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EMPLOYEE BENEFITS
 9 Months Ended
Sep. 30, 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. On September 7, 2016, the Company made a contribution of $75 million to the qualified plan. 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:
 
Nine Months Ended September 30,
 
Qualified Plan
 
Non-Qualified Plan
 
Total
(in millions)
2016

 
2015

 
2016

 
2015

 
2016

 
2015

Service cost

$2

 

$2

 

$—

 

$—

 

$2

 

$2

Interest cost
33

 
33

 
3

 
3

 
36

 
36

Expected return on plan assets
(50
)
 
(55
)
 
—

 
—

 
(50
)
 
(55
)
Amortization of actuarial loss
11

 
10

 
1

 
2

 
12

 
12

Net periodic pension (income) cost

($4
)
 

($10
)
 

$4

 

$5

 

$—

 

($5
)