Pension and Other Postretirement Benefits

The following tables summarize the components of net periodic benefit cost:



	Three months ended September 30,
	Webster Pension						Webster SERP				Other Benefits
(In thousands)	2013			2012			2013		2012		2013		2012
Net Periodic Benefit Cost Recognized in Net Income:
Service cost (benefits earned during the period)	$	10		$	7		$	—	$	—	$	—	$	—
Interest cost on benefit obligations	1,841			1,827			72		79		30		44
Expected return on plan assets	(2,779		)	(2,517		)	—		—		—		—
Amortization of prior service cost	—			—			—		—		18		18
Recognized net loss	1,590			1,525			32		18		7		26
Net periodic benefit cost recognized in net income	$	662		$	842		$	104	$	97	$	55	$	88



	Nine months ended September 30,
	Webster Pension						Webster SERP				Other Benefits
(In thousands)	2013			2012			2013		2012		2013		2012
Net Periodic Benefit Cost Recognized in Net Income:
Service cost (benefits earned during the period)	$	30		$	22		$	—	$	—	$	—	$	—
Interest cost on benefit obligations	5,524			5,480			217		237		90		132
Expected return on plan assets	(8,336		)	(7,551		)	—		—		—		—
Amortization of prior service cost	—			—			—		—		54		54
Recognized net loss	4,767			4,576			94		53		21		77
Net periodic benefit cost recognized in net income	$	1,985		$	2,527		$	311	$	290	$	165	$	263

The Webster Bank Pension Plan and the supplemental pension plans were frozen effective December 31, 2007. No additional benefits have been accrued since that time. Additional contributions to the Webster Bank Pension Plan will be made as deemed appropriate by management in conjunction with information provided by the Plan’s actuaries.

The Bank is also a sponsor of a multiple-employer plan, EIN/Pension Plan Number 13-5645888/333 (the "Fund”), administered by Pentegra for the benefit of eligible employees of a bank acquired by Webster. The Fund does not segregate the assets or liabilities of its participating employers in the ongoing administration of this plan. All benefit accruals were frozen as of September 1, 2004.

According to the Fund’s administrators, as of July 1, 2013, the date of the latest actuarial valuation, Webster’s portion of the plan was underfunded by $2.1 million. Webster made $60 thousand and $0.5 million and $0.4 million and $1.2 million in contributions for the three and nine months ended September 30, 2013 and 2012, respectively.