Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 593

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 593
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 $8 $18 Funded status — end of year$312 $293 $(304)$(323)$8 $(30)$(114)$(120)Amounts Recognized in the Consolidated Balance SheetsOther assets$312 $293 $— $— $312 $293 $— $— Other liabilities$— $— $(304)$(323)$(304)$(323)$(114)$(120)[1]Other postretirement benefits paid represent payments from plan assets for non-key employee postretirement medical benefits, Company assets and plan participants' contributions.[2]As of December 31, 2024 and 2023, the Accumulated Benefit Obligation is equal to the Projected Benefit Obligation.[3]Employer and plan participants' contributions for the Other Postretirement Benefits represent funding from Company and plan participant assets.Changes in assumptions for the U.S. Pension Plan in 2024 primarily included a $145 decrease in the benefit obligation for pension benefits as a result of an increase in the discount rate from 5.15% as of the December 31, 2023 valuation to 5.65% as of the December 31, 2024 valuation. Changes in assumptions in 2023 included an $88 increase in the benefit obligation for pension benefits as a result of a decrease in the discount rate from 5.43% as of the December 31, 2022 valuation to 5.15% as of the December 31, 2023 valuation. Changes in assumptions for the Other Pension Plans in 2024 primarily included a $12 decrease in the benefit obligation for pension benefits as a result of an increase in the discount rate from 5.14% as of the December 31, 2023 valuation to 5.59% as of the December 31, 2024 valuation. Changes in assumptions in 2023 included a $7 increase in the benefit obligation for pension benefits as a result of a decrease in the discount rate from 5.40% as of the December 31, 2022 valuation to 5.14% as of the December 31, 2023 valuation. Included in the benefit obligation for the U.S. Pension Plan in the table above, the cash balance plan pension benefit obligation was $332 and $357 as of December 31, 2024 and 2023, respectively.The fair value of assets for total pension plans,