EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of funded status of Employers Mutual's pension and postretirement benefit plans

The following table sets forth the funded status of Employers Mutual’s pension and postretirement benefit plans as of December 31, 2015 and 2014, based upon measurement dates of December 31, 2015 and 2014, respectively.

	Pension plans						Postretirement benefit plans
($ in thousands)	2015			2014			2015			2014
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	267,129		$	239,109		$	54,503		$	50,006
Service cost	13,962			12,863			1,411			1,260
Interest cost	9,311			9,664			2,148			2,254
Actuarial (gain) loss	(1,661		)	19,257			(5,895		)	3,516
Benefits paid	(18,837		)	(13,764		)	(2,185		)	(2,533		)
Plan amendments	—			—			1,467			—
Projected benefit obligation at end of year	269,904			267,129			51,449			54,503
Change in plan assets:
Fair value of plan assets at beginning of year	297,848			288,750			69,290			67,276
Actual return on plan assets	(591		)	15,029			(785		)	4,547
Employer contributions	4,811			7,833			—			—
Benefits paid	(18,837		)	(13,764		)	(2,185		)	(2,533		)
Fair value of plan assets at end of year	283,231			297,848			66,320			69,290
Funded status	$	13,327		$	30,719		$	14,871		$	14,787

Schedule of amounts recognized in consolidated balance sheet

Amounts recognized in the Company’s consolidated balance sheets:

	Pension plans						Postretirement benefit plans
($ in thousands)	2015			2014			2015		2014
Assets:
Prepaid pension and postretirement benefits	$	8,132		$	13,267		$	4,001	$	4,093
Liability:
Pension and postretirement benefits	(4,299		)	(4,162		)	—		—
Net amount recognized	$	3,833		$	9,105		$	4,001	$	4,093

Schedule of amounts recognized in consolidated balance sheets under the caption accumulated other comprehensive income

Amounts recognized in the Company’s consolidated balance sheets under the caption “accumulated other comprehensive income”, before deferred income taxes:

	Pension plans						Postretirement benefit plans
($ in thousands)	2015			2014			2015			2014
Net actuarial loss	$	(20,101	)	$	(15,097	)	$	(6,523	)	$	(7,258	)
Prior service (cost) credit	(15		)	(25		)	23,662			27,458
Net amount recognized	$	(20,116	)	$	(15,122	)	$	17,139		$	20,200

Schedule of amounts recognized in consolidated statements of comprehensive income

Amounts recognized in the Company’s consolidated statements of comprehensive income, before deferred income taxes:

	Pension plans						Postretirement benefit plans
($ in thousands)	2015			2014			2015			2014
Net actuarial gain (loss)	$	(5,004	)	$	(7,492	)	$	735		$	(431	)
Prior service (cost) credit	10			10			(3,796		)	(3,370		)
Net amount recognized	$	(4,994	)	$	(7,482	)	$	(3,061	)	$	(3,801	)

Schedule of projected benefit obligation, accumulated benefit obligation and fair value of plan assets

The following table sets forth the projected benefit obligation, accumulated benefit obligation and fair value of plan assets of Employers Mutual’s non-qualified pension plan.  The amounts related to the qualified pension plan are not included since the plan assets exceeded the accumulated benefit obligation.

	Year ended December 31,
($ in thousands)	2015		2014
Projected benefit obligation	$	13,505	$	13,057
Accumulated benefit obligation	12,405		12,121
Fair value of plan assets	—		—

Components of net periodic benefit cost

The components of net periodic benefit cost (income) for Employers Mutual’s pension and postretirement benefit plans is as follows:

	Year ended December 31,
($ in thousands)	2015			2014			2013
Pension plans:
Service cost	$	13,962		$	12,863		$	13,213
Interest cost	9,311			9,664			7,656
Expected return on plan assets	(20,298		)	(20,733		)	(17,150		)
Amortization of net actuarial loss	2,710			366			5,962
Amortization of prior service cost	31			31			50
Net periodic pension benefit cost	$	5,716		$	2,191		$	9,731
Postretirement benefit plans:
Service cost	$	1,411		$	1,260		$	6,300
Interest cost	2,148			2,254			6,172
Expected return on plan assets	(4,416		)	(4,396		)	(3,631		)
Amortization of net actuarial loss	1,745			1,651			3,694
Amortization of prior service credit	(11,466		)	(11,466		)	(2,491		)
Net periodic postretirement benefit cost (income)	$	(10,578	)	$	(10,697	)	$	10,044

Schedule of weighted-average assumptions used

The weighted-average assumptions used to measure the benefit obligations are as follows:

	Year ended December 31,
	2015		2014
Pension plans:
Discount rate	3.90	%	3.57	%
Rate of compensation increase:
Qualified pension plan	5.07	%	4.73	%
Non-qualified pension plan	5.56	%	4.68	%
Postretirement benefit plans:
Discount rate	4.42	%	4.04	%

The weighted-average assumptions used to measure the net periodic benefit costs are as follows:

	Year ended December 31,
	2015		2014		2013
Pension plans:
Discount rate	3.57	%	4.17	%	3.24	%
Expected long-term rate of return on plan assets	7.00	%	7.25	%	7.25	%
Rate of compensation increase:
Qualified pension plan	4.73	%	4.73	%	4.73	%
Non-qualified pension plan	4.68	%	4.68	%	4.68	%
Postretirement benefit plans:
Discount rate	4.04	%	4.71	%	4.03	%
Expected long-term rate of return on plan assets	6.50	%	6.75	%	6.50	%

Schedule of expected future benefit payments

The following benefit payments, which reflect expected future service, are expected to be paid from the plans over the next ten years:

($ in thousands)	Pension benefits		Postretirement benefits
2016	$	22,066	$	2,668
2017	22,967		2,852
2018	23,334		3,033
2019	24,293		3,147
2020	25,502		3,215
2021 - 2025	123,096		16,670

Employers Mutual VEBA Trust

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of fair value of plan assets

The fair values of the assets held in Employers Mutual’s VEBA trust are as follows:

December 31, 2015			Fair value measurements using
($ in thousands)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Money market fund	$	2,709	$	2,709	$	—	$	—
Emerging markets ETF	3,422		3,422		—		—
Mutual funds:
Equity	36,286		36,286		—		—
Tax-exempt fixed income	3,422		3,422		—		—
International equity	6,689		6,689		—		—
Life insurance contracts	13,792		—		—		13,792
Total benefit plan assets	$	66,320	$	52,528	$	—	$	13,792

December 31, 2014			Fair value measurements using
($ in thousands)	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Money market fund	$	4,644	$	4,644	$	—	$	—
Emerging markets ETF	4,187		4,187		—		—
Mutual funds:
Equity	36,451		36,451		—		—
Tax-exempt fixed income	3,425		3,425		—		—
International equity	7,175		7,175		—		—
Life insurance contracts	13,408		—		—		13,408
Total benefit plan assets	$	69,290	$	55,882	$	—	$	13,408

Reconciliation of assets measured at fair value using significant unobservable inputs

Presented below is a reconciliation of the assets measured at fair value using significant unobservable inputs (Level 3) for the years ended December 31, 2015 and 2014.

	Fair value measurements using significant unobservable (Level 3) inputs
	Life insurance contracts
($ in thousands)	2015		2014
Balance at beginning of year	$	13,408	$	13,227
Actual return on plan assets:
Increase in cash accumulation value of life insurance contracts	384		367
Gain on life insurance death benefit	—		89
Settlement of life insurance death benefit	—		(275		)
Balance at end of year	$	13,792	$	13,408

Employers Mutual Defined Benefit Retirement Plan

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of fair value of plan assets

fair value using the net asset value per share (or its equivalent) practical expedient, which are not classified in the fair value hierarchy. Presented below are the fair values of assets held in Employers Mutual's defined benefit retirement plan:

	December 31,
($ in thousands)	2015		2014
Pooled separate accounts:
U.S. stock funds	$	142,934	$	154,478
International stock funds	55,850		57,955
U.S. bond funds	62,160		63,443
Real estate fund	20,414		17,735
Short-term funds	1,873		4,237
Total benefit plan assets	$	283,231	$	297,848