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PENSION AND OTHER BENEFITS (Tables)
 9 Months Ended
Sep. 30, 2011
PENSION AND OTHER BENEFITS [Abstract]  
Summary of change in benefit obligation, change in plan assets and respective funded status of pension and retirement plan
The following table represents the change in benefit obligation, change in plan assets and the respective funded status of UIL Holdings' pension and other postretirement plans as of December 31, 2011 and 2010.  Plan assets and obligations have been measured as of December 31, 2011 and 2010.

   
Pension Benefits
  
Other Post-Retirement Benefits
 
   
2011
  
2010
  
2011
  
2010
 
Change in Benefit Obligation:
 
(In Thousands)
 
Benefit obligation at beginning of year
 $776,131  $371,802  $130,633  $69,415 
Net transfer in due to acquistion of the Gas Companies
  -   383,233   -   57,180 
Service cost
  12,574   7,675   2,164   1,450 
Interest cost
  40,484   22,702   6,634   4,285 
Participant contributions
  -   -   3,020   1,520 
Actuarial (gain) loss
  5,492   14,336   (9,072)  1,665 
Benefits paid (including expenses)
  (42,580)  (23,617)  (10,997)  (4,882)
Benefit obligation at end of year
 $792,101  $776,131  $122,382  $130,633 
                  
Change in Plan Assets:
                
Fair value of plan assets at beginning of year
 $502,327  $231,308  $40,762  $22,194 
Net transfer in due to acquistion of the Gas Companies
  -   236,682   -   18,422 
Actual return on plan assets
  13,848   49,937   501   2,662 
Employer contributions
  74,542   8,017   -   846 
Participant contributions
  -   -   3,020   1,520 
Benefits paid (including expenses)
  (42,596)  (23,617)  (6,711)  (4,882)
Fair value of plan assets at end of year
 $548,121  $502,327  $37,572  $40,762 
                  
Funded Status at December 31:
                
Projected benefits (less than) greater than plan assets
 $243,980  $273,804  $84,810  $89,871 
                  
Amounts Recognized in the Statement of Financial Position consist of:
             
Non-current assets
 $-  $456  $-  $- 
Current liabilities
 $914  $917  $194  $216 
Non-current liabilities
 $243,065  $273,343  $84,615  $89,654 
                  
Amounts Recognized as a Regulatory Asset consist of:
                
Transition obligation (asset)
 $-  $-  $392  $1,411 
Prior service cost
  1,506   2,132   (23)  (125)
Net (gain) loss
  134,838   114,346   9,847   18,464 
Total recognized as a regulatory asset
 $136,344  $116,478  $10,216  $19,750 
                  
Information on Pension Plans with an Accumulated Benefit Obligation in excess of Plan Assets:
     
Projected benefit obligation
 $776,133  $760,658   N/A   N/A 
Accumulated benefit obligation
 $709,235  $697,081   N/A   N/A 
Fair value of plan assets
 $532,595  $486,398   N/A   N/A 
 
Components of net Periodic Benefit Cost for Pension and Other Postretirement Benefits (OPEB)
The components of net periodic benefit cost are:
 
   
For the Year Ended December 31,
 
   
Pension Benefits
  
Other Post-Retirement Benefits
 
   
2011
  
2010
  
2009
  
2011
  
2010
  
2009
 
   
(In Thousands)
 
Components of net periodic benefit cost:
                  
Service cost
 $12,574  $7,675  $6,133  $2,164  $1,450  $1,334 
Interest cost
  40,484   22,702   20,928   6,634   4,285   4,138 
Expected return on plan assets
  (42,588)  (20,739)  (17,113)  (2,965)  (1,910)  (1,640)
Amortization of:
              -   -     
Prior service costs
  643   646   697   (101)  (103)  (101)
Transition obligation (asset)
  -   -   -   1,020   1,058   1,058 
Actuarial (gain) loss
  14,032   (23,978)  14,425   2,008   690   2,686 
Net periodic benefit cost (1)
 $25,145  $(13,694) $25,070  $8,760  $5,470  $7,475 
                          
Other Changes in Plan Assets and Benefit Obligations Recognized as a Regulatory Asset:
 
Net (gain) loss
 $34,524  $21,425  $(5,590) $(6,608) $2,173  $(4,670)
Amortization of:
                        
Prior service costs
  -   -   (697)  (1,020)  (1,058)  101 
Transition obligation (asset)
  (626)  (646)      101   103   (1,058)
Actuarial (gain) loss
  (14,032)  23,978   (14,425)  (2,008)  (690)  (2,686)
Total recognized as regulatory asset
 $19,866  $44,757  $(20,712) $(9,535) $528  $(8,313)
                          
Total recognized in net periodic benefit costs and regulatory asset
 $45,011  $31,063  $4,358  $(775) $5,998  $(838)
                          
Estimated Amortizations from Regulatory Assets into Net Periodic Benefit Cost for the period January 1, 2011 - December 31, 2011:
 
Amortization of transition obligation
 $-  $-  $-  $392  $1,020  $1,059 
Amortization of prior service cost
  647   643   645   (69)  (101)  (103)
Amortization of net (gain) loss
  13,173   14,032   12,309   965   2,008   1,950 
Total estimated amortizations
 $13,820  $14,675  $12,954  $1,288  $2,927  $2,906 
 
Weighted average actuarial assumptions used in calculating benefit obligations.
The following weighted average actuarial assumptions were used in calculating the benefit obligations at December 31:
 
Discount rate (Qualified Plans)
  5.30%  5.00-5.35%  N/A   N/A 
Discount rate (Non-Qualified Plans)
  5.05%  5.10-5.15%  N/A   N/A 
Discount rate (Other Post-Retirement Benefits)
  N/A   N/A   5.05-5.30%  5.15-5.30%
Average wage increase
  3.50-3.80%  3.80-4.00%  N/A   N/A 
Health care trend rate (current year)
  N/A   N/A   8.00%  7.80-9.00%
Health care trend rate (2019-2028 forward)
  N/A   N/A   5.00%  4.50-5.00%
Weighted average actuarial assumption used in calculating net periodic benefit cost
The following actuarial weighted average assumptions were used in calculating net periodic benefit cost:
 
Discount rate
  5.10-5.35%  5.00-5.35%  6.20%  5.15-5.30%  5.00-5.30%  6.10%
Average wage increase
  3.50-3.80%  3.80-4.00%  3.80%  N/A   N/A   N/A 
Return on plan assets
  8.25-8.50%  8.25-8.50%  8.50%  5.86-8.25%  5.89-8.25%  8.50%
Health care trend rate (current year)
  N/A   N/A   N/A   7.80-8.50%  8.10-8.50%  10.00%
Health care trend rate (2019 forward)
  N/A   N/A   N/A   4.50-5.00%  4.50-5.00%  5.00%
 
(1)
For the year ended December 31, 2009, UI recorded $8.3 million of pension expense and $1.9 million of OPEBexpense as a regulatory asset.  These amounts were approved by PURA to address the actual increase in pension and postretirement expense for 2009 (see Note (C), Regulatory Proceedings).
 
Effect of one percentage change in assumed health care cost trend rate
A one percentage point change in the assumed health care cost trend rate would have the following effects:

   
1% Increase
  
1% Decrease
 
   
(In Thousands)
 
Aggregate service and interest cost components
 $936  $(763)
Accumulated post-retirement benefit obligation
 $10,777  $(8,983)
Expected future benefit payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:

Year
 
Pension Benefits
  
Other Postretirement Benefits
 
   
(In Thousands)
 
2012
 $42,406  $7,616 
2013
 $47,270  $7,816 
2014
 $44,744  $7,884 
2015
 $47,002  $7,984 
2016
 $48,409  $8,029 
2017-2021
 $262,764  $40,860