PENSIONS AND OTHER POSTRETIREMENT BENEFITS
|6 Months Ended|
Jun. 30, 2021
|Postemployment Benefits [Abstract]|
|PENSIONS AND OTHER POSTRETIREMENT BENEFITS||
NOTE 10 - PENSIONS AND OTHER POSTRETIREMENT BENEFITS
We offer defined benefit pension plans, defined contribution pension plans and OPEB plans to a significant portion of our employees and retirees. Benefits are also provided through multiemployer plans for certain union members.
The following are the components of defined benefit pension and OPEB costs (credits):
Defined Benefit Pension Costs (Credits)
OPEB Costs (Credits)
Based on funding requirements, we made defined benefit pension contributions of $7 million and $153 million for the three and six months ended June 30, 2021, respectively, compared to defined benefit pension contributions of $4 million for the six months ended June 30, 2020. As a result of the CARES Act enacted on March 27, 2020, we deferred $118 million of 2020 pension contributions, which were paid on January 4, 2021. For both the three and six months ended June 30, 2021, we made contributions of $5 million for our voluntary employee benefit association trust plans. Based on funding requirements, no contributions for our voluntary employee benefit association trust plans were required or made for the three and six months ended June 30, 2020.
The entire disclosure for retirement benefits.
Reference 1: http://www.xbrl.org/2003/role/exampleRef