Notes to Consolidated Financial Statements – (continued) (Amounts in Millions, Except Per Share Amounts) The estimated future benefit payments expected to be paid are presented below.
## Table 0 ##
The estimated future payments for our domestic postretirement benefit plan are net of any estimated U. S.  federal subsidies expected to be received under the Medicare Prescription Drug, Improvement and Modernization Act of 2003, which total no more than $0.3 in any individual year.
Savings Plans We sponsor defined contribution plans (the “Savings Plans”) that cover substantially all domestic employees.
The Savings Plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives.
We match a portion of participant contributions based upon their years of service.
Amounts expensed for the Savings Plans for 2018, 2017 and 2016 were $52.6, $47.2 and $47.0, respectively.
Expenses include a discretionary Company contribution of $6.7, $3.6 and $6.1 offset by participant forfeitures of $5.8, $4.6 and $4.4 in 2018, 2017 and 2016, respectively.
In addition, we maintain defined contribution plans in various foreign countries and contributed $51.3, $47.4 and $44.5 to these plans in 2018, 2017 and 2016, respectively.
Deferred Compensation and Benefit Arrangements We have deferred compensation and benefit arrangements which (i) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation or (ii) require us to contribute an amount to the participant’s account.
These arrangements may provide participants with the amounts deferred plus interest upon attaining certain conditions, such as completing a certain number of years of service, attaining a certain age or upon retirement or termination.
As of December 31, 2018 and 2017, the deferred compensation and deferred benefit liability balance was $196.2 and $213.2, respectively.
Amounts expensed for deferred compensation and benefit arrangements in 2018, 2017 and 2016 were $10.0, $18.5 and $18.5, respectively.
We have purchased life insurance policies on participants’ lives to assist in the funding of the related deferred compensation and deferred benefit liabilities.
As of December 31, 2018 and 2017, the cash surrender value of these policies was $177.3 and $177.4, respectively.
Long-Term Disability Plan We have a long-term disability plan which provides income replacement benefits to eligible participants who are unable to perform their job duties or any job related to his or her education, training or experience.
As all income replacement benefits are fully insured, no related obligation is required as of December 31, 2018 and 2017.
In addition to income replacement benefits, plan participants may remain covered for certain health and life insurance benefits up to normal retirement age, and accordingly, we have recorded an obligation of $5.9 and $8.4 as of December 31, 2018 and 2017, respectively.
preferred equity securities issued by government-sponsored agencies and certain financial institutions, and shorter-term U. S.  Treasury notes.
When purchasing investment securities, the Company considers its overall interest-rate risk profile as well as the adequacy of expected returns relative to risks assumed, including prepayments.
In managing its investment securities portfolio, the Company occasionally sells investment securities as a result of changes in interest rates and spreads, actual or anticipated prepayments, or credit risk associated with a particular security, or as a result of restructuring its investment securities portfolio following completion of a business combination.
The Company regularly reviews its investment securities for declines in value below amortized cost that might be other than temporary.
As of December 31, 2005 and 2004, the Company concluded that such declines were temporary in nature.
As previously discussed, events occurring during 2005’s third quarter resulted in the Company recognizing an other-than-temporary impairment charge of $29 million related to preferred securities of FNMA and FHLMC.
Additional information about the investment securities portfolio is included in note 3 of Notes to Financial Statements.
Money-market assets are comprised of interest-earning deposits at banks, interest-earning trading account assets, federal funds sold and agreements to resell securities.
Average money-market assets were $113 million in 2005, $74 million in 2004 and $216 million in 2003.
The amounts of investment securities and money-market assets held by the Company are influenced by such factors as demand for loans, which generally yield more than investment securities and money-market assets, ongoing repayments, the level of deposits, and management of balance sheet size and resulting capital ratios.
Core deposits represent the most significant source of funding for the Company and are comprised of noninterest-bearing deposits, interest-bearing transaction accounts, nonbrokered savings deposits and nonbrokered domestic time deposits under $100,000.
The Company’s branch network is its principal source of core deposits, which generally carry lower interest rates than wholesale funds of comparable maturities.
Also included in core deposits are certificates of deposit under $100,000 generated on a nationwide basis by M&T Bank, N. A.
Core deposits averaged $27.9 billion in 2005, $28.1 billion in 2004 and $25.8 billion in 2003.
Core deposits assumed in connection with the Allfirst acquisition totaled approximately $10.7 billion on April 1, 2003.
The rise in average balances of time deposits less than $100,000 in 2005 as compared with 2004 was due, in part, to higher interest rates, as customers shifted their funds from savings and non-interest bearing deposit accounts to time deposits.
Due to the historically low interest rate environment in 2003 and for much of 2004, the Company experienced a significant shift in the composition of core deposits in those years.
Reflecting a change in customer saving trends, average core savings and noninterest-bearing deposits rose during those periods, while average time deposits under $100,000 decreased, exclusive of the impact of core deposits obtained in the Allfirst acquisition.
Average core deposits of M&T Bank, N. A.  were $216 million in 2005, $223 million in 2004 and $267 million in 2003.
Funding provided by core deposits represented 58% of average earning assets in 2005, compared with 62% in 2004 and 65% in 2003.
Table 8 summarizes average core deposits in 2005 and percentage changes in the components of such deposits over the past two years.
Table 8 AVERAGE CORE DEPOSITS
## Table 1 ##
In the workers’ compensation insurance class, the majority of which was written in California, the Company has experienced adverse development primarily for accident year 2002 due to higher than expected claim frequency and severity.
As a result of significant growth in this book of business in a challenging business environment, the Company’s writings in this class were subject to more relative variability than in some of its established and/or stable lines of business.
Although cumulative results through 2014 continue to be profitable for this book of business, there was some deterioration in claim frequency and severity related to older accident years.
The adverse development on the 2008 outstanding reserves was primarily attributable to foreign exchange rate movements resulting in an increase in the U. S.  dollar reserves.
In addition, the Company experienced adverse development on liability exposures for sub-prime for accident years 2006-2008 and contractors’ liability exposures for accident years 2004-2005.
The contractor liability exposures are currently in run-off.
The Company also experienced adverse development on property lines but was offset by favorable development on other casualty lines.
The Company’s loss and LAE reserves represent management’s best estimate of the ultimate liability.
While there can be no assurance that these reserves will not need to be increased in the future, management believes that the Company’s existing reserves and reserving methodologies reduce the likelihood that any such increases would have a material adverse effect on the Company’s financial condition, results of operations or cash flows.
These statements regarding the Company’s loss reserves are forward looking statements within the meaning of the U. S.  federal securities laws and are intended to be covered by the safe harbor provisions contained therein.
See ITEM 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Safe Harbor Disclosure”.
The following table is derived from the Ten Year GAAP Loss Development Table above and summarizes the effect of reserve re-estimates, net of reinsurance, on calendar year operations by accident year for the same ten year period ended December 31, 2014.
Each column represents the amount of net reserve re-estimates made in the indicated calendar year and shows the accident years to which the re-estimates are applicable.
The amounts in the total accident year column on the far right represent the cumulative reserve re-estimates for the indicated accident years.
Since the Company has operations in many countries, part of the Company’s loss and LAE reserves are in foreign currencies and translated to U. S.  dollars for each reporting period.
Fluctuations in the exchange rates for the currencies, period over period, affect the U. S.  dollar amount of outstanding reserves.
The translation adjustment line at the bottom of the table eliminates the impact of the exchange fluctuations from the reserve re-estimates.
## Table 2 ##

<table><tr><td>Years</td><td>DomesticPension Plan</td><td>ForeignPension Plans</td><td>Domestic PostretirementBenefit Plan</td></tr><tr><td>2019</td><td>$14.5</td><td>$21.7</td><td>$3.0</td></tr><tr><td>2020</td><td>8.8</td><td>18.7</td><td>2.8</td></tr><tr><td>2021</td><td>8.0</td><td>19.8</td><td>2.6</td></tr><tr><td>2022</td><td>8.3</td><td>20.9</td><td>2.4</td></tr><tr><td>2023</td><td>7.8</td><td>21.8</td><td>2.2</td></tr><tr><td>2024 - 2028</td><td>36.7</td><td>117.2</td><td>9.8</td></tr></table>
<table><tr><td></td><td></td><td colspan="2">Percentage Increase (Decrease) from</td></tr><tr><td></td><td> 2005  (Dollars in  millions)</td><td>2004 to 2005</td><td>2003 to 2004</td></tr><tr><td>NOW accounts</td><td>$400</td><td>-27%</td><td>-46%</td></tr><tr><td>Savings deposits</td><td>14,827</td><td>-3</td><td>15</td></tr><tr><td>Time deposits under $100,000</td><td>4,624</td><td>8</td><td>-10</td></tr><tr><td>Noninterest-bearing deposits</td><td>8,050</td><td>—</td><td>18</td></tr><tr><td>Total</td><td>$27,901</td><td>-1%</td><td>9%</td></tr></table>
<table><tr><td></td><td colspan="12">Effects on Pre-tax Income Resulting from Reserves Re-estimates</td></tr><tr><td colspan="2">(Dollars in millions)</td><td>2005</td><td>2006</td><td>2007</td><td>2008</td><td>2009</td><td>2010</td><td>2011</td><td>2012</td><td>2013</td><td>2014</td><td>Cumulative Re-estimates for Each Accident Year</td></tr><tr><td colspan="2">Accident Years</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">2004 and prior</td><td>$133.3</td><td>$-106.8</td><td>$-319.4</td><td>$63.2</td><td>$-165.6</td><td>$-84.1</td><td>$-10.6</td><td>$-15.4</td><td>$-51.6</td><td>$-143.1</td><td>$-700.0</td></tr><tr><td colspan="2">2005</td><td></td><td>-137.6</td><td>130.1</td><td>56.3</td><td>-28.6</td><td>38.2</td><td>-12.1</td><td>17.4</td><td>-27.8</td><td>-4.2</td><td>31.6</td></tr><tr><td colspan="2">2006</td><td></td><td></td><td>-88.4</td><td>50.9</td><td>-18.3</td><td>42.8</td><td>-3.0</td><td>25.7</td><td>11.9</td><td>-7.0</td><td>14.5</td></tr><tr><td colspan="2">2007</td><td></td><td></td><td></td><td>41.5</td><td>17.6</td><td>43.6</td><td>-5.7</td><td>-1.8</td><td>22.3</td><td>4.2</td><td>121.8</td></tr><tr><td colspan="2">2008</td><td></td><td></td><td></td><td></td><td>-52.5</td><td>38.6</td><td>-12.4</td><td>-7.7</td><td>37.0</td><td>12.9</td><td>15.9</td></tr><tr><td colspan="2">2009</td><td></td><td></td><td></td><td></td><td></td><td>7.4</td><td>-0.8</td><td>-18.5</td><td>34.4</td><td>31.9</td><td>54.5</td></tr><tr><td colspan="2">2010</td><td></td><td></td><td></td><td></td><td></td><td></td><td>47.1</td><td>-8.9</td><td>-32.1</td><td>84.8</td><td>90.9</td></tr><tr><td colspan="2">2011</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>-10.2</td><td>19.6</td><td>-4.9</td><td>4.4</td></tr><tr><td colspan="2">2012</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>26.9</td><td>188.2</td><td>215.0</td></tr><tr><td colspan="2">2013</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>12.7</td><td>12.7</td></tr><tr><td colspan="2">Total calendar year effect</td><td>$133.3</td><td>$-244.4</td><td>$-277.8</td><td>$211.8</td><td>$-247.2</td><td>$86.5</td><td>$2.5</td><td>$-19.4</td><td>$40.5</td><td>$175.4</td><td></td></tr><tr><td colspan="2">Canada-1</td><td>-6.6</td><td>-0.5</td><td>-49.6</td><td>63.7</td><td>-39.4</td><td>-21.2</td><td>9.7</td><td>-9.9</td><td>26.4</td><td>25.1</td><td></td></tr><tr><td colspan="2">Translation adjustment</td><td>-100.3</td><td>109.3</td><td>120.9</td><td>-310.4</td><td>157.8</td><td>-34.5</td><td>-15.9</td><td>32.9</td><td>-48.6</td><td>-160.7</td><td></td></tr><tr><td colspan="2">Re-estimate of net reserve after translation adjustment</td><td>$26.4</td><td>$-135.6</td><td>$-206.5</td><td>$-34.9</td><td>$-128.8</td><td>$30.9</td><td>$-3.7</td><td>$3.7</td><td>$18.2</td><td>$39.9</td><td></td></tr><tr><td>-1</td><td>This adjustment converts Canadian dollars to U.S. dollars.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td colspan="2">(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>

Question: what is the percentage decrease between the amounts expensed for deferred compensation and deferred benefit liability in 2017 and 2018?
Answer: 7.97373