9. Retirement Plans

The Company has a qualified defined benefit pension plan covering all eligible employees. Eligibility is based on minimum age and service-related requirements as well as job classification. Accrued benefits under a nonqualified plan covering certain legacy Whitney employees were frozen as of December 31, 2012 and no future benefits will be accrued under this plan.

The Company also sponsors defined benefit postretirement plans for both legacy Hancock and legacy Whitney employees that provide health care and life insurance benefits. Benefits under the Hancock plan are not available to employees hired on or after January 1, 2000. Benefits under the Whitney plan are restricted to retirees who were already receiving benefits at the time of plan amendments in 2007 or active participants who were eligible to receive benefits as of December 31, 2007.

The following table shows the components of net periodic benefits cost included in expense for the plans.


							Other Post-
	Pension Benefits						retirement Benefits
	Three Months Ended March 31,
	2014			2013			2014		2013
	(In thousands)
Service cost	$	3,425		$	3,929		$	37	$	55
Interest cost		4,809			3,944			338		330
Expected return on plan assets		(8,061	)		(6,263	)		—		—
Amortization of prior service cost		—			—			—		—
Amortization of net loss		8			1,745			157		38
Amortization of transition obligation					—					—

Net periodic benefit cost	$	181		$	3,355		$	532	$	423

Based on currently available information, Hancock does not anticipate making a contribution to the pension plan during 2014.

The Company also provides a defined contribution retirement benefit plan (401(k) plan). Under the plan, the Company matches 100% of the first 1% of compensation saved by a participant, and 50% of the next 5% of compensation saved.