Benefit Plans

3 Months Ended

Mar. 31, 2012

Compensation and Retirement Disclosure [Abstract]

Benefit Plans

Benefit Plans

The Corporation sponsors several qualified and nonqualified pension and other postretirement plans for certain of its employees. The net periodic pension cost is based on estimated values provided by an outside actuary. The components of net periodic benefit cost are as follows:

	Pension Benefits
	Quarter ended March 31,
	2012			2011
Components of Net Periodic Pension Cost
Service Cost	$	1,799		$	1,531
Interest Cost	2,965			2,860
Expected return on assets	(3,034		)	(3,328		)
Amortization of unrecognized prior service costs	97			98
Cumulative net loss	2,593			1,780
Net periodic pension cost	$	4,420		$	2,941

	Postretirement Benefits
	Quarter ended March 31,
	2012			2011
Components of Net Periodic Postretirement Cost
Service Cost	$	19		$	14
Interest Cost	174			221
Amortization of unrecognized prior service costs	(117		)	—
Cumulative net loss	72			28
Net periodic postretirement cost	$	148		$	263

Management anticipates contributing $10.0 million to the qualified pension plan in 2012.

The Corporation also maintains a savings plan under Section 401(k) of the Internal Revenue Code of 1986, as amended, covering substantially all full-time and part-time employees beginning in the quarter following three months of continuous employment. The savings plan was approved for non-vested employees in the defined benefit pension plan and new hires as of January 1, 2007. Effective January 1, 2009, the Corporation suspended its matching contribution to the savings plan. Effective April 1, 2011, the Corporation reinstated its matching contribution to $.50 for each $1.00 up to 1% of an employee’s qualifying salary. Matching contributions vest in accordance with plan specifications.