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Pension, OPEB and Savings Plans (Tables) | 12 Months Ended
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Dec. 31, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] |
Schedule of Defined Benefit Plans Disclosures | The following table provides a roll-forward of the changes in the benefit obligation and the fair value of plan assets during each of the two years in the periods ended December 31, 2016 and 2015. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years.
|  |  | Pension Benefits |  | Other Benefits |
|  |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
|  |  | Millions |
| Change in Benefit Obligation |  |  |  |  |  |  |  |  |
| Benefit Obligation at Beginning of Year (A) |  | $ | 5,522 |  |  | $ | 5,722 |  |  | $ | 1,612 |  |  | $ | 1,638 |  |
| Service Cost |  | 109 |  |  | 123 |  |  | 17 |  |  | 22 |  |
| Interest Cost |  | 202 |  |  | 234 |  |  | 59 |  |  | 67 |  |
| Actuarial (Gain) Loss (B) |  | 219 |  |  | (289 | ) |  | 127 |  |  | (45 | ) |
| Gross Benefits Paid |  | (282 | ) |  | (268 | ) |  | (57 | ) |  | (70 | ) |
| Plan Amendments |  | 2 |  |  | — |  |  | (4 | ) |  | — |  |
| Benefit Obligation at End of Year (A) |  | $ | 5,772 |  |  | $ | 5,522 |  |  | $ | 1,754 |  |  | $ | 1,612 |  |
| Change in Plan Assets |  |  |  |  |  |  |  |  |
| Fair Value of Assets at Beginning of Year |  | $ | 5,039 |  |  | $ | 5,293 |  |  | $ | 374 |  |  | $ | 361 |  |
| Actual Return on Plan Assets |  | 403 |  |  | (11 | ) |  | 32 |  |  | (1 | ) |
| Employer Contributions |  | 33 |  |  | 25 |  |  | 71 |  |  | 84 |  |
| Gross Benefits Paid |  | (282 | ) |  | (268 | ) |  | (57 | ) |  | (70 | ) |
| Fair Value of Assets at End of Year |  | $ | 5,193 |  |  | $ | 5,039 |  |  | $ | 420 |  |  | $ | 374 |  |
| Funded Status |  |  |  |  |  |  |  |  |
| Funded Status (Plan Assets less Benefit Obligation) |  | $ | (579 | ) |  | $ | (483 | ) |  | $ | (1,334 | ) |  | $ | (1,238 | ) |
| Additional Amounts Recognized in the Consolidated Balance Sheets |  |  |  |  |  |  |  |  |
| Noncurrent Assets (included in Other Special Funds) |  | $ | — |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |
| Current Accrued Benefit Cost |  | (11 | ) |  | (10 | ) |  | (10 | ) |  | (10 | ) |
| Noncurrent Accrued Benefit Cost |  | (568 | ) |  | (487 | ) |  | (1,324 | ) |  | (1,228 | ) |
| Amounts Recognized |  | $ | (579 | ) |  | $ | (483 | ) |  | $ | (1,334 | ) |  | $ | (1,238 | ) |
| Additional Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulated Assets and Deferred Assets (B) |  |  |
| Prior Service Cost |  | $ | (63 | ) |  | $ | (83 | ) |  | $ | (14 | ) |  | $ | (25 | ) |
| Net Actuarial Loss |  | 1,763 |  |  | 1,710 |  |  | 523 |  |  | 438 |  |
| Total |  | $ | 1,700 |  |  | $ | 1,627 |  |  | $ | 509 |  |  | $ | 413 |  |
(A) | Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits.
(B) | Includes $679 million ($398 million, after-tax) and $658 million ($386 million, after-tax) in Accumulated Other Comprehensive Loss related to Pension and OPEB as of December 31, 2016 and 2015, respectively.
The following table provides a roll-forward of the changes in Servco’s benefit obligation and the fair value of its plan assets during the years ended December 31, 2016 and 2015. It also provides the funded status of the plans and the amounts recognized and amounts not recognized on the Consolidated Balance Sheets at the end of both years.
|  |  | Pension Benefits |  | Other Benefits |
|  |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
|  |  |  |  | Millions |
| Change in Benefit Obligation |  |  |  |  |  |  |  |  |
| Benefit Obligation at Beginning of Year |  | $ | 211 |  |  | $ | 195 |  |  | $ | 375 |  |  | $ | 452 |  |
| Service Cost |  | 24 |  |  | 26 |  |  | 12 |  |  | 17 |  |
| Interest Cost |  | 9 |  |  | 9 |  |  | 17 |  |  | 21 |  |
| Actuarial (Gain) Loss |  | 14 |  |  | (20 | ) |  | 50 |  |  | (114 | ) |
| Gross Benefits Paid |  | (1 | ) |  | — |  |  | (2 | ) |  | (1 | ) |
| Plan Amendments |  | 5 |  |  | 1 |  |  | — |  |  | — |  |
| Benefit Obligation at End of Year (A) |  | $ | 262 |  |  | $ | 211 |  |  | $ | 452 |  |  | $ | 375 |  |
| Change in Plan Assets |  |  |  |  |  |  |  |  |
| Fair Value of Assets at Beginning of Year |  | $ | 97 |  |  | $ | 69 |  |  | $ | — |  |  | $ | — |  |
| Actual Return on Plan Assets |  | 10 |  |  | (2 | ) |  | — |  |  | — |  |
| Employer Contributions |  | 28 |  |  | 30 |  |  | 2 |  |  | 1 |  |
| Gross Benefits Paid |  | (1 | ) |  | — |  |  | (2 | ) |  | (1 | ) |
| Fair Value of Assets at End of Year |  | $ | 134 |  |  | $ | 97 |  |  | $ | — |  |  | $ | — |  |
| Funded Status |  |  |  |  |  |  |  |  |
| Funded Status (Plan Assets less Benefit Obligation) |  | $ | (128 | ) |  | $ | (114 | ) |  | $ | (452 | ) |  | $ | (375 | ) |
| Additional Amounts Recognized in the Consolidated Balance Sheets |  |  |  |  |  |  |  |  |
| Accrued Pension Costs of Servco |  | $ | (128 | ) |  | $ | (114 | ) |  | N/A |  |  | N/A |  |
| OPEB Costs of Servco |  | N/A |  |  | N/A |  |  | (452 | ) |  | (375 | ) |
| Amounts Recognized (B) |  | $ | (128 | ) |  | $ | (114 | ) |  | $ | (452 | ) |  | $ | (375 | ) |
(A) | Represents projected benefit obligation for pension benefits and the accumulated postretirement benefit obligation for other benefits.
(B) | Amounts equal to the accrued pension and OPEB costs of Servco are offset in Long-Term Receivable of VIE on PSEG’s Consolidated Balance Sheets.
Components Of Net Periodic Benefit Cost | The following table provides the components of net periodic benefit cost for the years ended December 31, 2016, 2015 and 2014.
|  |  | Pension Benefits Years Ended December 31, |  | Other Benefits Years Ended December 31, |
|  |  | 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014 |
|  |  | Millions |
| Components of Net Periodic Benefit Cost (Credit) |  |  |  |  |  |  |  |  |  |  |  |  |
| Service Cost |  | $ | 109 |  |  | $ | 123 |  |  | $ | 104 |  |  | $ | 17 |  |  | $ | 22 |  |  | 18 |  |
| Interest Cost |  | 202 |  |  | 234 |  |  | 234 |  |  | 59 |  |  | 67 |  |  | 69 |  |
| Expected Return on Plan Assets |  | (394 | ) |  | (414 | ) |  | (399 | ) |  | (31 | ) |  | (31 | ) |  | (26 | ) |
| Amortization of Net |  |  |  |  |  |  |  |  |  |  |  |  |
| Prior Service Credit |  | (19 | ) |  | (19 | ) |  | (18 | ) |  | (14 | ) |  | (14 | ) |  | (14 | ) |
| Actuarial Loss |  | 158 |  |  | 150 |  |  | 56 |  |  | 40 |  |  | 43 |  |  | 23 |  |
| Net Periodic Benefit Cost (Credit) |  | $ | 56 |  |  | $ | 74 |  |  | $ | (23 | ) |  | $ | 71 |  |  | $ | 87 |  |  | $ | 70 |  |
Schedule Of Pension And OPEB Costs | Pension costs and OPEB costs for PSEG, PSE&G and Power are detailed as follows:
|  |  | Pension Benefits Years Ended December 31, |  | Other Benefits Years Ended December 31, |
|  |  | 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014 |
|  |  | Millions |
| PSE&G |  | $ | 29 |  |  | $ | 40 |  |  | $ | (19 | ) |  | $ | 43 |  |  | $ | 55 |  |  | $ | 46 |  |
| Power |  | 16 |  |  | 21 |  |  | (7 | ) |  | 23 |  |  | 27 |  |  | 20 |  |
| Other |  | 11 |  |  | 13 |  |  | 3 |  |  | 5 |  |  | 5 |  |  | 4 |  |
| Total Benefit Cost (Credit) |  | $ | 56 |  |  | $ | 74 |  |  | $ | (23 | ) |  | $ | 71 |  |  | $ | 87 |  |  | $ | 70 |  |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The following table provides the pre-tax changes recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Deferred Assets:
|  |  | Pension |  | OPEB |
|  |  | 2016 |  | 2015 |  | 2016 |  | 2015 |
|  |  | Millions |
| Net Actuarial (Gain) Loss in Current Period |  | $ | 211 |  |  | $ | 136 |  |  | $ | 125 |  |  | $ | (14 | ) |
| Amortization of Net Actuarial Gain (Loss) |  | (158 | ) |  | (150 | ) |  | (40 | ) |  | (43 | ) |
| Prior Service Cost (Credit) in current period |  | 1 |  |  | — |  |  | (3 | ) |  | — |  |
| Amortization of Prior Service Credit |  | 19 |  |  | 19 |  |  | 14 |  |  | 14 |  |
| Total |  | $ | 73 |  |  | $ | 5 |  |  | $ | 96 |  |  | $ | (43 | ) |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | Amounts that are expected to be amortized from Accumulated Other Comprehensive Loss, Regulatory Assets and Deferred Assets into Net Periodic Benefit Cost in 2017 are as follows:
|  |  | Pension Benefits |  | Other Benefits |
|  |  | 2017 |  | 2017 |
|  |  | Millions |
| Actuarial (Gain) Loss |  | $ | 97 |  |  | $ | 51 |  |
| Prior Service Cost |  | $ | (18 | ) |  | $ | (11 | ) |
Schedule of Assumptions Used | The following assumptions were used to determine the benefit obligations and net periodic benefit costs:
|  |  | Pension Benefits |  | Other Benefits |
|  |  | 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014 |
| Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 |  |  |
| Discount Rate |  | 4.29 | % |  | 4.54 | % |  | 4.20 | % |  | 4.37 | % |  | 4.58 | % |  | 4.21 | % |
| Rate of Compensation Increase |  | 3.61 | % |  | 3.61 | % |  | 3.61 | % |  | 3.61 | % |  | 3.61 | % |  | 3.61 | % |
| Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended December 31 |  |  |
| Discount Rate |  | 4.54 | % |  | 4.20 | % |  | 5.00 | % |  | 4.58 | % |  | 4.21 | % |  | 5.01 | % |
| Service Cost Interest Rate |  | 4.81 | % |  | 4.20 | % |  | 5.00 | % |  | 4.87 | % |  | 4.21 | % |  | 5.01 | % |
| Interest Cost Interest Rate |  | 3.75 | % |  | 4.20 | % |  | 5.00 | % |  | 3.76 | % |  | 4.21 | % |  | 5.01 | % |
| Expected Return on Plan Assets |  | 8.00 | % |  | 8.00 | % |  | 8.00 | % |  | 8.00 | % |  | 8.00 | % |  | 8.00 | % |
| Rate of Compensation Increase |  | 3.61 | % |  | 3.61 | % |  | 4.61 | % |  | 3.61 | % |  | 3.61 | % |  | 4.61 | % |
| Assumed Health Care Cost Trend Rates as of December 31 |  |  |  |  |  |  |  |  |
| Administrative Expense |  |  |  |  |  |  |  | 3.00 | % |  | 3.00 | % |  | 3.00 | % |
| Health Care Costs |  |  |  |  |  |  |  |  |  |  |  |  |
| Immediate Rate |  |  |  |  |  |  |  | 7.55 | % |  | 7.75 | % |  | 7.40 | % |
| Ultimate Rate |  |  |  |  |  |  |  | 4.75 | % |  | 4.75 | % |  | 5.00 | % |
| Year Ultimate Rate Reached |  |  |  |  |  |  |  | 2025 |  |  | 2025 |  |  | 2022 |  |
|  |  |  |  |  |  |  |  | Millions |
| Effect of a 1% Increase in the Assumed Rate of Increase in Health Care Benefit Costs |  |  |
| Total of Service Cost and Interest Cost |  |  |  |  |  |  |  | $ | 11 |  |  | $ | 12 |  |  | $ | 13 |  |
| Postretirement Benefit Obligation |  |  |  |  |  |  |  | $ | 191 |  |  | $ | 194 |  |  | $ | 201 |  |
| Effect of a 1% Decrease in the Assumed Rate of Increase in Health Care Benefit Costs |  |  |
| Total of Service Cost and Interest Cost |  |  |  |  |  |  |  | $ | (9 | ) |  | $ | (10 | ) |  | $ | (10 | ) |
| Postretirement Benefit Obligation |  |  |  |  |  |  |  | $ | (160 | ) |  | $ | (160 | ) |  | $ | (165 | ) |
The following assumptions were used to determine the benefit obligations of Servco:
|  |  | Pension Benefits |  | Other Benefits |
|  |  | 2016 |  | 2015 |  | 2014 |  | 2016 |  | 2015 |  | 2014 |
| Weighted-Average Assumptions Used to Determine Benefit Obligations as of December 31 |  |  |
| Discount Rate |  | 4.61 | % |  | 4.92 | % |  | 4.50 | % |  | 4.71 | % |  | 4.97 | % |  | 4.60 | % |
| Rate of Compensation Increase |  | 3.25 | % |  | 3.25 | % |  | 3.25 | % |  | 3.25 | % |  | 3.25 | % |  | 3.25 | % |
| Assumed Health Care Cost Trend Rates as of December 31 |  |  |  |  |  |  |  |  |
| Administrative Expense |  |  |  |  |  |  |  | 5.00 | % |  | 5.00 | % |  | 5.00 | % |
| Health Care Costs |  |  |  |  |  |  |  |  |  |  |  |  |
| Immediate Rate |  |  |  |  |  |  |  | 7.55 | % |  | 7.55 | % |  | 7.33 | % |
| Ultimate Rate |  |  |  |  |  |  |  | 4.75 | % |  | 4.75 | % |  | 5.00 | % |
| Year Ultimate Rate Reached |  |  |  |  |  |  |  | 2025 |  |  | 2025 |  |  | 2021 |  |
|  |  |  |  |  |  |  |  | Millions |
| Effect of a 1% Increase in the Assumed Rate of Increase in Health Care Benefit Costs |  |  |
| Postretirement Benefit Obligation |  |  |  |  |  |  |  | $ | 97 |  |  | $ | 75 |  |  | $ | 160 |  |
| Effect of a 1% Decrease in the Assumed Rate of Increase in Health Care Benefit Costs |  |  |
| Postretirement Benefit Obligation |  |  |  |  |  |  |  | $ | (75 | ) |  | $ | (60 | ) |  | $ | (106 | ) |
Schedule of Allocation of Plan Assets | The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans as of the measurement date, December 31:
|  |  | As of December 31, |
| Investments |  | 2016 |  | 2015 |
| Equity Securities |  | 70 | % |  | 70 | % |
| Fixed Income Securities |  | 28 |  |  | 28 |  |
| Other Investments |  | 2 |  |  | 2 |  |
| Total Percentage |  | 100 | % |  | 100 | % |
The following tables present information about Servco’s investments measured at fair value on a recurring basis as of December 31, 2016 and 2015, including the fair value measurements and the levels of inputs used in determining those fair values.
|  |  | Recurring Fair Value Measurements as of December 31, 2016 |
|  |  |  |  | Quoted Market Prices for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |
| Description |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |
|  |  | Millions |
| Commingled Equities (A) |  | $ | 96 |  |  | $ | — |  |  | $ | 96 |  |  | $ | — |  |
| Commingled Bonds (A) |  | 38 |  |  | — |  |  | 38 |  |  | — |  |
| Total |  | $ | 134 |  |  | $ | — |  |  | $ | 134 |  |  | $ | — |  |
|  |  | Recurring Fair Value Measurements as of December 31, 2015 |
|  |  |  |  | Quoted Market Prices for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |
| Description |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |
|  |  | Millions |
| Commingled Equities (A) |  | $ | 68 |  |  | $ | — |  |  | $ | 68 |  |  | $ | — |  |
| Commingled Bonds (A) |  | 29 |  |  | — |  |  | 29 |  |  | — |  |
| Total |  | $ | 97 |  |  | $ | — |  |  | $ | 97 |  |  | $ | — |  |
(A) | Investments in commingled equity and bond funds have a readily determinable fair value as they publish a daily NAV available to investors which is the basis for current transactions and contain certain redemption restrictions requiring advance notice of one to two days for withdrawals (Level 2). In 2016, PSEG re-evaluated the classification, within the fair value hierarchy, of its commingled funds. As a result, PSEG determined that the commingled equity funds should have been classified as Level 2 instead of Level 1, as previously presented for 2015, due to the funds having certain redemption restrictions which prevent daily redemptions at the published price. In addition to the advance notice of one or two days, redemption days may be limited to twice per month for certain funds. PSEG has determined that this error is immaterial to its previously filed financial reports and, accordingly, has corrected the error by revising the amounts disclosed for 2015 to report the commingled equity fund balance of $68 million as of December 31, 2015 as Level 2.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets | The following tables present information about the investments measured at fair value on a recurring basis as of December 31, 2016 and 2015, including the fair value measurements and the levels of inputs used in determining those fair values.
|  |  | Recurring Fair Value Measurements as of December 31, 2016 |
|  |  |  |  | Quoted Market Prices for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |
| Description |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |
|  |  | Millions |
| Cash Equivalents (A) |  | $ | 107 |  |  | $ | 105 |  |  | $ | 2 |  |  | $ | — |  |
| Equities (B) |  |  |  |  |  |  |  |  |  |
| Common Stock |  | 944 |  |  | 944 |  |  | — |  |  | — |  |
| Commingled (C) |  | 1,387 |  |  | 1,247 |  |  | 140 |  |  | — |  |
| Preferred Stock |  | 1 |  |  | 1 |  |  | — |  |  | — |  |
| Bonds (D) |  |  |  |  |  |  |  |  |  |
| US Treasury |  | 441 |  |  | — |  |  | 441 |  |  | — |  |
| Government—Other |  | 263 |  |  | — |  |  | 263 |  |  | — |  |
| Corporate |  | 836 |  |  | — |  |  | 836 |  |  | — |  |
| Subtotal Fair Value |  | $ | 3,979 |  |  | $ | 2,297 |  |  | $ | 1,682 |  |  | $ | — |  |
| Measured at net asset value practical expedient (C) |  |  |  |  |  |  |  |  |
| Commingled—Equities |  | 1,604 |  |  |  |  |  |  |  |
| Private Equity (E) |  | 16 |  |  |  |  |  |  |  |
| Total Fair Value (F) |  | $ | 5,599 |  |  |  |  |  |  |  |  |  |  |
|  |  | Recurring Fair Value Measurements as of December 31, 2015 |
|  |  |  |  | Quoted Market Prices for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |
| Description |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3) |
|  |  | Millions |
| Cash Equivalents (A) |  | $ | 96 |  |  | $ | 95 |  |  | $ | 1 |  |  | $ | — |  |
| Equities (B) |  |  |  |  |  |  |  |  |  |
| Common Stock |  | 816 |  |  | 816 |  |  | — |  |  | — |  |
| Commingled (C) |  | 1,463 |  |  | 1,269 |  |  | 194 |  |  | — |  |
| Bonds (D) |  |  |  |  |  |  |  |  |  |
| US Treasury |  | 322 |  |  | — |  |  | 322 |  |  | — |  |
| Government—Other |  | 279 |  |  | — |  |  | 279 |  |  | — |  |
| Corporate |  | 906 |  |  | — |  |  | 906 |  |  | — |  |
| Subtotal Fair Value |  | $ | 3,882 |  |  | $ | 2,180 |  |  | $ | 1,702 |  |  | $ | — |  |
| Measured at net asset value practical expedient (C) |  |  |  |  |  |  |  |  |
| Commingled—Equities |  | 1,504 |  |  |  |  |  |  |  |
| Private Equity (E) |  | 19 |  |  |  |  |  |  |  |
| Total Fair Value (F) |  | $ | 5,405 |  |  |  |  |  |  |  |  |  |  |
(A) | Certain open-ended mutual funds with mainly short-term investments are valued based on unadjusted quoted prices in active market (Level 1). Certain temporary investments are valued using inputs such as time-to-maturity, coupon rate, quality rating and current yield (Level 2).
(B) | Common stocks and preferred stocks are measured using observable data in active markets and considered Level 1. Investments in certain commingled equity funds are measured at their published daily net asset value (NAV) available to investors; if they are redeemable daily without restrictions, they are classified as Level 1 or, if they have restrictions which prevent daily redemptions, they are classified as Level 2.
(C) | In 2016, PSEG re-evaluated the classification, within the fair value hierarchy, of its commingled equity funds. As a result, PSEG determined that certain commingled funds in the amount of $1,698 million at December 31, 2015 should have been classified as Level 2 instead of Level 1, as previously presented for 2015, due to the funds having certain redemption restrictions which prevent daily redemptions at their published price. PSEG has determined that this error is immaterial to its previously filed financial reports and, accordingly, has corrected the error by revising the amounts disclosed for 2015 to report such investments as Level 2. In addition, as part of our implementation of the new accounting guidance on investments measured at fair value using NAV as a practical expedient in 2016, the majority of these same commingled equity funds have been removed from the fair value hierarchy as they are measured at fair value using the NAV per share (or its equivalent) practical expedient. See Note 2. Recent Accounting Standards. These funds do not meet the definition of readily determinable fair value due to limitations in published NAV (last business day of the month) and include certain redemption restrictions ranging from one to fifteen days advance notice prior to redemption days and limitations on withdrawals over 25% of the total fund. The objectives of these funds are mainly tracking the S&P Index or achieving long-term growth through investment in foreign equity securities and the MSCI Emerging Markets Index. As a result of the error correction for the $1,698 million that should have been classified as Level 2 for 2015 and $1,504 million that was removed from the fair value hierarchy as part of the new guidance on NAV practical expedient implementation, $194 million has been reclassified to Level 2 as of December 31, 2015.
(D) | Fixed income securities include mainly investment grade corporate and municipal bonds, US Treasury obligations and Federal Agency asset-backed securities with a wide range of maturities. These investments are valued using an evaluated pricing approach that varies by asset class and reflects observable market information such as the most recent exchange price or quoted bid for similar securities. Market-based standard inputs typically include benchmark yields, reported trades, broker/dealer quotes and issuer spreads or the most recent quoted for similar securities which are a Level 2 measure.
(E) | Private equity investments include various limited partnerships that invest in operating companies through acquisitions or developing a portfolio of non-US distressed investments. These investments are valued at NAV on an annual basis and have significant redemption restrictions preventing redemption until fund liquidation and limited ability to sell these investments. These investments have been removed from the fair value hierarchy in accordance with the new guidance on NAV practical expedient.
(F) | Excludes net receivable of $14 million and $8 million at December 31, 2016 and 2015, respectively, which consists of interest and dividend, receivables and payables related to pending securities sales and purchases.
Schedule Of Percentage Of Fair Value Of Total Plan Assets | The following table provides the percentage of fair value of total plan assets for each major category of plan assets held for the qualified pension and OPEB plans of Servco as of the measurement date, December 31:
|  |  | As of December 31, |
| Investments |  | 2016 |  | 2015 |
| Equity Securities |  | 71 | % |  | 71 | % |
| Fixed Income Securities |  | 29 |  |  | 29 |  |
| Total Percentage |  | 100 | % |  | 100 | % |
Schedule of Expected Benefit Payments | The following pension benefit and postretirement benefit payments are expected to be paid to Servco’s plan participants:
| Year |  |  | Pension Benefits |  | Other Benefits |
|  |  |  | Millions |
| 2017 |  |  | $ | 2 |  |  | $ | 4 |  |
| 2018 |  |  | 3 |  |  | 6 |  |
| 2019 |  |  | 5 |  |  | 9 |  |
| 2020 |  |  | 7 |  |  | 11 |  |
| 2021 |  |  | 8 |  |  | 13 |  |
| 2022-2026 |  |  | 76 |  |  | 96 |  |
| Total |  |  | $ | 101 |  |  | $ | 139 |  |
The following pension benefit and postretirement benefit payments are expected to be paid to plan participants.
| Year |  |  | Pension Benefits |  | Other Benefits |
|  |  |  | Millions |
| 2017 |  |  | $ | 310 |  |  | $ | 82 |  |
| 2018 |  |  | 307 |  |  | 86 |  |
| 2019 |  |  | 319 |  |  | 90 |  |
| 2020 |  |  | 331 |  |  | 94 |  |
| 2021 |  |  | 343 |  |  | 99 |  |
| 2022-2026 |  |  | 1,887 |  |  | 534 |  |
| Total |  |  | $ | 3,497 |  |  | $ | 985 |  |
Schedule Of Amount Paid For Employer Matching Contributions | The amount paid for employer matching contributions to the plans for PSEG, PSE&G and Power are detailed as follows:
|  |  | Thrift Plan and Savings Plan |
|  |  | Years Ended December 31, |
|  |  | 2016 |  | 2015 |  | 2014 |
|  |  | Millions |
| PSE&G |  | $ | 24 |  |  | $ | 22 |  |  | $ | 20 |  |
| Power |  | 12 |  |  | 12 |  |  | 11 |  |
| Other |  | 5 |  |  | 5 |  |  | 5 |  |
| Total Employer Matching Contributions |  | $ | 41 |  |  | $ | 39 |  |  | $ | 36 |  |

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