Rendering

Component: (Network and Table)
Network
2312301 - Disclosure - Employee Benefit Plans (Tables)
(http://www.cmegroup.com/role/EmployeeBenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001156375 (http://www.sec.gov/CIK)
General Discussion of Pension and Other Postretirement Benefits [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
General Discussion of Pension and Other Postretirement Benefits [Abstract]
 
Summary of the change in projected benefit obligation
The following is a summary of the change in projected benefit obligation:
(in millions)
 
2016
 
2015
Balance at January 1
 
$
217.3

 
$
223.7

Service cost
 
16.7

 
18.4

Interest cost
 
10.3

 
9.8

Actuarial (gain) loss
 
5.3

 
(11.6
)
Benefits paid
 
(9.7
)
 
(23.0
)
Balance at December 31
 
$
239.9

 
$
217.3

  
Change in plan assets
The following is a summary of the change in fair value of plan assets:
(in millions)
 
2016
 
2015
 
2014
Balance at January 1
 
$
217.5

 
$
225.1

 
$
193.6

Actual return on plan assets
 
16.0

 
(7.2
)
 
14.3

Employer contributions
 
15.0

 
22.6

 
26.0

Benefits paid
 
(9.7
)
 
(23.0
)
 
(8.8
)
Balance at December 31
 
$
238.8

 
$
217.5

 
$
225.1

  
Fair value of plan assets
The fair value of each major category of plan assets as of December 31 is indicated below.
(in millions)
 
2016
 
2015
Level 2:
 
 
 
 
Money market funds
 
$
31.5

 
$
26.5

Mutual funds:
 
 
 
 
Fixed income
 
68.6

 
61.6

Foreign equity
 
64.5

 
60.0

U.S. equity
 
63.9

 
59.9

Commodity
 
10.3

 
9.5

Total
 
$
238.8

 
$
217.5

  
Components of net pension expenses and the assumptions used to determine the end-of-year projected benefit obligation and net pension expense in aggregate
The components of net pension expense and the assumptions used to determine the end-of-year projected benefit obligation and net pension expense in aggregate are indicated below:
(in millions)
 
2016
 
2015
 
2014
Components of Net Pension Expense:
 
 
 
 
 
 
Service cost
 
$
16.7

 
$
18.4

 
$
17.1

Interest cost
 
10.3

 
9.8

 
9.6

Expected return on plan assets
 
(15.7
)
 
(16.3
)
 
(14.0
)
Recognized net actuarial loss
 
3.2

 
2.7

 
0.6

Net Pension Expense
 
$
14.5

 
$
14.6

 
$
13.3

Assumptions Used to Determine End-of-Year Benefit Obligation:
 
 
 
 
 
 
Discount rate
 
4.30
%
 
4.60
%
 
4.20
%
Rate of compensation increase
 
5.00

 
5.00

 
5.00

Cash balance interest crediting rate
 
4.00

 
4.00

 
4.00

Assumptions Used to Determine Net Pension Expense:
 
 
 
 
 
 
Discount rate
 
4.60
%
 
4.20
%
 
5.10
%
Rate of compensation increase
 
5.00

 
5.00

 
5.00

Expected return on plan assets
 
7.50

 
7.50

 
7.50

Interest crediting rate
 
4.00

 
4.00

 
4.00

  
Asset allocation for the plan
The asset allocation for the plan, by asset category, at December 31 was as follows:
 
2016
 
2015
Fixed income
28.8
%
 
28.3
%
Foreign equity
27.0

 
27.6

U.S. equity
26.7

 
27.5

Money market funds
13.2

 
12.2

Commodity
4.3

 
4.4


The range of target allocation percentages for 2017 is as follows:
 
Minimum
 
Maximum
Fixed income
33.0
%
 
45.0
%
U.S. equity
23.5

 
35.0

Foreign equity
23.5

 
35.0

Commodity
2.0

 
8.0

  
Prior service costs and actuarial losses included in accumulated other comprehensive income (loss)
The pre-tax balance and activity of the prior service costs and actuarial losses for the pension plan, which are included in other comprehensive income (loss), for 2016 are as follows:
(in millions)
 
Prior
Service
Costs
 
Actuarial
Loss
Balance at January 1
 
$
0.1

 
$
60.8

Unrecognized net loss
 
—

 
5.1

Recognized as a component of net pension expense
 
(0.1
)
 
(3.1
)
Balance at December 31
 
$
—

 
$
62.8

  
Anticipated benefit payments from the plan in future years
At December 31, 2016, anticipated benefit payments from the plan in future years are as follows:
(in millions)
 
 
2017
 
$
12.5

2018
 
14.0

2019
 
15.1

2020
 
16.0

2021
 
17.6

2022-2026
 
109.0