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Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Cost
The total cost of these retirement plans charged to operations was as follows:
Year Ended December 31,
202420232022
Plan Type:
Defined Contribution Plans(1)
$6,605 $6,390 $5,824 
Defined Benefit Pension Plans(2)
16,458 15,225 37,040 
(1)401K plans.
(2)Qualified pension plans and SERP.
Schedule of Pension Assets by Component at Fair Value
The following table presents the assets of the Company's Pension Plans at December 31, 2024 and 2023:
Pension Assets by Component at December 31, 2024

 Fair Value Determined by:  
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Total
Amount
% of
Total
Exchange traded fund(4)
$35,483 $— $— $35,483 6 
Equity exchange traded fund(1)
322,846 — — 322,846 53 
U.S. Government and Agency— 179,418 — 179,418 29 
Other bonds— 4 — 4 — 
Guaranteed annuity contract(2)
— 43,893 — 43,893 7 
Short-term investments1,235 — — 1,235 — 
Other1,420 — — 1,420 — 
$360,984 $223,315 $— 584,299 95 
Other long-term investments(3)
30,546 5 
Total pension assets
$614,845 100 
(1)A fund including marketable securities that mirror the S&P 500 index.
(2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Collective Bargaining Agreement Employees Pension Plan.
(3)Includes non-redeemable investment funds that report the Globe Life Inc. Pension Plan's pro-rata share of the limited partnership's net asset value (NAV) per share, or its equivalent, as a practical expedient for fair value. As of December 31, 2024, the Globe Life Inc. Pension Plan owned less than 1% of two long-term investment funds.
(4)A fund including U.S. dollar-denominated investment-grade securities issued by industrial, utility, and financial companies with maturities greater than 10 years.
Pension Assets by Component at December 31, 2023
 Fair Value Determined by:  

Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Total
Amount
% of
Total
Exchange traded fund(4)
$18,715 $— $— $18,715 3 
Equity exchange traded fund(1)
315,886 — — 315,886 55 
U.S. Government and Agency— 167,450 — 167,450 30 
Other bonds— 5 — 5 — 
Guaranteed annuity contract(2)
— 43,428 — 43,428 8 
Short-term investments6,506 — — 6,506 1 
Other463 — — 463 — 
$341,570 $210,883 $— 552,453 97 
Other long-term investments(3)
18,314 3 
Total pension assets
$570,767 100 
(1)A fund including marketable securities that mirror the S&P 500 index.
(2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Collective Bargaining Agreement Employees Pension Plan.
(3)Includes non-redeemable investment funds that report the Globe Life Inc. Pension Plan's pro-rata share of the limited partnership's net asset value (NAV) per share, or its equivalent, as a practical expedient for fair value. As of December 31, 2023, the Globe Life Inc. Pension Plan owned less than 1% of two long-term investment funds.
(4)A fund including U.S. dollar-denominated investment-grade securities issued by industrial, utility, and financial companies with maturities greater than 10 years.
Schedule of Investment Funds
The following table presents additional information about the Company's investment funds as of December 31, 2024 and December 31, 2023 at fair value:
Fair Value
Unfunded Commitments(2)
Investment Category202420232024
Redemption Term/Notice(1)
Commercial mortgage loans$566,142 $411,315 $189,725 Fully redeemable and non-redeemable with varying terms.
Opportunistic and private credit
202,008 181,410 191,192 Fully redeemable and non-redeemable with varying terms.
Infrastructure179,627 165,887 — Fully redeemable and non-redeemable with varying terms.
Other38,989 36,971 52,479 Non-redeemable with varying terms
Total investment funds $986,766 $795,583 $433,396 
(1) Non-redeemable funds generally have an expected life of 7 to 12 years from fund closing with extension options of 1 to 4 years. Redemptions are paid out throughout the life of the funds at the General Partner's discretion. Redeemable funds can generally be redeemed over 6 to 36 months upon request from limited partners.
(2) Unfunded commitments include unfunded balances during the investment period. After an investment period ends, the fund can call capital based on limited and specified reasons. As of December 31, 2024, unfunded commitments totaled $645 million, including funds past the investment period.
The following table presents additional information about the Company's investment funds included in pension plan assets as of December 31, 2024 and December 31, 2023 at fair value:
Fair Value
Unfunded Commitments(2)
Investment Category202420232024
Redemption Term/Notice(1)
Multi-asset class$12,383 $14,714 $— Non-redeemable
Private equity18,163 3,600 48,167 Non-redeemable
Total
$30,546 $18,314 $48,167 
(1) Non-redeemable funds generally have an expected life of 7 to 10 years from fund closing with extension options of 2 to 4 years. Redemptions are paid out throughout the life of the funds at the General Partner's discretion.
(2) Unfunded commitments include unfunded balances during the investment period. After an investment period ends, the fund can call capital based on limited and specified reasons. As of December 31, 2024, unfunded commitments totaled $57.5 million, including funds past the investment period.
Schedule of Information Regarding the SERP The following tables include premiums paid for COLI for the three years ended December 31, 2024 and investments of the Rabbi Trust for the two years ended December 31, 2024:
Year Ended December 31,
202420232022
Premiums paid for insurance coverage$443 $443 $443 
At December 31,
20242023
Total investments:
COLI$57,210 $55,185 
Exchange traded funds98,314 86,156 
$155,524 $141,341 
Schedule of Pension Liability The following table presents the projected benefit obligation (PBO) and accumulated benefit obligation (ABO) for the Pension Plans and SERP at December 31, 2024 and 2023:
December 31,
20242023
PBOABOPBOABO
Pension plans$561,615 $500,010 $554,957 $493,040 
SERP73,441 68,428 72,603 69,332 
Benefit obligation
$635,056 $568,438 $627,560 $562,372 

For the year ended December 31, 2024, the Pension Plans have plan assets with fair values in excess of projected benefit obligations. The projected benefit obligations and the fair value of plan assets were as follows:
At December 31,
20242023
Funded benefit pension plans PBO$561,615 $554,957 
Funded benefit pension plans fair value of plan assets614,845 570,767 
For the year ended December 31, 2024, the funded benefit pension plans have plan assets with fair value in excess of the accumulated benefit obligations. The accumulated benefit obligations and the fair value of plan assets were as follows:
At December 31,
20242023
Funded benefit pension plans ABO$500,010 $493,040 
Funded benefit pension plans fair value of plan assets614,845 570,767 
Weighted Average Pension Plan Assumptions
The following table discloses the assumptions used to determine Globe Life's pension liabilities and costs for the appropriate periods. The discount and compensation increase rates are used to determine current year projected benefit obligations and subsequent year pension expense. The long-term rate of return is used to determine current year expense. Differences between assumptions and actual experience are included in actuarial gain or loss.

Weighted Average Pension Plan Assumptions
For Benefit Obligations at December 31:20242023
Discount rate5.81 %5.40 %
Rate of compensation increase4.46 4.40 
For Periodic Benefit Cost for the Year:202420232022
Discount rate5.40 %5.71 %3.19 %
Expected long-term returns7.18 6.98 6.98 
Rate of compensation increase4.40 4.40 4.43 
Components of Net Periodic Pension Costs and Post-Retirement Benefit Costs The following table presents the net periodic benefit cost for the defined benefit plans by expense component for the three years ended December 31, 2024 as follows:
Components of Net Periodic Benefit Cost
 Year Ended December 31,
 202420232022
Service cost—benefits earned during the period$24,898 $21,568 $34,624 
Interest cost on projected benefit obligation33,123 31,367 24,445 
Expected return on assets(42,580)(38,625)(35,539)
Amortization of prior service cost (credit)1,071 1,075 1,077 
Recognition of actuarial gain (loss)(54)(160)12,433 
Net periodic benefit cost
$16,458 $15,225 $37,040 
Analysis of Impact on Other Comprehensive Income (Loss)
An analysis of the impact on other comprehensive income (loss) concerning pensions and other postretirement benefits is as follows:
Year Ended December 31,
202420232022
Balance at January 1
$(2,727)$1,570 $(131,239)
Amortization of:
Prior service cost (credit)1,071 1,075 1,077 
Net actuarial (gain) loss(1)
(597)(1,465)12,677 
Total amortization474 (390)13,754 
Plan amendments(1,212)— — 
Experience gain (loss)(2)
29,659 (3,907)119,055 
Balance at December 31
$26,194 $(2,727)$1,570 
(1)Includes amortization of postretirement benefits other than pensions of $(622) thousand in 2024, $(732) thousand in 2023, and $289 thousand in 2022. 
(2)The increase in the experience gain (loss) is related to an increase in discount rate.
Reconciliation of Benefit Obligation and Plan Assets
The following table presents a reconciliation from the beginning to the end of the year of the PBO for the Pension Plans and SERP, and the plan assets for the Pension Plans. This table also presents the amounts previously recognized as a component of accumulated other comprehensive income.

Pension Benefits
Year Ended December 31,
20242023
Changes in PBO:
PBO at beginning of year$627,560 $562,567 
Service cost24,898 21,568 
Interest cost33,123 31,367 
Plan amendments1,212 — 
Actuarial loss (gain)(22,964)40,569 
Benefits paid(28,773)(28,511)
PBO at end of year635,056 627,560 
Changes in plan assets:
Fair value at beginning of year570,767 499,775 
Return on assets48,084 75,062 
Contributions24,767 24,441 
Benefits paid(28,773)(28,511)
Fair value at end of year614,845 570,767 
Funded status at year end
$(20,211)$(56,793)
Schedule of Amounts Recognized as Components Accumulated Other Comprehensive Income
Changes in the PBO related to actuarial losses (gains) are primarily attributed to changes in the discount rate.

Year Ended December 31,
Amounts recognized in accumulated other comprehensive income consist of:20242023
Net loss (gain)$(28,720)$(227)
Prior service cost6,636 6,494 
Net amounts recognized at year end$(22,084)$6,267 
Estimated Future Payments for Post-Retirement Benefit Plans
Globe Life has estimated its expected postretirement benefits to be paid over the next ten years as of December 31, 2024. These estimates use the same assumptions that measure the benefit obligation at December 31, 2024, taking estimated future employee service into account. Those estimated benefits are as follows:
For the year(s): 
2025$31,035 
202633,565 
202736,259 
202839,032 
202941,865 
2030-2034243,598