Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2014

The following table summarizes the Company’s change in benefit obligation for the periods ended June 30, 2014 and December 31, 2013:



Puget Energy and Puget Sound Energy	Qualified Pension Benefits						SERP Pension Benefits						Other Benefits
	Six Months Ended			Year Ended			Six Months Ended			Year Ended			Six Months Ended			Year Ended
(Dollars in Thousands)	June 30, 2014			December 31, 2013			June 30, 2014			December 31, 2013			June 30, 2014			December 31, 2013
Change in benefit obligation:
Benefit obligation at beginning of period	$	573,317		$	616,290		$	47,279		$	51,795		$	14,939		$	17,672
Service cost	8,718			19,285			521			1,498			56			134
Interest cost	14,020			24,754			1,155			2,045			342			664
Amendment	—			—			—			478			—			—
Actuarial Net loss/(gain) BOY Census, remeasurement	1,878			(48,559		)	—			(1,687		)	(932		)	(2,240		)
Benefits paid	(25,408		)	(38,453		)	(942		)	(6,850		)	(739		)	(1,536		)
Medicare part D subsidy received	—			—			—						117			245
Benefit obligation at end of period	$	572,525		$	573,317		$	48,013		$	47,279		$	13,783		$	14,939

Parent Company [Member]

The following tables summarize the Company’s net periodic benefit cost for the three and six months ended June 30, 2014 and 2013:



Puget Energy	Qualified Pension Benefits						SERP Pension Benefits					Other Benefits
	Three Months Ended June 30,
(Dollars in Thousands)	2014			2013			2014		2013			2014			2013
Components of net periodic benefit cost:
Service cost	$	4,206		$	4,934		$	261	$	375		$	26		$	32
Interest cost	6,965			6,182			577		511			159			155
Expected return on plan assets	(10,511		)	(9,696		)	—		—			(134		)	(109		)
Amortization of prior service cost	(495		)	(495		)	11		(4		)	—			—
Amortization of net loss (gain)	—			794			228		365			(130		)	18
Net periodic benefit cost	$	165		$	1,719		$	1,077	$	1,247		$	(79	)	$	96




Puget Energy	Qualified Pension Benefits						SERP Pension Benefits					Other Benefits
	Six Months Ended June 30,
(Dollars in Thousands)	2014			2013			2014		2013			2014			2013
Components of net periodic benefit cost:
Service cost	$	8,718		$	9,643		$	521	$	749		$	56		$	67
Interest cost	14,020			12,377			1,155		1,022			342			332
Expected return on plan assets	(21,232		)	(19,548		)	—		—			(267		)	(218		)
Amortization of prior service cost	(990		)	(990		)	22		(9		)	(197		)	—
Amortization of net loss (gain)	—			1,444			456		731			—			34
Net periodic benefit cost	$	516		$	2,926		$	2,154	$	2,493		$	(66	)	$	215

Subsidiaries [Member]



Puget Sound Energy	Qualified						SERP					Other
	Pension Benefits						Pension Benefits					Benefits
	Three Months Ended June 30,
(Dollars in Thousands)	2014			2013			2014		2013			2014			2013
Components of net periodic benefit cost:
Service cost	$	4,206		$	4,934		$	261	$	375		$	26		$	32
Interest cost	6,965			6,182			577		511			159			155
Expected return on plan assets	(10,708		)	(10,094		)	—		—			(134		)	(109		)
Amortization of prior service cost	(393		)	(393		)	11		(4		)	1			8
Amortization of net loss (gain)	3,359			5,221			365		548			(208		)	(108		)
Net periodic benefit cost	$	3,429		$	5,850		$	1,214	$	1,430		$	(156	)	$	(22	)



Puget Sound Energy	Qualified						SERP					Other
	Pension Benefits						Pension Benefits					Benefits
	Six Months Ended June 30,
(Dollars in Thousands)	2014			2013			2014		2013			2014			2013
Components of net periodic benefit cost:
Service cost	$	8,718		$	9,643		$	521	$	749		$	56		$	67
Interest cost	14,020			12,377			1,155		1,022			342			332
Expected return on plan assets	(21,626		)	(20,343		)	—		—			(267		)	(218		)
Amortization of prior service cost	(786		)	(787		)	22		(8		)	2			14
Amortization of net loss (gain)	6,597			10,306			730		1,096			(352		)	(142		)
Net periodic benefit cost	$	6,923		$	11,196		$	2,428	$	2,859		$	(219	)	$	53