Company: HIG-PG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000874766-25-000023
Chunk: 1557

Company: HARTFORD INSURANCE GROUP, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 2
Chunk 1557
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 Expected return on plan assets(230)(235)(202)(1)(1)(2)Amortization of prior service credit— — — (7)(7)(7)Amortization of actuarial loss34 29 62 5 5 7 Net periodic cost (benefit)$(18)$(23)$(25)$4 $4 $2 Amounts Recognized in Other Comprehensive Income (Loss) Pension BenefitsOther Postretirement BenefitsFor the years ended December 31, 202420232022202420232022Amortization of actuarial loss$34 $29 $62 $5 $5 $7 Amortization of prior service credit— — — (7)(7)(7)Net actuarial gain (loss)(41)(142)89 7 (6)30 Prior service cost (credit)— — — — — — Total$(7)$(113)$151 $5 $(8)$30 Amounts in Accumulated Other Comprehensive Income (Loss), Before Tax, not yet Recognized as Components of Net Periodic Benefit Cost Pension BenefitsOther Postretirement BenefitsAs of December 31, 202420232022202420232022Net loss$(1,784)$(1,777)$(1,664)$(76)$(88)$(87)Prior service credit— — — 33 40 47 Total$(1,784)$(1,777)$(1,664)$(43)$(48)$(40)Actuarial net losses in AOCI that exceed 10% of the greater of the benefit obligation or the market-related value of plan assets are amortized to expense over the average future life expectancy of plan participants.Pension Plan AssetsInvestment Strategy and Target AllocationThe overall investment strategy of the U.S. Pension Plan is to produce total investment returns that provide sufficient funding for present and anticipated future benefit obligations within the constraints of a prudent level of portfolio risk and diversification. With respect to asset management, the oversight responsibility of the U.S. Pension Plan rests with The Hartford’s Pension Investment Committee composed of individuals whose responsibilities include establishing overall objectives and the setting of investment policy; selecting appropriate investment options and ranges; selecting qualified service providers such as investment managers and investment consultants; reviewing the asset allocation mix and asset allocation targets on a regular basis; and monitoring performance to determine whether or not