Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Benefit Plan Obligations, Assets, Funded Status, Accumulated Other Comprehensive Income (Loss) and Accumulated Benefit Obligation

	December 31,
	2015						2014
	Pension Benefits (1)			Other Postretirement Benefits			Pension Benefits (1)			Other Postretirement Benefits
	(In millions)
Change in benefit obligations
Benefit obligations at January 1,	$	11,001		$	2,145		$	9,335		$	1,875
Service costs	276			17			262			16
Interest costs	423			90			456			94
Plan participants’ contributions	—			30			—			30
Net actuarial (gains) losses	(627		)	(235		)	1,607			264
Acquisition, divestitures, settlements and curtailments	(4		)	(2		)	(18		)	(5		)
Change in benefits	—			(7		)	(4		)	(9		)
Benefits paid	(531		)	(109		)	(536		)	(116		)
Effect of foreign currency translation	(32		)	(5		)	(101		)	(4		)
Benefit obligations at December 31,	10,506			1,924			11,001			2,145
Change in plan assets
Estimated fair value of plan assets at January 1,	9,003			1,436			8,024			1,366
Actual return on plan assets	(127		)	4			1,108			112
Acquisition, divestitures and settlements	(3		)	(4		)	(10		)	—
Plan participants’ contributions	—			30			—			30
Employer contributions	424			26			450			44
Benefits paid	(531		)	(109		)	(536		)	(116		)
Effect of foreign currency translation	(15		)	(1		)	(33		)	—
Estimated fair value of plan assets at December 31,	8,751			1,382			9,003			1,436
Over (under) funded status at December 31,	$	(1,755	)	$	(542	)	$	(1,998	)	$	(709	)
Amounts recognized in the consolidated balance sheets
Other assets	$	5		$	1		$	7		$	1
Other liabilities	(1,760		)	(543		)	(2,005		)	(710		)
Net amount recognized	$	(1,755	)	$	(542	)	$	(1,998	)	$	(709	)
AOCI
Net actuarial (gains) losses	$	2,945		$	222		$	3,093		$	425
Prior service costs (credit)	—			(14		)	(1		)	(10		)
AOCI, before income tax	$	2,945		$	208		$	3,092		$	415
Accumulated benefit obligation	$	10,082		N/A			$	10,355		N/A

_____________

(1) Includes nonqualified unfunded plans, for which the aggregate PBO was $1.1 billion and $1.3 billion at December 31, 2015 and 2014, respectively.

Benefit Plan Obligations, Assets, Funded Status, Accumulated Other Comprehensive Income (Loss) and Accumulated Benefit Obligation

	December 31,
	2015						2014
	Pension Benefits (1)			Other Postretirement Benefits			Pension Benefits (1)			Other Postretirement Benefits
	(In millions)
Change in benefit obligations
Benefit obligations at January 1,	$	11,001		$	2,145		$	9,335		$	1,875
Service costs	276			17			262			16
Interest costs	423			90			456			94
Plan participants’ contributions	—			30			—			30
Net actuarial (gains) losses	(627		)	(235		)	1,607			264
Acquisition, divestitures, settlements and curtailments	(4		)	(2		)	(18		)	(5		)
Change in benefits	—			(7		)	(4		)	(9		)
Benefits paid	(531		)	(109		)	(536		)	(116		)
Effect of foreign currency translation	(32		)	(5		)	(101		)	(4		)
Benefit obligations at December 31,	10,506			1,924			11,001			2,145
Change in plan assets
Estimated fair value of plan assets at January 1,	9,003			1,436			8,024			1,366
Actual return on plan assets	(127		)	4			1,108			112
Acquisition, divestitures and settlements	(3		)	(4		)	(10		)	—
Plan participants’ contributions	—			30			—			30
Employer contributions	424			26			450			44
Benefits paid	(531		)	(109		)	(536		)	(116		)
Effect of foreign currency translation	(15		)	(1		)	(33		)	—
Estimated fair value of plan assets at December 31,	8,751			1,382			9,003			1,436
Over (under) funded status at December 31,	$	(1,755	)	$	(542	)	$	(1,998	)	$	(709	)
Amounts recognized in the consolidated balance sheets
Other assets	$	5		$	1		$	7		$	1
Other liabilities	(1,760		)	(543		)	(2,005		)	(710		)
Net amount recognized	$	(1,755	)	$	(542	)	$	(1,998	)	$	(709	)
AOCI
Net actuarial (gains) losses	$	2,945		$	222		$	3,093		$	425
Prior service costs (credit)	—			(14		)	(1		)	(10		)
AOCI, before income tax	$	2,945		$	208		$	3,092		$	415
Accumulated benefit obligation	$	10,082		N/A			$	10,355		N/A

_____________

(1) Includes nonqualified unfunded plans, for which the aggregate PBO was $1.1 billion and $1.3 billion at December 31, 2015 and 2014, respectively.

Benefit Plan Obligations, Assets, Funded Status, Accumulated Other Comprehensive Income (Loss) and Accumulated Benefit Obligation

	December 31,
	2015						2014
	Pension Benefits (1)			Other Postretirement Benefits			Pension Benefits (1)			Other Postretirement Benefits
	(In millions)
Change in benefit obligations
Benefit obligations at January 1,	$	11,001		$	2,145		$	9,335		$	1,875
Service costs	276			17			262			16
Interest costs	423			90			456			94
Plan participants’ contributions	—			30			—			30
Net actuarial (gains) losses	(627		)	(235		)	1,607			264
Acquisition, divestitures, settlements and curtailments	(4		)	(2		)	(18		)	(5		)
Change in benefits	—			(7		)	(4		)	(9		)
Benefits paid	(531		)	(109		)	(536		)	(116		)
Effect of foreign currency translation	(32		)	(5		)	(101		)	(4		)
Benefit obligations at December 31,	10,506			1,924			11,001			2,145
Change in plan assets
Estimated fair value of plan assets at January 1,	9,003			1,436			8,024			1,366
Actual return on plan assets	(127		)	4			1,108			112
Acquisition, divestitures and settlements	(3		)	(4		)	(10		)	—
Plan participants’ contributions	—			30			—			30
Employer contributions	424			26			450			44
Benefits paid	(531		)	(109		)	(536		)	(116		)
Effect of foreign currency translation	(15		)	(1		)	(33		)	—
Estimated fair value of plan assets at December 31,	8,751			1,382			9,003			1,436
Over (under) funded status at December 31,	$	(1,755	)	$	(542	)	$	(1,998	)	$	(709	)
Amounts recognized in the consolidated balance sheets
Other assets	$	5		$	1		$	7		$	1
Other liabilities	(1,760		)	(543		)	(2,005		)	(710		)
Net amount recognized	$	(1,755	)	$	(542	)	$	(1,998	)	$	(709	)
AOCI
Net actuarial (gains) losses	$	2,945		$	222		$	3,093		$	425
Prior service costs (credit)	—			(14		)	(1		)	(10		)
AOCI, before income tax	$	2,945		$	208		$	3,092		$	415
Accumulated benefit obligation	$	10,082		N/A			$	10,355		N/A

_____________

(1) Includes nonqualified unfunded plans, for which the aggregate PBO was $1.1 billion and $1.3 billion at December 31, 2015 and 2014, respectively.

Accumulated benefit obligations in excess of fair value of plan assets

Information for pension plans with PBOs in excess of plan assets and accumulated benefit obligations (“ABO”) in excess of plan assets was as follows at:

	December 31,
	2015		2014		2015		2014
	PBO Exceeds Estimated Fair Value of Plan Assets				ABO Exceeds Estimated Fair Value of Plan Assets
	(In millions)
Projected benefit obligations	$	10,437	$	10,944	$	2,476	$	2,615
Accumulated benefit obligations	$	10,052	$	10,304	$	2,340	$	2,362
Estimated fair value of plan assets	$	8,715	$	8,931	$	839	$	853

Defined benefit plan pension plans with projected benefit obligations in excess of plan assets

Information for pension plans with PBOs in excess of plan assets and accumulated benefit obligations (“ABO”) in excess of plan assets was as follows at:

	December 31,
	2015		2014		2015		2014
	PBO Exceeds Estimated Fair Value of Plan Assets				ABO Exceeds Estimated Fair Value of Plan Assets
	(In millions)
Projected benefit obligations	$	10,437	$	10,944	$	2,476	$	2,615
Accumulated benefit obligations	$	10,052	$	10,304	$	2,340	$	2,362
Estimated fair value of plan assets	$	8,715	$	8,931	$	839	$	853

Net periodic benefit costs and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)

The benefit obligations, funded status and net periodic benefit costs related to these pension and other postretirement benefits were comprised of the following:

	December 31, 2015																		December 31, 2014
	Pension Benefits									Other Postretirement Benefits									Pension Benefits									Other Postretirement Benefits
	U.S. Plans			Non-U.S. Plans			Total			U.S. Plans			Non-U.S. Plans			Total			U.S. Plans			Non-U.S. Plans			Total			U.S. Plans			Non-U.S. Plans			Total
	(In millions)
Benefit obligations	$	9,759		$	747		$	10,506		$	1,895		$	29		$	1,924		$	10,262		$	739		$	11,001		$	2,110		$	35		$	2,145
Estimated fair value of plan assets	8,490			261			8,751			1,373			9			1,382			8,750			253			9,003			1,426			10			1,436
Over (under) funded status	$	(1,269	)	$	(486	)	$	(1,755	)	$	(522	)	$	(20	)	$	(542	)	$	(1,512	)	$	(486	)	$	(1,998	)	$	(684	)	$	(25	)	$	(709	)
Net periodic benefit costs	$	273		$	73		$	346		$	63		$	6		$	69		$	346		$	79		$	425		$	43		$	5		$	48

The components of net periodic benefit costs and other changes in plan assets and benefit obligations recognized in OCI were as follows:

	Years Ended December 31,
	2015						2014						2013
	Pension Benefits			Other Postretirement Benefits			Pension Benefits			Other Postretirement Benefits			Pension Benefits			Other Postretirement Benefits
	(In millions)
Net periodic benefit costs
Service costs	$	276		$	17		$	262		$	16		$	303		$	22
Interest costs	423			90			456			94			403			94
Settlement and curtailment costs	(1		)	3			19			4			(2		)	1
Expected return on plan assets	(542		)	(80		)	(482		)	(76		)	(489		)	(76		)
Amortization of net actuarial (gains) losses	191			42			169			11			228			55
Amortization of prior service costs (credit)	(1		)	(3		)	1			(1		)	6			(75		)
Total net periodic benefit costs (credit)	346			69			425			48			449			21
Other changes in plan assets and benefit obligations recognized in OCI
Net actuarial (gains) losses	43			(161		)	960			223			(544		)	(532		)
Prior service costs (credit)	—			(7		)	(20		)	(13		)	—			—
Amortization of net actuarial (gains) losses	(191		)	(42		)	(169		)	(11		)	(228		)	(57		)
Amortization of prior service (costs) credit	1			3			(1		)	1			(6		)	75
Total recognized in OCI	(147		)	(207		)	770			200			(778		)	(514		)
Total recognized in net periodic benefit costs and OCI	$	199		$	(138	)	$	1,195		$	248		$	(329	)	$	(493	)

Net periodic benefit costs and other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)

The components of net periodic benefit costs and other changes in plan assets and benefit obligations recognized in OCI were as follows:

	Years Ended December 31,
	2015						2014						2013
	Pension Benefits			Other Postretirement Benefits			Pension Benefits			Other Postretirement Benefits			Pension Benefits			Other Postretirement Benefits
	(In millions)
Net periodic benefit costs
Service costs	$	276		$	17		$	262		$	16		$	303		$	22
Interest costs	423			90			456			94			403			94
Settlement and curtailment costs	(1		)	3			19			4			(2		)	1
Expected return on plan assets	(542		)	(80		)	(482		)	(76		)	(489		)	(76		)
Amortization of net actuarial (gains) losses	191			42			169			11			228			55
Amortization of prior service costs (credit)	(1		)	(3		)	1			(1		)	6			(75		)
Total net periodic benefit costs (credit)	346			69			425			48			449			21
Other changes in plan assets and benefit obligations recognized in OCI
Net actuarial (gains) losses	43			(161		)	960			223			(544		)	(532		)
Prior service costs (credit)	—			(7		)	(20		)	(13		)	—			—
Amortization of net actuarial (gains) losses	(191		)	(42		)	(169		)	(11		)	(228		)	(57		)
Amortization of prior service (costs) credit	1			3			(1		)	1			(6		)	75
Total recognized in OCI	(147		)	(207		)	770			200			(778		)	(514		)
Total recognized in net periodic benefit costs and OCI	$	199		$	(138	)	$	1,195		$	248		$	(329	)	$	(493	)

Assumptions used in determining benefit obligations and net periodic benefit costs

Assumptions used in determining benefit obligations for the U.S. plans were as follows:

	Pension Benefits				Other Postretirement Benefits
December 31, 2015
Weighted average discount rate	4.50%				4.60%
Rate of compensation increase	2.25	%	-	8.50%	N/A
December 31, 2014
Weighted average discount rate	4.10%				4.10%
Rate of compensation increase	2.25	%	-	8.50%	N/A

Assumptions used in determining net periodic benefit costs for the U.S. Plans were as follows:

	Pension Benefits				Other Postretirement Benefits
Year Ended December 31, 2015
Weighted average discount rate	4.10%				4.10%
Weighted average expected rate of return on plan assets	6.25%				5.70%
Rate of compensation increase	2.25	%	-	8.50%	N/A
Year Ended December 31, 2014
Weighted average discount rate	5.15%				5.15%
Weighted average expected rate of return on plan assets	6.25%				5.70%
Rate of compensation increase	3.50	%	-	7.50%	N/A
Year Ended December 31, 2013
Weighted average discount rate	4.20%				4.20%
Weighted average expected rate of return on plan assets	6.25%				5.76%
Rate of compensation increase	3.50	%	-	7.50%	N/A

Assumed healthcare costs trend rates

The assumed healthcare costs trend rates used in measuring the APBO and net periodic benefit costs were as follows:

	December 31,
	2015				2014
	Before Age 65		Age 65 and older		Before Age 65		Age 65 and older
Following year	6.3	%	10.3	%	6.4	%	6.4	%
Ultimate rate to which cost increase is assumed to decline	4.2	%	4.6	%	4.4	%	4.7	%
Year in which the ultimate trend rate is reached	2086		2091		2094		2089

One-percentage point change in assumed healthcare cost trend rates

Assumed healthcare costs trend rates may have a significant effect on the amounts reported for healthcare plans. A 1% change in assumed healthcare costs trend rates would have the following effects on the U.S. Plans as of December 31, 2015:

	One Percent Increase		One Percent Decrease
	(In millions)
Effect on total of service and interest costs components	$	15	$	(12	)
Effect of accumulated postretirement benefit obligations	$	253	$	(207	)

As of December 31, 2014, the improved mortality rate assumption used for all U.S. pension and postretirement benefit plans is the RP-2000 healthy mortality table projected generationally using 175% of Scale AA. The mortality rate assumption was revised based upon the results of a comprehensive study of MetLife’s demographic experience and reflects the current best estimate of expected mortality rates for MetLife’s participant population. Prior to December 31, 2014, the mortality rate assumption used to value the benefit obligations and net periodic benefit cost for these plans was the RP-2000 healthy mortality table projected generationally using 100% of Scale AA. 

Plan Assets

The pension and other postretirement plan assets measured at estimated fair value on a recurring basis and their corresponding placement in the fair value hierarchy are summarized as follows:

	December 31, 2015
	Pension Benefits								Other Postretirement Benefits
	Fair Value Hierarchy								Fair Value Hierarchy
	Level 1		Level 2		Level 3		Total Estimated Fair Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Fixed maturity securities:
Corporate	$	—	$	2,979	$	78	$	3,057	$	18	$	281	$	1	$	300
U.S. government bonds	994		493		—		1,487		193		12		—		205
Foreign bonds	—		764		17		781		—		69		—		69
Federal agencies	—		228		—		228		—		34		—		34
Municipals	—		302		—		302		—		56		—		56
Other (1)	—		354		7		361		—		47		—		47
Total fixed maturity securities	994		5,120		102		6,216		211		499		1		711
Equity securities:
Common stock - domestic	751		24		—		775		126		—		—		126
Common stock - foreign	378		61		—		439		111		—		—		111
Total equity securities	1,129		85		—		1,214		237		—		—		237
Other investments	32		84		723		839		—		—		—		—
Short-term investments	10		309		—		319		1		431		—		432
Money market securities	9		49		—		58		—		—		—		—
Derivative assets	26		3		76		105		2		—		—		2
Total assets	$	2,200	$	5,650	$	901	$	8,751	$	451	$	930	$	1	$	1,382

	December 31, 2014
	Pension Benefits								Other Postretirement Benefits
	Fair Value Hierarchy								Fair Value Hierarchy
	Level 1		Level 2		Level 3		Total Estimated Fair Value		Level 1		Level 2		Level 3		Total Estimated Fair Value
	(In millions)
Assets
Fixed maturity securities:
Corporate	$	—	$	2,704	$	80	$	2,784	$	42	$	244	$	3	$	289
U.S. government bonds	1,605		223		—		1,828		169		12		—		181
Foreign bonds	—		808		17		825		—		78		—		78
Federal agencies	—		254		—		254		—		35		—		35
Municipals	—		270		—		270		—		74		—		74
Other (1)	—		188		8		196		—		63		—		63
Total fixed maturity securities	1,605		4,447		105		6,157		211		506		3		720
Equity securities:
Common stock - domestic	951		—		—		951		188		—		—		188
Common stock - foreign	394		57		—		451		80		—		—		80
Total equity securities	1,345		57		—		1,402		268		—		—		268
Other investments	34		24		745		803		—		—		—		—
Short-term investments	189		276		—		465		14		433		—		447
Money market securities	29		56		—		85		—		—		—		—
Derivative assets	11		7		73		91		—		1		—		1
Total assets	$	3,213	$	4,867	$	923	$	9,003	$	493	$	940	$	3	$	1,436

______________

(1) Other primarily includes mortgage-backed securities, collateralized mortgage obligations and ABS.

The table below summarizes the actual weighted average allocation of the estimated fair value of total plan assets by asset class at December 31 for the years indicated and the approved target allocation by major asset class at December 31, 2015 for the Invested Plans:

	December 31,
	2015								2014
	U.S. Pension Benefits				U.S. Other Postretirement Benefits				U.S. Pension Benefits		U.S. Other Postretirement Benefits
	Target		Actual Allocation		Target		Actual Allocation		Actual Allocation		Actual Allocation
Asset Class
Fixed maturity securities	80	%	71	%	76	%	73	%	69	%	71	%
Equity securities	10	%	14	%	24	%	25	%	15	%	27	%
Alternative securities (1)	10	%	15	%	—	%	2	%	16	%	2	%
Total assets			100	%			100	%	100	%	100	%

______________

(1) Alternative securities primarily include derivative assets, money market securities, short-term investments and other investments. U.S. other postretirement benefits do not include postretirement life’s target and actual allocation of plan assets that are all in short-term investments.

Rollforward fair value measurement using significant unobservable outputs (level 3)

A rollforward of all pension and other postretirement benefit plan assets measured at estimated fair value on a recurring basis using significant unobservable (Level 3) inputs was as follows:

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Pension Benefits
	Fixed Maturity Securities:									Equity Securities:
	Corporate			Foreign Bonds			Other (1)			Common Stock - Domestic			Other Investments			Derivative Assets
	(In millions)
Balance, January 1, 2014	$	59		$	11		$	19		$	148		$	602		$	37
Realized gains (losses)	3			—			—			—			(13		)	(16		)
Unrealized gains (losses)	—			—			—			—			112			18
Purchases, sales, issuances and settlements, net	11			6			(2		)	—			(104		)	34
Transfers into and/or out of Level 3	7			—			(9		)	(148		)	148			—
Balance, December 31, 2014	$	80		$	17		$	8		$	—		$	745		$	73
Realized gains (losses)	1			—			—			—			—			(11		)
Unrealized gains (losses)	(4		)	(1		)	2			—			55			(9		)
Purchases, sales, issuances and settlements, net	8			2			(1		)	—			(77		)	23
Transfers into and/or out of Level 3	(7		)	(1		)	(2		)	—			—			—
Balance, December 31, 2015	$	78		$	17		$	7		$	—		$	723		$	76

______________

(1) Other includes ABS and collateralized mortgage obligations.

Defined benefit plan estimated future benefit payments

Gross benefit payments for the next 10 years, which reflect expected future service where appropriate, are expected to be as follows:

	Pension Benefits		Other Postretirement Benefits
	(In millions)
2016	$	545	$	86
2017	$	570	$	87
2018	$	582	$	90
2019	$	606	$	92
2020	$	627	$	95
2021-2025	$	3,463	$	508