XML 114 R38.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2013
Employee Benefit Plans [Abstract]  
Reconciliation of Changes in Plan's Benefit Obligations and Fair Value of Assets

 

 

 

 

 

 

 

 

 

 

(In thousands)

2013

2012

Reconciliation of benefit obligation

 

 

 

 

Benefit obligation at beginning of year

$

10,801 

$

9,240 

Service cost including expenses

 

53 

 

48 

Interest cost

 

418 

 

478 

Actuarial (gain) loss

 

(1,117)

 

1,559 

Benefits paid and expected expenses

 

(544)

 

(524)

Benefit obligation at year-end

$

9,611 

$

10,801 

Reconciliation of fair value of plan assets

 

 

 

 

Fair value of plan assets at beginning of year

$

14,412 

$

8,806 

Actual return on plan assets

 

1,569 

 

1,132 

Employer contributions

 

 

5,000 

Benefits paid and actual expenses

 

(535)

 

(526)

Fair value of plan assets at year-end

$

15,446 

$

14,412 

Funded status at year end

$

5,835 

$

3,611 

 

Net Periodic Benefit Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

2013

 

2012

 

2011

Interest cost

$

418 

$

478 

$

473 

Expected return on plan assets

 

(988)

 

(600)

 

(642)

Service costs

 

53 

 

48 

 

50 

Net loss amortization

 

355 

 

326 

 

252 

Net periodic pension (benefit) cost

$

(162)

$

252 

$

133 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

2013

 

2012

 

2011

Net loss (gain) 

$

(1,707)

$

1,016 

$

861 

Net loss amortization

 

(355)

 

(326)

 

(252)

Total recognized in other comprehensive (income) loss

$

(2,062)

$

690 

$

609 

Total recognized in net periodic pension cost (income) and            

 

 

 

 

 

 

and other comprehensive (income) loss

$

(2,224)

$

942 

$

742 

 

Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

2012

2011

Benefit obligations

 

 

 

 

 

 

 

Discount rate

 

4.98 

%

3.98 

%

5.24 

%

Net periodic benefit cost

 

 

 

 

 

 

 

Discount rate

 

3.98 

%

5.24 

%

5.26 

%

Expected long-term return on plan assets

 

7.00 

%

7.00 

%

7.00 

%

 

Fair Value of Pension Plan Assets by Asset Category

 

The fair value of Pension Plan assets at December 31, 2013 by asset category are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using:

(In thousands)

 

 

Quoted Prices in Active Markets for Identical Assets

Significant Other Observable Inputs

Significant Unobservable Inputs

Description

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

Cash

$

31 

$

31 

$

$

Money Market Funds

 

434 

 

434 

 

 

Equity Securities:

 

 

 

 

 

 

 

 

Large Cap Equity Mutual Funds

 

3,630 

 

3,630 

 

 

Small Cap Equity Mutual Funds

 

140 

 

140 

 

 

Domestic Equities

 

256 

 

256 

 

 

Global Equity Mutual Funds

 

939 

 

939 

 

 

International Equity Mutual Funds

 

2,712 

 

2,712 

 

 

Absolute Return Funds

 

722 

 

722 

 

 

Fixed Income:

 

 

 

 

 

 

 

 

International Bond Mutual Funds

 

559 

 

559 

 

 

Taxable Bond Mutual Funds

 

6,023 

 

6,023 

 

 

Total

$

15,446 

$

15,446 

$

$

 

 

The fair value of Pension Plan assets at December 31, 2012 by asset category are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using:

(In thousands)

 

 

Quoted Prices in Active Markets for Identical Assets

Significant Other Observable Inputs

Significant Unobservable Inputs

Description

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

Cash

$

$

$

$

Money Market Funds

 

5,301 

 

5,301 

 

 

Equity Securities:

 

 

 

 

 

 

 

 

Large Cap Equity Mutual Funds

 

2,104 

 

2,104 

 

 

Small Cap Equity Mutual Funds

 

75 

 

75 

 

 

Domestic Equities

 

205 

 

205 

 

 

Global Equity Mutual Funds

 

577 

 

577 

 

 

International Equity Mutual Funds

 

1,651 

 

1,651 

 

 

Absolute Return Funds

 

446 

 

446 

 

 

Fixed Income:

 

 

 

 

 

 

 

 

International Bond Mutual Funds

 

364 

 

364 

 

 

Taxable Bond Mutual Funds

 

3,689 

 

3,689 

 

 

Total

$

14,412 

$

14,412 

$

$

 

Estimated Future Benefit Payments Expected to be Paid Under the Plan

 

 

 

 

 

 

 

 

Pension

(In thousands)

 

Benefits

2014

$

543 

2015

 

557 

2016

 

576 

2017

 

617 

2018

 

660 

Years 2019 to 2023

$

3,414 

 

Summary of Expense Relating to Various Employee Benefit Plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

2013

2012

2011

Pension plan

$

(162)

$

252 

$

133 

401(k)

 

565 

 

590 

 

622 

Total

$

403 

$

842 

$

755