XML 34 R22.htm IDEA: XBRL DOCUMENT v3.7.0.1
Retirement and Other Employee Benefits
3 Months Ended
Mar. 31, 2017
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Retirement and Other Employee Benefits Retirement and Other Employee Benefits
The components of net periodic (gain) benefit cost for the Company’s qualified pension benefits plan, nonqualified pension benefits plan and retirement health benefits plan for the three months ended March 31, 2017 and 2016 were as follows: 
 
Qualified Pension Benefits
 
Unfunded Nonqualified Pension
Benefits
 
Retirement Health
Benefits
 
For the Three Months Ended March 31,
 
For the Three Months Ended March 31,
 
For the Three Months Ended March 31,
 
2017 Plan 1
2017 Plan 2
 
2016 Plan 1
2016 Plan 2
 
2017
 
2016
 
2017
 
2016
Service cost
$

$

 
$

$

 
$

 
$
0.1

 
$

 
$

Interest cost
2.9

3.1

 
3.4

3.5

 
0.8

 
0.9

 
0.9

 
0.9

Expected return on plan assets
(6.1
)
(6.8
)
 
(7.8
)
(5.9
)
 

 

 
(0.8
)
 
(0.8
)
Amortization of net loss

0.3

 

0.3

 
0.3

 
0.3

 

 

Curtailment/settlement (gain)


 
(23.1
)

 
(0.7
)
 
(2.3
)
 

 
(4.2
)
Net periodic (gain) benefit cost
$
(3.2
)
$
(3.4
)
 
$
(27.5
)
$
(2.1
)
 
$
0.4

 
$
(1.0
)
 
$
0.1

 
$
(4.1
)
 
Assurant's qualified and non-qualified pension benefit plans were frozen on March 1, 2016. The Assurant Pension Plan's (the "Plan") funded status increased to $80.5 at March 31, 2017 from $77.0 (based on the fair value of the assets compared to the accumulated benefit obligation) at December 31, 2016. This equates to a 111% funded status at both March 31, 2017 and December 31, 2016. During the first three months of 2017, no cash was contributed to the Plan. Due to the Plan's current funded status, no additional cash is expected to be contributed to the Plan over the remainder of 2017.