EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2011

Employee Benefit Plans [Abstract]

EMPLOYEE BENEFIT PLANS

• 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 AXA Financial Group'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 September 30, 2011 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, AXA Financial Group 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 AXA Financial Group and AllianceBernstein for their respective qualified pension plans is to satisfy their respective funding obligations each year in an amount not less than the minimum required by ERISA, as amended by the Pension Act, and not greater than the maximum it can deduct for Federal income tax purposes.

In the first nine months of 2011, cash contributions by AllianceBernstein and AXA Financial Group (other than AllianceBernstein) to their respective qualified pension plans were $7 million and $757 million. AllianceBernstein and AXA Financial Group do not intend to make any additional contributions this year.

Components of certain benefit costs for AXA Financial Group were as follows:

			Three Months Ended				Nine Months Ended
			September 30,				September 30,
			2011		2010		2011		2010
			(In Millions)
Net Periodic Pension Expense:
(Qualified and Non-qualified Plans)
	Service cost		$	13	$	8	$	40	$	36
	Interest cost			42		45		127		136
	Expected return on assets			(34)		(33)		(104)		(98)
	Net amortization			42		36		126		109
		Total	$	63	$	56	$	189	$	183
Net Postretirement Benefits Costs:
	Service cost		$	-	$	1	$	1	$	2
	Interest cost			8		8		24		25
	Net amortization			2		1		5		3
		Total	$	10	$	10	$	30	$	30
Net Postemployment Benefits Costs:
	Service cost		$	2	$	2	$	5	$	5
	Interest cost			-		1		1		1
	Net amortization			(1)		4		(1)		4
		Total	$	1	$	7	$	5	$	10