Defined Benefit and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2012

Defined Benefit and Other Postretirement Benefits [Abstract]

Defined Benefit and Other Postretirement Benefits

Note 10 – Defined Benefit and Other Postretirement Benefits

Capital Accumulation Plan

Trustmark maintains a noncontributory defined benefit pension plan (Trustmark Capital Accumulation Plan), which covers substantially all associates employed prior to January 1, 2007.  The plan provides retirement benefits that are based on the length of credited service and final average compensation, as defined in the plan and vest upon three years of service.  In an effort to control expenses, the Board voted to freeze plan benefits effective during 2009, with the exception of certain associates covered through plans obtained by acquisitions.  Individuals will not earn additional benefits, except for interest as required by the IRS regulations, after the effective date.  Associates will retain their previously earned pension benefits.

The following table presents information regarding the plan's net periodic benefit cost for the periods presented ($ in thousands):

	Three Months Ended March 31,
	2012			2011
Net periodic benefit cost
Service cost	$	140		$	137
Interest cost		945			1,115
Expected return on plan assets		(1,400	)		(1,471	)
Recognized net actuarial loss		1,309			1,037
Net periodic benefit cost	$	994		$	818

The acceptable range of contributions to the plan is determined each year by the plan's actuary.  Trustmark's policy is to fund amounts allowable for federal income tax purposes.  The actual amount of the contribution is determined based on the plan's funded status and return on plan assets as of the measurement date, which is December 31.  For 2012, Trustmark's minimum required contribution is expected to be $3.0 million.  During 2011, Trustmark made a contribution of $1.0 million for the 2011 plan year.

Supplemental Retirement Plan

Trustmark maintains a nonqualified supplemental retirement plan covering directors who elected to defer fees, key executive officers and senior officers.  The plan provides for defined death benefits and/or retirement benefits based on a participant's covered salary.  Trustmark has acquired life insurance contracts on the participants covered under the plan, which may be used to fund future payments under the plan.  The measurement date for the plan is December 31.  The following table presents information regarding the plan's net periodic benefit cost for the periods presented ($ in thousands):

	Three months ended March 31,
	2012		2011
Net periodic benefit cost
Service cost	$	170	$	147
Interest cost		517		569
Amortization of prior service cost		62		59
Recognized net actuarial loss		215		124
Net periodic benefit cost	$	964	$	899