EMPLOYEE RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2017

Retirement Benefits [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, 2017 and 2016, based upon measurement dates of December 31, 2017 and 2016, respectively.

	Pension plans						Postretirement benefit plans
($ in thousands)	2017			2016			2017			2016
Change in projected benefit obligation:
Benefit obligation at beginning of year	$	284,194		$	269,904		$	55,651		$	51,449
Service cost	15,135			14,432			1,362			1,273
Interest cost	11,190			10,161			2,281			2,215
Actuarial loss	12,577			5,361			3,278			357
Benefits paid	(14,852		)	(15,664		)	(2,455		)	(2,377		)
Medicare subsidy reimbursements	—			—			—			553
Plan amendments	—			—			(1,113		)	2,181
Projected benefit obligation at end of year	308,244			284,194			59,004			55,651
Change in plan assets:
Fair value of plan assets at beginning of year	300,915			283,231			67,809			66,320
Actual return on plan assets	54,255			23,081			10,304			3,866
Employer contributions	8,686			10,267			—			—
Benefits paid	(14,852		)	(15,664		)	(2,455		)	(2,377		)
Fair value of plan assets at end of year	349,004			300,915			75,658			67,809
Funded status	$	40,760		$	16,721		$	16,654		$	12,158

Schedule of amounts recognized in consolidated balance sheet

Amounts recognized in the Company’s consolidated balance sheets:

	Pension plans						Postretirement benefit plans
($ in thousands)	2017			2016			2017		2016
Assets:
Prepaid pension and postretirement benefits	$	16,327		$	9,065		$	4,356	$	3,249
Liability:
Pension and postretirement benefits	(4,185		)	(4,097		)	—		—
Net amount recognized	$	12,142		$	4,968		$	4,356	$	3,249

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)	2017			2016			2017			2016
Net actuarial loss	$	(11,598	)	$	(18,927	)	$	(4,950	)	$	(6,147	)
Prior service (cost) credit	—			(6		)	16,407			19,441
Net amount recognized	$	(11,598	)	$	(18,933	)	$	11,457		$	13,294

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)	2017		2016		2017			2016
Net actuarial gain (loss)	$	7,329	$	1,174	$	1,197		$	376
Prior service (cost) credit	6		9		(3,034		)	(4,221		)
Net amount recognized	$	7,335	$	1,183	$	(1,837	)	$	(3,845	)

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)	2017		2016
Projected benefit obligation	$	13,950	$	13,656
Accumulated benefit obligation	12,272		12,182
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)	2017			2016			2015
Pension plans:
Service cost	$	15,135		$	14,432		$	13,962
Interest cost	11,190			10,161			9,311
Expected return on plan assets	(20,765		)	(19,361		)	(20,298		)
Amortization of net actuarial loss	3,643			4,311			2,710
Amortization of prior service cost	20			31			31
Net periodic pension benefit cost	$	9,223		$	9,574		$	5,716
Postretirement benefit plans:
Service cost	$	1,362		$	1,273		$	1,411
Interest cost	2,281			2,215			2,148
Expected return on plan assets	(4,311		)	(4,224		)	(4,416		)
Amortization of net actuarial loss	1,371			1,494			1,745
Amortization of prior service credit	(11,154		)	(11,338		)	(11,466		)
Net periodic postretirement benefit income	$	(10,451	)	$	(10,580	)	$	(10,578	)

Schedule of weighted-average assumptions used

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

	Year ended December 31,
	2017		2016
Pension plans:
Discount rate	3.60	%	4.07	%
Rate of compensation increase:
Qualified pension plan	5.09	%	5.07	%
Non-qualified pension plan	4.45	%	4.53	%
Postretirement benefit plans:
Discount rate	3.63	%	4.21	%

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

	Year ended December 31,
	2017		2016		2015
Pension plans:
Discount rate	4.07	%	3.90	%	3.57	%
Expected long-term rate of return on plan assets	7.00	%	7.00	%	7.00	%
Rate of compensation increase:
Qualified pension plan	5.08	%	5.07	%	4.73	%
Non-qualified pension plan	4.47	%	4.56	%	4.68	%
Postretirement benefit plans:
Discount rate	4.21	%	4.42	%	4.04	%
Expected long-term rate of return on plan assets	6.50	%	6.50	%	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
2018	$	20,276	$	3,175
2019	22,628		3,383
2020	23,050		3,560
2021	19,841		3,636
2022	22,655		3,690
2023 - 2027	119,538		18,679

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, 2017			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	$	1,254	$	1,254	$	—	$	—
Emerging markets ETF	4,803		4,803		—		—
Mutual funds	54,180		54,180		—		—
Life insurance contracts	14,524		—		—		14,524
Cash	897		897		—		—
Total benefit plan assets	$	75,658	$	61,134	$	—	$	14,524

December 31, 2016			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	$	1,485	$	1,485	$	—	$	—
Emerging markets ETF	3,743		3,743		—		—
Mutual funds	47,916		47,916		—		—
Life insurance contracts	14,159		—		—		14,159
Cash	506		506		—		—
Total benefit plan assets	$	67,809	$	53,650	$	—	$	14,159

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, 2017 and 2016.

	Fair value measurements using significant unobservable (Level 3) inputs
	Life insurance contracts
($ in thousands)	2017		2016
Balance at beginning of year	$	14,159	$	13,792
Actual return on plan assets:
Increase in cash surrender value of life insurance contracts	365		367
Balance at end of year	$	14,524	$	14,159

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

In accordance with ASU 2015-07, a fair value hierarchy table is not included here since all of the Plan's investments are measured at 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)	2017		2016
Pooled separate accounts	$	349,004	$	300,915
Total benefit plan assets	$	349,004	$	300,915