Pension and Other Postretirement Employee Benefit Plans

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Pension and Other Postretirement Employee Benefit Plans

Pension and other postretirement employee benefit plansRefer to Note 8 of JPMorgan Chase’s 2020 Form 10-K for a discussion of JPMorgan Chase’s pension and OPEB plans.

The following table presents the components of net periodic benefit costs reported in the Consolidated statements of income for the Firm’s defined benefit pension, defined contribution and OPEB plans.

(in millions)	Three months ended June 30,				Six months ended June 30,
	2021		2020		2021		2020
	Pension and OPEB plans				Pension and OPEB plans
Components of net periodic benefit cost, U.S. defined benefit pension plans
Benefits earned during the period	$	1	$	1	$	1	$	1
Interest cost on benefit obligations	86		106		171		211
Expected return on plan assets	(129)		(159)		(258)		(317)
Amortization:
Net (gain)/loss	2		1		5		3
Net periodic defined benefit plan cost/(credit), U.S. defined benefit pension plans	(40)		(51)		(81)		(102)
Other defined benefit pension and OPEB plans	(20)		(21)		(38)		(42)
Total net periodic defined benefit plan cost/(credit)	(60)		(72)		(119)		(144)
Total defined contribution plans	350		321		671		620
Total pension and OPEB cost included in noninterest expense	$	290	$	249	$	552	$	476

The following table presents the fair values of plan assets for the Firm's defined benefit pension and OPEB plans.

(in billions)	June 30, 2021		December 31, 2020
Fair value of plan assets
U.S. defined benefit pension plans	$	17.6	$	17.6
Other defined benefit pension and OPEB plans	7.9		7.8