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EMPLOYEE BENEFITS
 3 Months Ended
Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE BENEFITS
EMPLOYEE BENEFITS
The Company maintains a non-contributory pension plan (the “Plan” or “qualified plan”) that was closed to new hires and re-hires effective January 1, 2009, and frozen to all participants effective December 31, 2012. Benefits under the Plan are based on employees’ years of service and highest five-year average of eligible compensation. The Plan is funded on a current basis, in compliance with the requirements of ERISA. The Company also provides an unfunded, non-qualified supplemental retirement plan (the “non-qualified plan”), which was closed and frozen effective December 12, 2012.
The following table presents the components of net periodic (income) cost for the Company’s qualified and non-qualified plans:
 
Three Months Ended March 31,
 
Qualified Plan
 
Non-Qualified Plan
 
Total
(in millions)
2016

 
2015

 
2016

 
2015

 
2016

 
2015

Service cost

$1

 

$1

 

$—

 

$—

 

$1

 

$1

Interest cost
11

 
11

 
1

 
1

 
12

 
12

Expected return on plan assets
(17
)
 
(18
)
 
—

 
—

 
(17
)
 
(18
)
Amortization of actuarial loss
4

 
3

 
—

 
1

 
4

 
4

Net periodic pension (income) cost

($1
)
 

($3
)
 

$1

 

$2

 

$—

 

($1
)