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Pension, OPEB and Savings Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following table provides a roll-forward of the changes in the benefit obligation and the fair value of plan assets during each of the two years in the periods ended December 31, 2016 and 2015. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits
 
Other Benefits
 
 
 
 
2016
 
2015
 
2016
 
2015
 
 
 
 
Millions
 
 
Change in Benefit Obligation
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at Beginning of Year (A)
 
$
5,522

 
$
5,722

 
$
1,612

 
$
1,638

 
 
Service Cost
 
109

 
123

 
17

 
22

 
 
Interest Cost
 
202

 
234

 
59

 
67

 
 
Actuarial (Gain) Loss (B)
 
219

 
(289
)
 
127

 
(45
)
 
 
Gross Benefits Paid
 
(282
)
 
(268
)
 
(57
)
 
(70
)
 
 
Plan Amendments
 
2

 
—

 
(4
)
 
—

 
 
Benefit Obligation at End of Year (A)
 
$
5,772

 
$
5,522

 
$
1,754

 
$
1,612

 
 
Change in Plan Assets
 
 
 
 
 
 
 
 
 
 
Fair Value of Assets at Beginning of Year
 
$
5,039

 
$
5,293

 
$
374

 
$
361

 
 
Actual Return on Plan Assets
 
403

 
(11
)
 
32

 
(1
)
 
 
Employer Contributions
 
33

 
25

 
71

 
84

 
 
Gross Benefits Paid
 
(282
)
 
(268
)
 
(57
)
 
(70
)
 
 
Fair Value of Assets at End of Year
 
$
5,193

 
$
5,039

 
$
420

 
$
374

 
 
Funded Status
 
 
 
 
 
 
 
 
 
 
Funded Status (Plan Assets less Benefit Obligation)
 
$
(579
)
 
$
(483
)
 
$
(1,334
)
 
$
(1,238
)
 
 
Additional Amounts Recognized in the Consolidated Balance Sheets
 
 
 
 
 
 
 
 
 
 
Noncurrent Assets (included in Other Special Funds)
 
$
—

 
$
14

 
$
—

 
$
—

 
 
Current Accrued Benefit Cost
 
(11
)
 
(10
)
 
(10
)
 
(10
)
 
 
Noncurrent Accrued Benefit Cost
 
(568
)
 
(487
)
 
(1,324
)
 
(1,228
)
 
 
Amounts Recognized
 
$
(579
)
 
$
(483
)
 
$
(1,334
)
 
$
(1,238
)
 
 
Additional Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulated Assets and Deferred Assets (B)
 
 
 
 
Prior Service Cost
 
$
(63
)
 
$
(83
)
 
$
(14
)
 
$
(25
)
 
 
Net Actuarial Loss
 
1,763

 
1,710

 
523

 
438

 
 
Total
 
$
1,700

 
$
1,627

 
$
509

 
$
413

 
 
 
 
 
 
 
 
 
 
 
 
(A)
Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits.
(B)
Includes $679 million ($398 million, after-tax) and $658 million ($386 million, after-tax) in Accumulated Other Comprehensive Loss related to Pension and OPEB as of December 31, 2016 and 2015, respectively.
The following table provides a roll-forward of the changes in Servco’s benefit obligation and the fair value of its plan assets during the years ended December 31, 2016 and 2015. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits
 
Other Benefits
 
 
 
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
Millions
 
 
Change in Benefit Obligation
 
 
 
 
 
 
 
 
 
 
Benefit Obligation at Beginning of Year
 
$
211

 
$
195

 
$
375

 
$
452

 
 
Service Cost
 
24

 
26

 
12

 
17

 
 
Interest Cost
 
9

 
9

 
17

 
21

 
 
Actuarial (Gain) Loss
 
14

 
(20
)
 
50

 
(114
)
 
 
Gross Benefits Paid
 
(1
)
 
—

 
(2
)
 
(1
)
 
 
Plan Amendments
 
5

 
1

 
—

 
—

 
 
Benefit Obligation at End of Year (A)
 
$
262

 
$
211

 
$
452

 
$
375

 
 
Change in Plan Assets
 
 
 
 
 
 
 
 
 
 
Fair Value of Assets at Beginning of Year
 
$
97

 
$
69

 
$
—

 
$
—

 
 
Actual Return on Plan Assets
 
10

 
(2
)
 
—

 
—

 
 
Employer Contributions
 
28

 
30

 
2

 
1

 
 
Gross Benefits Paid
 
(1
)
 
—

 
(2
)
 
(1
)
 
 
Fair Value of Assets at End of Year
 
$
134

 
$
97

 
$
—

 
$
—

 
 
Funded Status
 
 
 
 
 
 
 
 
 
 
Funded Status (Plan Assets less Benefit Obligation)
 
$
(128
)
 
$
(114
)
 
$
(452
)
 
$
(375
)
 
 
Additional Amounts Recognized in the Consolidated Balance Sheets
 
 
 
 
 
 
 
 
 
 
Accrued Pension Costs of Servco
 
$
(128
)
 
$
(114
)
 
N/A

 
N/A

 
 
OPEB Costs of Servco
 
N/A

 
N/A

 
(452
)
 
(375
)
 
 
Amounts Recognized (B)
 
$
(128
)
 
$
(114
)
 
$
(452
)
 
$
(375
)
 
 
 
 
 
 
 
 
 
 
 
 
(A)
Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits.
(B)
Amounts equal to the accrued pension and OPEB costs of Servco are offset in Long-Term Receivable of VIE on PSEG’s Consolidated Balance Sheets.
Components Of Net Periodic Benefit Cost
The following table provides the components of net periodic benefit cost for the years ended December 31, 2016, 2015 and 2014.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits Years Ended December 31,
 
Other Benefits Years Ended December 31,
 
 
 
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
 
 
 
Millions
 
 
Components of Net Periodic Benefit Cost (Credit)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Service Cost
 
$
109

 
$
123

 
$
104

 
$
17

 
$
22

 
18

 
 
Interest Cost
 
202

 
234

 
234

 
59

 
67

 
69

 
 
Expected Return on Plan Assets
 
(394
)
 
(414
)
 
(399
)
 
(31
)
 
(31
)
 
(26
)
 
 
Amortization of Net
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Prior Service Credit
 
(19
)
 
(19
)
 
(18
)
 
(14
)
 
(14
)
 
(14
)
 
 
Actuarial Loss
 
158

 
150

 
56

 
40

 
43

 
23

 
 
Net Periodic Benefit Cost (Credit)
 
$
56

 
$
74

 
$
(23
)
 
$
71

 
$
87

 
$
70

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule Of Pension And OPEB Costs
Pension costs and OPEB costs for PSEG, PSE&G and Power are detailed as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits
Years Ended December 31,
 
Other Benefits
Years Ended December 31,
 
 
 
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
 
 
 
Millions
 
 
PSE&G
 
$
29

 
$
40

 
$
(19
)
 
$
43

 
$
55

 
$
46

 
 
Power
 
16

 
21

 
(7
)
 
23

 
27

 
20

 
 
Other
 
11

 
13

 
3

 
5

 
5

 
4

 
 
Total Benefit Cost (Credit)
 
$
56

 
$
74

 
$
(23
)
 
$
71

 
$
87

 
$
70

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table provides the pre-tax changes recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Deferred Assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension
 
OPEB
 
 
 
 
2016
 
2015
 
2016
 
2015
 
 
 
 
Millions
 
 
Net Actuarial (Gain) Loss in Current Period
 
$
211

 
$
136

 
$
125

 
$
(14
)
 
 
Amortization of Net Actuarial Gain (Loss)
 
(158
)
 
(150
)
 
(40
)
 
(43
)
 
 
Prior Service Cost (Credit) in current period
 
1

 
—

 
(3
)
 
—

 
 
Amortization of Prior Service Credit
 
19

 
19

 
14

 
14

 
 
Total
 
$
73

 
$
5

 
$
96

 
$
(43
)
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year
Amounts that are expected to be amortized from Accumulated Other Comprehensive Loss, Regulatory Assets and Deferred Assets into Net Periodic Benefit Cost in 2017 are as follows:
 
 
 
 
 
 
 
 
 
 
Pension
Benefits
 
Other
Benefits
 
 
 
 
2017
 
2017
 
 
 
 
Millions
 
 
Actuarial (Gain) Loss
 
$
97

 
$
51

 
 
Prior Service Cost
 
$
(18
)
 
$
(11
)
 
 
 
 
 
 
 
 
Schedule of Assumptions Used
The following assumptions were used to determine the benefit obligations and net periodic benefit costs:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits
 
Other Benefits
 
 
 
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
 
Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31
 
 
 
 
Discount Rate
 
4.29
%
 
4.54
%
 
4.20
%
 
4.37
%
 
4.58
%
 
4.21
%
 
 
Rate of Compensation Increase
 
3.61
%
 
3.61
%
 
3.61
%
 
3.61
%
 
3.61
%
 
3.61
%
 
 
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended December 31
 
 
 
 
Discount Rate
 
4.54
%
 
4.20
%
 
5.00
%
 
4.58
%
 
4.21
%
 
5.01
%
 
 
Service Cost Interest Rate
 
4.81
%
 
4.20
%
 
5.00
%
 
4.87
%
 
4.21
%
 
5.01
%
 
 
Interest Cost Interest Rate
 
3.75
%
 
4.20
%
 
5.00
%
 
3.76
%
 
4.21
%
 
5.01
%
 
 
Expected Return on Plan Assets
 
8.00
%
 
8.00
%
 
8.00
%
 
8.00
%
 
8.00
%
 
8.00
%
 
 
Rate of Compensation Increase
 
3.61
%
 
3.61
%
 
4.61
%
 
3.61
%
 
3.61
%
 
4.61
%
 
 
Assumed Health Care Cost Trend Rates as of December 31
 
 
 
 
 
 
 
 
 
 
Administrative Expense
 
 
 
 
 
 
 
3.00
%
 
3.00
%
 
3.00
%
 
 
Health Care Costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Immediate Rate
 
 
 
 
 
 
 
7.55
%
 
7.75
%
 
7.40
%
 
 
Ultimate Rate
 
 
 
 
 
 
 
4.75
%
 
4.75
%
 
5.00
%
 
 
Year Ultimate Rate Reached
 
 
 
 
 
 
 
2025

 
2025

 
2022

 
 
 
 
 
 
 
 
 
 
Millions
 
 
Effect of a 1% Increase in the Assumed Rate of Increase in Health Care Benefit Costs
 
 
 
 
Total of Service Cost and Interest Cost
 
 
 
 
 
 
 
$
11

 
$
12

 
$
13

 
 
Postretirement Benefit Obligation
 
 
 
 
 
 
 
$
191

 
$
194

 
$
201

 
 
Effect of a 1% Decrease in the Assumed Rate of Increase in Health Care Benefit Costs
 
 
 
 
Total of Service Cost and Interest Cost
 
 
 
 
 
 
 
$
(9
)
 
$
(10
)
 
$
(10
)
 
 
Postretirement Benefit Obligation
 
 
 
 
 
 
 
$
(160
)
 
$
(160
)
 
$
(165
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following assumptions were used to determine the benefit obligations of Servco:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension Benefits
 
Other Benefits
 
 
 
 
2016
 
2015
 
2014
 
2016
 
2015
 
2014
 
 
Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31
 
 
 
 
Discount Rate
 
4.61
%
 
4.92
%
 
4.50
%
 
4.71
%
 
4.97
%
 
4.60
%
 
 
Rate of Compensation Increase
 
3.25
%
 
3.25
%
 
3.25
%
 
3.25
%
 
3.25
%
 
3.25
%
 
 
Assumed Health Care Cost Trend Rates as of December 31
 
 
 
 
 
 
 
 
 
 
Administrative Expense
 
 
 
 
 
 
 
5.00
%
 
5.00
%
 
5.00
%
 
 
Health Care Costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Immediate Rate
 
 
 
 
 
 
 
7.55
%
 
7.55
%
 
7.33
%
 
 
Ultimate Rate
 
 
 
 
 
 
 
4.75
%
 
4.75
%
 
5.00
%
 
 
Year Ultimate Rate Reached
 
 
 
 
 
 
 
2025

 
2025

 
2021

 
 
 
 
 
 
 
 
 
 
Millions
 
 
Effect of a 1% Increase in the Assumed Rate of Increase in Health Care Benefit Costs
 
 
 
 
Postretirement Benefit Obligation
 
 
 
 
 
 
 
$
97

 
$
75

 
$
160

 
 
Effect of a 1% Decrease in the Assumed Rate of Increase in Health Care Benefit Costs
 
 
 
 
Postretirement Benefit Obligation
 
 
 
 
 
 
 
$
(75
)
 
$
(60
)
 
$
(106
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Allocation of Plan Assets
The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans as of the measurement date, December 31:
 
 
 
 
 
 
 
 
 
 
As of December 31,
 
 
Investments
 
2016
 
2015
 
 
Equity Securities
 
70
%
 
70
%
 
 
Fixed Income Securities
 
28

 
28

 
 
Other Investments
 
2

 
2

 
 
Total Percentage
 
100
%
 
100
%
 
 
 
 
 
 
 
 
The following tables present information about Servco’s investments measured at fair value on a recurring basis as of December 31, 2016 and 2015, including the fair value measurements and the levels of inputs used in determining those fair values.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring Fair Value Measurements as of December 31, 2016
 
 
 
 
 
 
Quoted Market Prices
for Identical Assets
 
Significant Other
Observable Inputs
 
Significant
Unobservable Inputs
 
 
Description
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
Millions
 
 
Commingled Equities (A)
 
$
96

 
$
—

 
$
96

 
$
—

 
 
Commingled Bonds (A)
 
38

 
—

 
38

 
—

 
 
Total
 
$
134

 
$
—

 
$
134

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring Fair Value Measurements as of December 31, 2015
 
 
 
 
 
 
Quoted Market Prices
for Identical Assets
 
Significant Other
Observable Inputs
 
Significant
Unobservable Inputs
 
 
Description
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
Millions
 
 
Commingled Equities (A)

 
$
68

 
$
—

 
$
68

 
$
—

 
 
Commingled Bonds (A)

 
29

 
—

 
29

 
—

 
 
Total
 
$
97

 
$
—

 
$
97

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
(A)
Investments in commingled equity and bond funds have a readily determinable fair value as they publish a daily NAV available to investors which is the basis for current transactions and contain certain redemption restrictions requiring advance notice of one to two days for withdrawals (Level 2). In 2016, PSEG re-evaluated the classification, within the fair value hierarchy, of its commingled funds. As a result, PSEG determined that the commingled equity funds should have been classified as Level 2 instead of Level 1, as previously presented for 2015, due to the funds having certain redemption restrictions which prevent daily redemptions at the published price. In addition to the advance notice of one or two days, redemption days may be limited to twice per month for certain funds. PSEG has determined that this error is immaterial to its previously filed financial reports and, accordingly, has corrected the error by revising the amounts disclosed for 2015 to report the commingled equity fund balance of $68 million as of December 31, 2015 as Level 2.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following tables present information about the investments measured at fair value on a recurring basis as of December 31, 2016 and 2015, including the fair value measurements and the levels of inputs used in determining those fair values.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring Fair Value Measurements as of December 31, 2016
 
 
 
 
 
 
Quoted Market Prices
for Identical Assets
 
Significant Other
Observable Inputs
 
Significant
Unobservable Inputs
 
 
Description
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
Millions
 
 
Cash Equivalents (A)
 
$
107

 
$
105

 
$
2

 
$
—

 
 
Equities (B)
 


 
 
 
 
 
 
 
 
  Common Stock
 
944

 
944

 
—

 
—

 
 
  Commingled (C)
 
1,387

 
1,247

 
140

 
—

 
 
  Preferred Stock
 
1

 
1

 
—

 
—

 
 
Bonds (D)
 


 
 
 
 
 
 
 
 
  US Treasury
 
441

 
—

 
441

 
—

 
 
  Government—Other
 
263

 
—

 
263

 
—

 
 
  Corporate
 
836

 
—

 
836

 
—

 
 
Subtotal Fair Value
 
$
3,979

 
$
2,297

 
$
1,682

 
$
—

 
 
Measured at net asset value practical expedient (C)
 
 
 
 
 
 
 
 
 
 
Commingled—Equities
 
1,604

 
 
 
 
 
 
 
 
Private Equity (E)
 
16

 
 
 
 
 
 
 
 
Total Fair Value (F)
 
$
5,599

 


 


 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring Fair Value Measurements as of December 31, 2015
 
 
 
 
 
 
Quoted Market Prices
for Identical Assets
 
Significant Other
Observable Inputs
 
Significant
Unobservable Inputs
 
 
Description
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
Millions
 
 
Cash Equivalents (A)
 
$
96

 
$
95

 
$
1

 
$
—

 
 
Equities (B)
 


 
 
 
 
 
 
 
 
  Common Stock
 
816

 
816

 
—

 
—

 
 
  Commingled (C)
 
1,463

 
1,269

 
194

 
—

 
 
Bonds (D)
 


 
 
 
 
 
 
 
 
  US Treasury
 
322

 
—

 
322

 
—

 
 
  Government—Other
 
279

 
—

 
279

 
—

 
 
  Corporate
 
906

 
—

 
906

 
—

 
 
Subtotal Fair Value
 
$
3,882

 
$
2,180

 
$
1,702

 
$
—

 
 
Measured at net asset value practical expedient (C)
 
 
 
 
 
 
 
 
 
 
Commingled—Equities
 
1,504

 
 
 
 
 
 
 
 
Private Equity (E)
 
19

 
 
 
 
 
 
 
 
Total Fair Value (F)
 
$
5,405

 


 


 


 
 
 
 
 
 
 
 
 
 
 
 
(A)
Certain open-ended mutual funds with mainly short-term investments are valued based on unadjusted quoted prices in active market (Level 1). Certain temporary investments are valued using inputs such as time-to-maturity, coupon rate, quality rating and current yield (Level 2).
(B)
Common stocks and preferred stocks are measured using observable data in active markets and considered Level 1. Investments in certain commingled equity funds are measured at their published daily net asset value (NAV) available to investors; if they are redeemable daily without restrictions, they are classified as Level 1 or, if they have restrictions which prevent daily redemptions, they are classified as Level 2.
(C)
In 2016, PSEG re-evaluated the classification, within the fair value hierarchy, of its commingled equity funds. As a result, PSEG determined that certain commingled funds in the amount of $1,698 million at December 31, 2015 should have been classified as Level 2 instead of Level 1, as previously presented for 2015, due to the funds having certain redemption restrictions which prevent daily redemptions at their published price. PSEG has determined that this error is immaterial to its previously filed financial reports and, accordingly, has corrected the error by revising the amounts disclosed for 2015 to report such investments as Level 2. In addition, as part of our implementation of the new accounting guidance on investments measured at fair value using NAV as a practical expedient in 2016, the majority of these same commingled equity funds have been removed from the fair value hierarchy as they are measured at fair value using the NAV per share (or its equivalent) practical expedient. See Note 2. Recent Accounting Standards. These funds do not meet the definition of readily determinable fair value due to limitations in published NAV (last business day of the month) and include certain redemption restrictions ranging from one to fifteen days advance notice prior to redemption days and limitations on withdrawals over 25% of the total fund. The objectives of these funds are mainly tracking the S&P Index or achieving long-term growth through investment in foreign equity securities and the MSCI Emerging Markets Index. As a result of the error correction for the $1,698 million that should have been classified as Level 2 for 2015 and $1,504 million that was removed from the fair value hierarchy as part of the new guidance on NAV practical expedient implementation, $194 million has been reclassified to Level 2 as of December 31, 2015.
(D)
Fixed income securities include mainly investment grade corporate and municipal bonds, US Treasury obligations and Federal Agency asset-backed securities with a wide range of maturities. These investments are valued using an evaluated pricing approach that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads or the most recent quoted for similar securities which are a Level 2 measure.
(E)
Private equity investments include various limited partnerships that invest in operating companies through acquisitions or developing a portfolio of non-US distressed investments. These investments are valued at NAV on an annual basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. These investments have been removed from the fair value hierarchy in accordance with the new guidance on NAV practical expedient.
(F)
Excludes net receivable of $14 million and $8 million at December 31, 2016 and 2015, respectively, which consists of interest and dividend, receivables and payables related to pending securities sales and purchases.
Schedule Of Percentage Of Fair Value Of Total Plan Assets
The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans of Servco as of the measurement date, December 31:
 
 
 
 
 
 
 
 
 
 
As of December 31,
 
 
Investments
 
2016
 
2015
 
 
Equity Securities
 
71
%
 
71
%
 
 
Fixed Income Securities
 
29

 
29

 
 
Total Percentage
 
100
%
 
100
%
 
 
 
 
 
 
 
 
Schedule of Expected Benefit Payments
The following pension benefit and postretirement benefit payments are expected to be paid to Servco’s plan participants:
 
 
 
 
 
 
 
 
 
Year
 
 
Pension
Benefits
 
Other Benefits
 
 
 
 
 
Millions
 
 
2017
 
 
$
2

 
$
4

 
 
2018
 
 
3

 
6

 
 
2019
 
 
5

 
9

 
 
2020
 
 
7

 
11

 
 
2021
 
 
8

 
13

 
 
2022-2026
 
 
76

 
96

 
 
Total
 
 
$
101

 
$
139

 
 
 
 
 
 
 
 
 
The following pension benefit and postretirement benefit payments are expected to be paid to plan participants.
 
 
 
 
 
 
 
 
 
Year
 
 
Pension
Benefits
 
Other Benefits
 
 
 
 
 
Millions
 
 
2017
 
 
$
310

 
$
82

 
 
2018
 
 
307

 
86

 
 
2019
 
 
319

 
90

 
 
2020
 
 
331

 
94

 
 
2021
 
 
343

 
99

 
 
2022-2026
 
 
1,887

 
534

 
 
Total
 
 
$
3,497

 
$
985

 
 
 
 
 
 
 
 
 
Schedule Of Amount Paid For Employer Matching Contributions
The amount paid for employer matching contributions to the plans for PSEG, PSE&G and Power are detailed as follows:
 
 
 
 
 
 
 
 
 
 
 
 
Thrift Plan and Savings Plan
 
 
 
 
Years Ended December 31,
 
 
 
 
2016
 
2015
 
2014
 
 
 
 
Millions
 
 
PSE&G
 
$
24

 
$
22

 
$
20

 
 
Power
 
12

 
12

 
11

 
 
Other
 
5

 
5

 
5

 
 
Total Employer Matching Contributions
 
$
41

 
$
39

 
$
36