COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS

v2.4.1.9

COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS	COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS We sponsor various retirement and pension plans, including defined benefit and defined contribution plans which cover our employees worldwide. U.S. Pension Benefits In the U.S. we maintain the following single-employer defined benefit pension plans: The UPS Retirement Plan, the UPS Pension Plan, the UPS IBT Pension Plan and the UPS Excess Coordinating Benefit Plan, a non-qualified plan. The UPS Retirement Plan is noncontributory and includes substantially all eligible employees of participating domestic subsidiaries who are not members of a collective bargaining unit, as well as certain employees covered by a collective bargaining agreement. This plan generally provides for retirement benefits based on average compensation levels earned by employees prior to retirement. Benefits payable under this plan are subject to maximum compensation limits and the annual benefit limits for a tax-qualified defined benefit plan as prescribed by the Internal Revenue Service (“IRS”). The UPS Excess Coordinating Benefit Plan is a non-qualified plan that provides benefits to certain participants in the UPS Retirement Plan for amounts that exceed the benefit limits described above. The UPS Pension Plan is noncontributory and includes certain eligible employees of participating domestic subsidiaries and members of collective bargaining units that elect to participate in the plan. This plan generally provides for retirement benefits based on service credits earned by employees prior to retirement. The UPS IBT Pension Plan is noncontributory and includes employees that were previously members of the Central States, Southeast and Southwest Areas Pension Fund (“Central States Pension Fund”), a multiemployer pension plan, in addition to other eligible employees who are covered under certain collective bargaining agreements. This plan generally provides for retirement benefits based on service credits earned by employees prior to retirement. International Pension Benefits We also sponsor various defined benefit plans covering certain of our international employees. The majority of our international obligations are for defined benefit plans in Canada and the United Kingdom. In addition, many of our international employees are covered by government-sponsored retirement and pension plans. We are not directly responsible for providing benefits to participants of government-sponsored plans. U.S. Postretirement Medical Benefits We also sponsor postretirement medical plans in the U.S. that provide healthcare benefits to our retirees who meet certain eligibility requirements and who are not otherwise covered by multiemployer plans. Generally, this includes employees with at least 10 years of service who have reached age 55 and employees who are eligible for postretirement medical benefits from a Company-sponsored plan pursuant to collective bargaining agreements. We have the right to modify or terminate certain of these plans. These benefits have been provided to certain retirees on a noncontributory basis; however, in many cases, retirees are required to contribute all or a portion of the total cost of the coverage. Defined Contribution Plans We also sponsor several defined contribution plans for all employees not covered under collective bargaining agreements, and for certain employees covered under collective bargaining agreements. The Company matches, in shares of UPS common stock or cash, a portion of the participating employees’ contributions. Matching contributions charged to expense were $95, $90 and $83 million for 2014, 2013 and 2012, respectively. Contributions are also made to defined contribution money purchase plans under certain collective bargaining agreements. Amounts charged to expense were $82, $80 and $80 million for 2014, 2013 and 2012, respectively. Net Periodic Benefit Cost Information about net periodic benefit cost for the company-sponsored pension and postretirement benefit plans is as follows (in millions):   U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits   2014   2013   2012   2014   2013   2012   2014   2013   2012 Net Periodic Cost:                                   Service cost $ 1,137   $ 1,349   $ 998   $ 62   $ 103   $ 89   $ 43   $ 47   $ 41 Interest cost 1,604   1,449   1,410   152   185   208   49   44   41 Expected return on assets (2,257 )   (2,147 )   (1,970 )   (25 )   (33 )   (18 )   (61 )   (55 )   (47 ) Amortization of:                                   Transition obligation —   —   —   —   —   —   —   —   — Prior service cost 169   172   173   —   4   5   1   2   2 Actuarial (gain) loss 991   —   4,388   767   —   374   48   —   69 Curtailment and settlement loss —   —   —   356   —   —   —   —   — Other —   —   —   —   —   —   4   (5 )   (10 ) Net periodic benefit cost $ 1,644   $ 823   $ 4,999   $ 1,312   $ 259   $ 658   $ 84   $ 33   $ 96 The curtailment and settlement loss in 2014 for the U.S. postretirement medical benefit plans is discussed further in note 5 under the section entitled "Accounting Impact of Health and Welfare Plan Changes". Actuarial Assumptions The table below provides the weighted-average actuarial assumptions used to determine the net periodic benefit cost.   U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits   2014   2013   2012   2014   2013   2012   2014   2013   2012 Discount rate 5.32 %   4.42 %   5.64 %   4.89 %   4.21 %   5.47 %   4.35 %   4.00 %   4.63 % Rate of compensation increase 4.29 %   4.16 %   4.50 %   N/A   N/A   N/A   3.22 %   3.03 %   3.58 % Expected return on assets 8.75 %   8.75 %   8.75 %   8.75 %   8.75 %   8.75 %   6.29 %   6.90 %   7.20 % The table below provides the weighted-average actuarial assumptions used to determine the benefit obligations of our plans.   U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits   2014   2013   2014   2013   2014   2013 Discount rate 4.40 %   5.32 %   4.18 %   5.14 %   3.56 %   4.40 % Rate of compensation increase 4.29 %   4.29 %   N/A   N/A   3.08 %   3.30 % A discount rate is used to determine the present value of our future benefit obligations. To determine our discount rate for our U.S. pension and postretirement benefit plans, we use a bond matching approach to select specific bonds that would satisfy our projected benefit payments. We believe the bond matching approach reflects the process we would employ to settle our pension and postretirement benefit obligations. For our international plans, the discount rate is determined by matching the expected cash flows of a sample plan of similar duration to a yield curve based on long-term, high quality fixed income debt instruments available as of the measurement date. These assumptions are updated each measurement date, which is typically annually. As of December 31, 2014, the impact of each basis point change in the discount rate on the projected benefit obligation of the pension and postretirement medical benefit plans are as follows (in millions):   Increase (Decrease) in the Projected Benefit Obligation   Pension Benefits   Postretirement Medical Benefits One basis point increase in discount rate $ (65 )   $ (3 ) One basis point decrease in discount rate $ 69   $ 3 The Society of Actuaries' ("SOA") published mortality tables and improvement scales are used in developing the best estimate of mortality for plans in the U.S. On October 27, 2014, the SOA published updated mortality tables and an updated improvement scale, both of which reflect longer anticipated lifetimes. Based on an evaluation of these new tables and our perspective of future longevity, we updated the mortality assumptions for purposes of measuring pension and other postretirement benefit obligations at December 31, 2014. The change to the mortality assumption increased the year-end pension and other postretirement benefit obligations by $1.119 billion and $51 million, respectively. At December 31, 2014, we also revised the retirement assumptions for non-union plan participants based on recent retirement experience. The change to the retirement assumption decreased the year-end pension and other postretirement benefit obligations by $383 and $234 million, respectively. An assumption for the expected return on plan assets is used to determine a component of net periodic benefit cost for the fiscal year. This assumption for our U.S. plans was developed using a long-term projection of returns for each asset class, and taking into consideration our target asset allocation. The expected return for each asset class is a function of passive, long-term capital market assumptions and excess returns generated from active management. The capital market assumptions used are provided by independent investment advisors, while excess return assumptions are supported by historical performance, fund mandates and investment expectations. In addition, we compare the expected return on asset assumption with the average historical rate of return these plans have been able to generate. For plans outside the U.S., consideration is given to local market expectations of long-term returns. Strategic asset allocations are determined by plan, based on the nature of liabilities and considering the demographic composition of the plan participants. Healthcare cost trends are used to project future postretirement benefits payable from our plans. For year-end 2014 U.S. plan obligations, future postretirement medical benefit costs were forecasted assuming an initial annual increase of 7.0%, decreasing to 4.5% by the year 2020 and with consistent annual increases at those ultimate levels thereafter. Assumed healthcare cost trends can have a significant effect on the amounts reported for our postretirement medical plans. A one-percent change in assumed health care cost trend rates would have had the following effects on 2014 results (in millions):   1% Increase   1% Decrease Effect on total of service cost and interest cost $ 4   $ (4 ) Effect on postretirement benefit obligation $ 89   $ (98 ) Funded Status The following table discloses the funded status of our plans and the amounts recognized in our consolidated balance sheets as of December 31 (in millions):   U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits   2014   2013   2014   2013   2014   2013 Funded Status:                       Fair value of plan assets $ 28,828   $ 26,224   $ 259   $ 355   $ 1,042   $ 931 Benefit obligation (37,521 )   (29,508 )   (2,883 )   (4,046 )   (1,274 )   (1,076 ) Funded status recognized at December 31 $ (8,693 )   $ (3,284 )   $ (2,624 )   $ (3,691 )   $ (232 )   $ (145 ) Funded Status Recognized in our Balance Sheet:                       Other non-current assets $ —   $ —   $ —   $ —   $ 25   $ 47 Other current liabilities (17 )   (16 )   (102 )   (97 )   (3 )   (3 ) Pension and postretirement benefit obligations (8,676 )   (3,268 )   (2,522 )   (3,594 )   (254 )   (189 ) Net liability at December 31 $ (8,693 )   $ (3,284 )   $ (2,624 )   $ (3,691 )   $ (232 )   $ (145 ) Amounts Recognized in AOCI:                       Unrecognized net prior service cost $ (1,122 )   $ (1,286 )   $ (32 )   $ (79 )   $ (7 )   $ (9 ) Unrecognized net actuarial gain (loss) (3,752 )   1,233   (89 )   (29 )   (103 )   (7 ) Gross unrecognized cost at December 31 (4,874 )   (53 )   (121 )   (108 )   (110 )   (16 ) Deferred tax asset at December 31 1,833   20   45   41   29   2 Net unrecognized cost at December 31 $ (3,041 )   $ (33 )   $ (76 )   $ (67 )   $ (81 )   $ (14 ) The accumulated benefit obligation for our pension plans as of the measurement dates in 2014 and 2013 was $35.867 and $28.586 billion, respectively. Benefit payments under the pension plans include $19 and $16 million paid from employer assets in 2014 and 2013, respectively. Benefit payments (net of participant contributions) under the postretirement medical benefit plans include $122 and $108 million paid from employer assets in 2014 and 2013, respectively. Such benefit payments from employer assets are also categorized as employer contributions. At December 31, 2014 and 2013, the projected benefit obligation, the accumulated benefit obligation, and the fair value of plan assets for pension plans with benefit obligations in excess of plan assets were as follows (in millions):   Projected Benefit Obligation Exceeds the Fair Value of Plan Assets   Accumulated Benefit Obligation Exceeds the Fair Value of Plan Assets 2014   2013   2014   2013 U.S. Pension Benefits:               Projected benefit obligation $ 37,521   $ 29,508   $ 37,521   $ 29,508 Accumulated benefit obligation 34,725   27,623   34,725   27,623 Fair value of plan assets 28,828   26,224   28,828   26,224 International Pension Benefits:               Projected benefit obligation $ 510   $ 764   $ 474   $ 361 Accumulated benefit obligation 426   658   398   301 Fair value of plan assets 261   580   232   184 The accumulated postretirement benefit obligation exceeds plan assets for all of our U.S. postretirement medical benefit plans. Benefit Obligations and Fair Value of Plan Assets The following table provides a reconciliation of the changes in the plans’ benefit obligations and fair value of plan assets as of the respective measurement dates in each year (in millions).   U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits   2014   2013   2014   2013   2014   2013 Benefit Obligations:                       Projected benefit obligation at beginning of year $ 29,508   $ 31,868   $ 4,046   $ 4,412   $ 1,076   $ 1,089 Service cost 1,137   1,349   62   103   43   47 Interest cost 1,604   1,449   152   185   49   44 Gross benefits paid (924 )   (813 )   (255 )   (258 )   (26 )   (21 ) Plan participants’ contributions —   —   15   17   5   4 Plan amendments 5   140   65   4   —   — Actuarial (gain)/loss 6,191   (4,485 )   1,069   (417 )   194   (55 ) Foreign currency exchange rate changes —   —   —   —   (103 )   (26 ) Curtailments and settlements —   —   (2,271 )   —   (2 )   (6 ) Other —   —   —   —   38   — Projected benefit obligation at end of year $ 37,521   $ 29,508   $ 2,883   $ 4,046   $ 1,274   $ 1,076                           U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits   2014   2013   2014   2013   2014   2013 Fair Value of Plan Assets:                       Fair value of plan assets at beginning of year $ 26,224   $ 24,941   $ 355   $ 460   $ 931   $ 801 Actual return on plan assets 2,471   2,082   22   28   106   81 Employer contributions 1,057   14   122   108   79   90 Plan participants’ contributions —   —   15   17   3   1 Gross benefits paid (924 )   (813 )   (255 )   (258 )   (26 )   (21 ) Foreign currency exchange rate changes —   —   —   —   (79 )   (20 ) Curtailments and settlements —   —   —   —   (2 )   (1 ) Other —   —   —   —   30   — Fair value of plan assets at end of year $ 28,828   $ 26,224   $ 259   $ 355   $ 1,042   $ 931 The curtailments and settlements amount in 2014 for the U.S. postretirement medical benefit plans is discussed further in note 5 under the section entitled "Accounting Impact of Health and Welfare Plan Changes". Pension and Postretirement Plan Assets The applicable benefit plan committees establish investment guidelines and strategies, and regularly monitor the performance of the funds and portfolio managers. Our investment guidelines address the following items: governance, general investment beliefs and principles, investment objectives, specific investment goals, process for determining/maintaining the asset allocation policy, long-term asset allocation, rebalancing, investment restrictions/prohibited transactions, portfolio manager structure and diversification (which addresses limits on the amount of investments held by any one manager to minimize risk), portfolio manager selection criteria, plan evaluation, portfolio manager performance review and evaluation, and risk management (including various measures used to evaluate risk tolerance). We invest pension assets in accordance with applicable laws and regulations. The long-term primary investment objectives for our pension assets are to: (1) provide for a reasonable amount of long-term growth of capital, with prudent exposure to risk; and protect the assets from erosion of purchasing power; (2) provide investment results that meet or exceed the plans’ expected long-term rate of return; and (3) match the duration of the liabilities and assets of the plans to reduce the potential risk of large employer contributions being necessary in the future. The plans strive to meet these objectives by employing portfolio managers to actively manage assets within the guidelines and strategies set forth by the benefit plan committees. These managers are evaluated by comparing their performance to applicable benchmarks. Fair Value Measurements Pension assets utilizing Level 1 inputs include equity investments, corporate debt instruments, and U.S. government securities. Fair values were determined by closing prices for those securities traded on national stock exchanges, while securities traded in the over-the-counter market and listed securities for which no sale was reported on the valuation date are valued at the mean between the last reported bid and asked prices. Level 2 assets include certain bonds that are valued based on yields currently available on comparable securities of other issues with similar credit ratings, mortgage-backed securities that are valued based on cash flow and yield models using acceptable modeling and pricing conventions, and certain investments that are pooled with other investments held by the trustee in a commingled employee benefit trust fund. The investments in the commingled funds are valued by taking the percentage owned by the respective plan in the underlying net asset value of the trust fund, which was determined in accordance with the paragraph above. Certain investments’ estimated fair value is based on unobservable inputs that are not corroborated by observable market data and are thus classified as Level 3. These investments include commingled funds comprised of corporate and government bonds, hedge funds, real estate investments and private equity funds. The fair values may, due to the inherent uncertainty of valuation for those alternative investments, differ significantly from the values that would have been used had a ready market for the alternative investments existed, and the differences could be material. These investments are described further below: • Hedge Funds: We maintain plan assets invested in hedge funds that pursue multiple strategies to diversify risk and reduce volatility. Investments in hedge funds are valued using reported net asset values as of December 31. These assets are primarily invested in a portfolio of diversified, direct investments and funds of hedge funds. Most of these funds allow redemptions either quarterly or semi-annually after a two to three month notice period, while other funds allow for redemption after only a brief notification period with no restriction on redemption frequency. At December 31, 2014, unfunded commitments to these hedge funds totaling approximately $90 million are expected to be contributed over the remaining investment period, typically ranging between three and six years. • Risk Parity Funds: We maintain plan assets invested in risk parity strategies in order to provide diversification and balance risk / return objectives.  Investments in risk parity funds are valued using reported net asset values as of December 31. These strategies reflect a multi-asset class balanced risk approach generally consisting of equity, interest rates, credit, and commodities.  These funds allow for monthly redemptions with only a brief notification period. No unfunded commitments existed with respect to these hedge funds as of December 31, 2014. • Real Estate and Private Equity Funds: We maintain plan assets invested in limited partnership interests in various private equity and real estate funds. These private equity and real estate investment funds are valued using fair values per the most recent partnership audited financial reports, adjusted as appropriate for any lag between the date of the financial reports and December 31. The real estate investments consist of U.S. and non-U.S. real estate investments and are broadly diversified. Limited provision exists for the redemption of these interests by the general partners that invest in these funds until the end of the term of the partnerships, typically ranging between 10 and 15 years from the date of inception. An active secondary market exists for similar partnership interests, although no particular value (discount or premium) can be guaranteed. At December 31, 2014, unfunded commitments to such limited partnerships totaling approximately $1.01 billion are expected to be contributed over the remaining investment period, typically ranging between three and six years. The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2014 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations.   Level 1   Level 2   Level 3   Total Assets   Percentage of Plan Assets - 2014   Target Allocation 2014 Asset Category (U.S. Plans):                       Cash and cash equivalents $ 744   $ 1,028   $ —   $ 1,772   6.1 %   0-5 Equity Securities:                       U.S. Large Cap 2,066   2,082   —   4,148         U.S. Small Cap 322   44   —   366         Emerging Markets 1,270   116   —   1,386         Global Equity 2,788   —   —   2,788         International Equity 1,154   792   —   1,946         Total Equity Securities 7,600   3,034   —   10,634   36.6   35-55 Fixed Income Securities:                       U.S. Government Securities 4,541   239   —   4,780         Corporate Bonds 6   2,921   269   3,196         Global Bonds —   159   613   772         Municipal Bonds —   100   —   100         Total Fixed Income Securities 4,547   3,419   882   8,848   30.4   25-35 Other Investments:                       Hedge Funds —   —   3,595   3,595   12.4   5-15 Private Equity —   —   1,323   1,323   4.5   1-10 Real Estate 412   47   1,307   1,766   6.1   1-10 Structured Products(1) —   332   —   332   1.1   0-5 Risk Parity Funds —   —   817   817   2.8   1-10 Total U.S. Plan Assets $ 13,303   $ 7,860   $ 7,924   $ 29,087   100.0 %     Asset Category (International Plans):                       Cash and cash equivalents $ 6   $ 26   $ —   32   3.1   0-5 Equity Securities:                       Local Markets Equity 145   105   —   250         U.S. Equity 17   —   —   17         Emerging Markets 19   —   —   19         International / Global Equity 82   95   —   177         Total Equity Securities 263   200   —   463   44.3   50-65 Fixed Income Securities:                       Local Government Bonds 78   —   —   78         Corporate Bonds 55   94   —   149         Total Fixed Income Securities 133   94   —   227   21.8   15-35 Other Investments:                       Real Estate —   108   —   108   10.4   0-17 Other —   159   53   212   20.4   0-20 Total International Plan Assets $ 402   $ 587   $ 53   $ 1,042   100.0 %     Total Plan Assets $ 13,705   $ 8,447   $ 7,977   $ 30,129         (1) Represents mortgage and asset-backed securities. The fair values of U.S. and international pension and postretirement benefit plan assets by asset category as of December 31, 2013 are presented below (in millions), as well as the percentage that each category comprises of our total plan assets and the respective target allocations.   Level 1   Level 2   Level 3   Total Assets   Percentage of Plan Assets - 2013   Target Allocation 2013 Asset Category (U.S. Plans):                       Cash and cash equivalents $ 112   $ 514   $ —   $ 626   2.3 %   0-5 Equity Securities:                       U.S. Large Cap 2,264   1,948   —   4,212         U.S. Small Cap 457   50   —   507         Emerging Markets 1,247   120   —   1,367         Global Equity 2,154   —   —   2,154         International Equity 1,397   825   —   2,222         Total Equity Securities 7,519   2,943   —   10,462   39.4   25-55 Fixed Income Securities:                       U.S. Government Securities 3,746   615   —   4,361         Corporate Bonds 7   2,550   223   2,780         Global Bonds —   681   —   681         Municipal Bonds —   55   —   55         Total Fixed Income Securities 3,753   3,901   223   7,877   29.6   15-35 Other Investments:                       Hedge Funds —   —   3,738   3,738   14.1   8-15 Private Equity —   —   1,397   1,397   5.3   3-10 Real Estate 285   21   1,091   1,397   5.3   3-10 Structured Products(1) —   326   —   326   1.2   0-5 Risk Parity Funds —   —   756   756   2.8   1-10 Total U.S. Plan Assets $ 11,669   $ 7,705   $ 7,205   $ 26,579   100.0 %     Asset Category (International Plans):                       Cash and cash equivalents $ 11   $ 17   $ —   28   3.0   0-5 Equity Securities:                       Local Markets Equity 122   97   —   219         U.S. Equity 17   —   —   17         Emerging Markets 19   —   —   19         International / Global Equity 88   79   —   167         Total Equity Securities 246   176   —   422   45.3   50-65 Fixed Income Securities:                       Local Government Bonds 68   —   —   68         Corporate Bonds 86   85   —   171         Total Fixed Income Securities 154   85   —   239   25.7   15-35 Other Investments:                       Real Estate —   63   —   63   6.8   0-17 Other —   124   55   179   19.2   0-20 Total International Plan Assets $ 411   $ 465   $ 55   $ 931   100.0 %     Total Plan Assets $ 12,080   $ 8,170   $ 7,260   $ 27,510         (1) Represents mortgage and asset-backed securities. The following table presents the changes in the Level 3 instruments measured on a recurring basis for the years ended December 31, 2014 and 2013 (in millions).   Corporate Bonds   Hedge Funds   Real Estate   Private Equity   Global Bonds   Risk Parity Funds   Other   Total Balance on January 1, 2013 $ 138   $ 2,829   $ 1,039   $ 1,416   $ —   $ 1,362   $ 49   $ 6,833 Actual Return on Assets:                 —             Assets Held at End of Year (1 )   229   81   71   —   (99 )   6   287 Assets Sold During the Year —   5   54   153   —   54   —   266 Purchases 165   1,676   145   143   —   1   —   2,130 Sales (79 )   (1,001 )   (228 )   (386 )   —   (562 )   —   (2,256 ) Transfers Into (Out of) Level 3 —   —   —   —   —   —   —   — Balance on December 31, 2013 $ 223   $ 3,738   $ 1,091   $ 1,397   $ —   $ 756   $ 55   $ 7,260 Actual Return on Assets:                               Assets Held at End of Year —   71   104   11   —   61   (2 )   245 Assets Sold During the Year —   (9 )   23   126   —   —   —   140 Purchases 108   1,043   350   166   735   —   —   2,402 Sales (62 )   (1,248 )   (261 )   (377 )   (122 )   —   —   (2,070 ) Transfers Into (Out of) Level 3 —   —   —   —   —   —   —   — Balance on December 31, 2014 $ 269   $ 3,595   $ 1,307   $ 1,323   $ 613   $ 817   $ 53   $ 7,977 There were no UPS class A or B shares of common stock directly held in plan assets as of December 31, 2014 or December 31, 2013. Accumulated Other Comprehensive Income The estimated amounts of prior service cost in AOCI expected to be amortized and recognized as a component of net periodic benefit cost in 2015 are as follows (in millions):   U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits Prior service cost / (benefit) $ 168   $ 5   $ 1 Expected Cash Flows Information about expected cash flows for the pension and postretirement benefit plans is as follows (in millions):   U.S. Pension Benefits   U.S. Postretirement Medical Benefits   International Pension Benefits Expected Employer Contributions:           2015 to plan trusts $ 1,030   $ —   $ 69 2015 to plan participants 17   104   4 Expected Benefit Payments:           2015 $ 960   $ 245   $ 26 2016 1,052   238   25 2017 1,151   236   28 2018 1,262   231   30 2019 1,382   230   33 2020 - 2024 9,013   1,034   214 Our funding policy for U.S. plans is to contribute amounts annually that are at least equal to the amounts required by applicable laws and regulations, or to directly fund payments to plan participants, as applicable. International plans will be funded in accordance with local regulations. Additional discretionary contributions may be made when deemed appropriate to meet the long-term obligations of the plans. Expected benefit payments for pensions will be primarily paid from plan trusts. Expected benefit payments for postretirement medical benefits will be paid from plan trusts and corporate assets.