Pension Plans, Retirement Benefits and Savings Plans

9 Months Ended

Sep. 30, 2025

Pension Plans, Retirement Benefits and Savings Plans

PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS

The following table summarizes the components of net periodic benefit cost (benefit) for the Company’s pension and postretirement benefit plans recognized in the consolidated statement of income for the three months ended September 30, 2025 and 2024.


	Pension Plans				Postretirement Benefit Plans
(for the three months ended September 30, in millions)	2025		2024		2025		2024
Net Periodic Benefit Cost (Benefit):
Service cost	$	28	$	29	$	—	$	—
Non-service cost (benefit):
Interest cost on benefit obligation	44		43		1		1
Expected return on plan assets	(71)		(74)		—		—

Amortization of unrecognized:
Prior service benefit	—		—		—		—
Net actuarial (gain) loss	4		2		(3)		(3)
Total non-service cost (benefit)	(23)		(29)		(2)		(2)
Net periodic benefit cost (benefit)	$	5	$	—	$	(2)	$	(2)

The following table indicates the line items in which the respective service cost and non-service cost (benefit) are presented in the consolidated statement of income for the three months ended September 30, 2025 and 2024.


	Pension Plans				Postretirement Benefit Plans
(for the three months ended September 30, in millions)	2025		2024		2025		2024
Service Cost:
Claims and claim adjustment expenses	$	11	$	11	$	—	$	—
General and administrative expenses	17		18		—		—
Total service cost	28		29		—		—
Non-Service Cost (Benefit):
Claims and claim adjustment expenses	(9)		(11)		(1)		—
General and administrative expenses	(14)		(18)		(1)		(2)
Total non-service cost (benefit)	(23)		(29)		(2)		(2)
Net periodic benefit cost (benefit)	$	5	$	—	$	(2)	$	(2)


	Pension Plans				Postretirement Benefit Plans
(for the nine months ended September 30, in millions)	2025		2024		2025		2024
Net Periodic Benefit Cost (Benefit):
Service cost	$	85	$	87	$	—	$	—
Non-service cost (benefit):
Interest cost on benefit obligation	132		129		2		3
Expected return on plan assets	(211)		(223)		—		—

Amortization of unrecognized:
Prior service benefit	—		—		(1)		(2)
Net actuarial (gain) loss	11		5		(9)		(7)
Total non-service cost (benefit)	(68)		(89)		(8)		(6)
Net periodic benefit cost (benefit)	$	17	$	(2)	$	(8)	$	(6)

The following table indicates the line items in which the respective service cost and non-service cost (benefit) are presented in the consolidated statement of income for the nine months ended September 30, 2025 and 2024.


	Pension Plans				Postretirement Benefit Plans
(for the nine months ended September 30, in millions)	2025		2024		2025		2024
Service Cost:
Claims and claim adjustment expenses	$	33	$	34	$	—	$	—
General and administrative expenses	52		53		—		—
Total service cost	85		87		—		—
Non-Service Cost (Benefit):
Claims and claim adjustment expenses	(26)		(34)		(3)		(2)
General and administrative expenses	(42)		(55)		(5)		(4)
Total non-service cost (benefit)	(68)		(89)		(8)		(6)
Net periodic benefit cost (benefit)	$	17	$	(2)	$	(8)	$	(6)

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section S99
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
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-Publisher FASB
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-Topic 715
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/715/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

TRAVELERS COMPANIES, INC. 10-Q