increase
 
2.50
%
 
2.50
%
 
 
Assumed Health Care Cost Trend Rates as of January 1, 2014
 
 
 
 
Administrative Expense
 
 
 
5.00
%
 
 
Dental Costs
 
 
 
5.00
%
 
 
Pre-65 Medical Costs
 
 
 
 
 
 
Immediate Rate
 
 
 
7.50
%
 
 
Ultimate Rate
 
 
 
5.00
%
 
 
Year Ultimate Rate Reached
 
 
 
2019

 
 
Post-65 Medical Costs
 
 
 
 
 
 
Immediate Rate
 
 
 
7.50
%
 
 
Ultimate Rate
 
 
 
5.00
%
 
 
Year Ultimate Rate Reached
 
 
 
2019
 
 
 
 
 
 
Millions
 
 
Effect of a 1% Increase in the Assumed Rate of Increase in Health Care Benefit Costs
 
 
Postretirement Benefit Obligation
 
 
 
$
62

 
 
Effect of a 1% Decrease in the Assumed Rate of Increase in Health Care Benefit Costs
 
 
Postretirement Benefit Obligation
 
 
 
$
(49
)
 
 
 
 
 
 
 
 
Schedule of Expected Benefit Payments by Servco
The following pension benefit and postretirement benefit payments are expected to be paid to Servco's plan participants:
 
 
 
 
 
 
 
 
 
Year
 
 
Pension
Benefits
 
Other Benefits
 
 
 
 
 
Millions
 
 
2014
 
 
$

 
$
1

 
 
2015
 
 

 
3

 
 
2016
 
 
1

 
4

 
 
2017
 
 
2

 
6

 
 
2018
 
 
3

 
8

 
 
2019-2023
 
 
37

 
65

 
 
Total
 
 
$
43

 
$
87