POSTRETIREMENT BENEFIT PLANS

3 Months Ended

Mar. 31, 2020

NOTE 13. POSTRETIREMENT BENEFIT PLANS

We sponsor a number of pension and retiree health and life insurance benefit plans that we present in three categories, principal pension plans, other pension plans and principal retiree benefit plans. Principal pension plans represent the GE Pension Plan and the GE Supplementary Pension Plan. Other pension plans include U.S. and non-U.S. pension plans with pension assets or obligations greater than $50 million. Principal retiree benefit plans provide health and life insurance benefits to certain eligible participants and these participants share in the cost of the healthcare benefits. Smaller pension plans with pension assets or obligations less than $50 million and other retiree benefit plans are not presented.

EFFECT ON OPERATIONS OF BENEFIT PLANS. The components of benefit plans costs other than the service cost are included in the caption Non-operating benefit costs in our consolidated Statement of Earnings (Loss).



	Principal pension plans							Other pension plans
	Three months ended March 31							Three months ended March 31
(In millions)	2020			2019				2020			2019

Service cost for benefits earned	$	153		$	158			$	65		$	63
Prior service cost amortization	37			33				—			—
Expected return on plan assets	(748		)	(863		)		(274		)	(284		)
Interest cost on benefit obligations	587			726				108			139
Net actuarial loss amortization	848			763				112			80
Curtailment/settlement loss (gain)	—			51			(a)	(1		)	9
Benefit plans cost	$	877		$	868			$	10		$	7

(a) Curtailment loss in the three months ended March 31, 2019, resulted from the spin-off and subsequent merger of our Transportation segment with Wabtec, which is included in Earnings (loss) from discontinued operations in our consolidated Statement of Earnings (Loss).

Principal retiree benefit plans income was $32 million and $61 million for the three months ended March 31, 2020 and 2019, respectively, which includes a curtailment gain of $33 million in 2019 resulting from the Transportation transaction, which is included in Earnings (loss) from discontinued operations in our consolidated Statement of Earnings (Loss).

We also have a defined contribution plan for eligible U.S. employees that provides discretionary contributions. Defined contribution plan costs were $95 million and $101 million for the three months ended March 31, 2020 and 2019, respectively.