Company: L
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000060086-25-000036
Chunk: 174

Company: LOEWS CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 3
Chunk 174
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31202420232022202420232022       Discount rate5.4 %5.0 %5.2 %5.5 %5.1 %5.4 %Interest crediting rate4.3 %4.5 %3.4 %  Rate of compensation increase0.0% to 4.5%0.0% to 3.5%0.0% to 4.5%   Weighted average assumptions used to determine net periodic benefit cost:Pension BenefitsOther Postretirement BenefitsYear Ended December 31202420232022202420232022       Discount rate5.0 %5.2 %3.4 %5.1 %5.4 %2.6 %Expected long-term rate of return on plan assets6.1 %6.2 %6.3 %3.3 %3.0 %2.0 %Interest crediting rate4.5 %3.5 %3.0 %   Rate of compensation increase0.0% to 3.5%0.0% to 3.8%0.0% to 3.0%   In determining the discount rate assumption, current market and liability information is utilized, including a discounted cash flow analysis of the pension and postretirement obligations. In particular, the basis for the discount rate selection was the yield on indices of highly rated fixed income debt securities with durations comparable to that of plan liabilities. The yield curve was applied to expected future retirement plan payments to adjust the discount rate to reflect the cash flow characteristics of the plans. The yield curves and indices evaluated in the selection of the discount rate are comprised of high quality corporate bonds that are rated AA by an accepted rating agency.The expected long-term rate of return for plan assets is determined based on widely-accepted capital market principles, long-term return analysis for global fixed income and equity markets as well as the active total return oriented portfolio management style. Long-term trends are evaluated relative to market factors such as inflation, interest rates and fiscal and monetary policies, in order to assess the capital market assumptions as applied to the plan. Consideration of diversification needs and rebalancing is maintained.Assumed health care cost trend rates:December 31202420232022    Health care cost trend rate assumed for next year4.0% to 8.0%4.0% to