Notes to Consolidated Financial Statements – (continued)
(Amounts in Millions, Except Per Share Amounts)
During 2014, we contributed $2.7 and $25.7 of cash to our domestic and foreign pension plans, respectively. For 2015, we expect to contribute approximately $3.0 and $24.0 of cash to our domestic and foreign pension plans, respectively.
The following estimated future benefit payments, which reflect future service, as appropriate, are expected to be paid in the years indicated below.
2020 - 2024
The estimated future payments for our domestic postretirement benefit plan is before any estimated federal subsidies expected to be received under the Medicare Prescription Drug, Improvement and Modernization Act of 2003.
The following federal subsidies are expected to be received in the years indicated below.
2020 - 2024
We sponsor defined contribution plans (the “Savings Plans”) that cover substantially all domestic employees. The Savings Plans permit participants to make contributions on a pre-tax and/or after-tax basis and allow participants to choose among various investment alternatives. We match a portion of participant contributions based upon their years of service. Amounts expensed for the Savings Plans for 2014, 2013 and 2012 were $43.0, $37.7 and $35.6, respectively. Expense includes a discretionary Company contribution of $5.2, $4.9 and $4.8 offset by participant forfeitures of $3.6, $3.3 and $3.0 in 2014, 2013 and 2012, respectively. In addition, we maintain defined contribution plans in various foreign countries and contributed $42.4, $36.9 and $34.0 to these plans in 2014, 2013 and 2012, respectively.
Deferred Compensation and Benefit Arrangements
We have deferred compensation arrangements which (i) permit certain of our key officers and employees to defer a portion of their salary or incentive compensation, or (ii) require us to contribute an amount to the participant’s account. The arrangements typically provide that the participant will receive the amounts deferred plus interest upon attaining certain conditions, such as completing a certain number of years of service or upon retirement or termination. As of December 31, 2014 and 2013, the deferred compensation liability balance was $97.7 and $92.7, respectively. Amounts expensed for deferred compensation arrangements in 2014, 2013 and 2012 were $9.8, $13.4 and $9.8, respectively.
We have deferred benefit arrangements with certain key officers and employees that provide participants with an annual payment, payable when the participant attains a certain age and after the participant’s employment has terminated. The deferred benefit liability was $153.2 and $166.2 as of December 31, 2014 and 2013, respectively. Amounts expensed for deferred benefit arrangements in 2014, 2013 and 2012 were $10.8, $14.0 and $15.0, respectively.