Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures

The following table sets forth changes in benefit obligation, changes in plan assets, and the funded status of the pension plans and other postretirement benefit plans at December 31:

	Webster Pension						Webster SERP						Other Benefits
(In thousands)	2015			2014			2015			2014			2015			2014
Change in benefit obligation:
Beginning balance	$	210,548		$	171,189		$	10,041		$	8,675		$	4,133		$	3,821
Service cost	45			40			—			—			—			—
Interest cost	8,008			8,068			345			364			123			139
Actuarial (gain) loss	(8,588		)	38,472			373			1,145			(178		)	470
Benefits paid and administrative expenses	(6,368		)	(7,221		)	(241		)	(143		)	(225		)	(297		)
Ending balance	203,645			210,548			10,518			10,041			3,853			4,133
Change in plan assets:
Beginning balance	172,976			162,182			—			—			—			—
Actual return on plan assets	(5,239		)	18,015			—			—			—			—
Employer contributions	—			—			241			143			225			297
Benefits paid and administrative expenses	(6,368		)	(7,221		)	(241		)	(143		)	(225		)	(297		)
Ending balance	161,369			172,976			—			—			—			—
Funded status of the plan at year end	$	(42,276	)	$	(37,572	)	$	(10,518	)	$	(10,041	)	$	(3,853	)	$	(4,133	)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the statement of financial position consist of the following:

	2015									2014
(In thousands)	Webster Pension			Webster SERP			Other Benefits			Webster Pension			Webster SERP			Other Benefits
Accrued expenses and other liabilities	$	(42,276	)	$	(10,518	)	$	(3,853	)	$	(37,572	)	$	(10,041	)	$	(4,133	)

Schedule of Net Periodic Benefit Cost Not yet Recognized

Webster expects that $7.2 million in net actuarial loss and $14 thousand in prior service cost will be recognized as components of net periodic benefit cost in 2016. The components of accumulated other comprehensive loss related to pensions and other postretirement benefits at December 31, 2015 and 2014 are summarized below:

	2015						2014
(In thousands)	Webster Pension		Webster SERP		Other Benefits		Webster Pension		Webster SERP		Other Benefits
Net actuarial loss	$	73,238	$	2,412	$	591	$	70,437	$	2,430	$	816
Prior service cost	—		—		14		—		—		87
Total pre-tax amounts included in accumulated other comprehensive loss	$	73,238	$	2,412	$	605	$	70,437	$	2,430	$	903
Deferred tax benefit	26,447		871		218		25,415		877		326
Amounts included in accumulated other comprehensive loss, net of tax	$	46,791	$	1,541	$	387	$	45,022	$	1,553	$	577

Schedule of Expected Benefit Payments

Expected future benefit payments for the pension plans and other postretirement benefit plans are presented below:

(In thousands)	Webster  Pension		Webster SERP		Other Benefits
2016	$	7,034	$	4,015	$	391
2017	7,785		928		388
2018	8,425		801		380
2019	8,728		5,597		367
2020	9,050		142		349
2021-2025	52,144		679		1,441

Summary of Net Periodic Benefit Cost

The components of the net periodic benefit cost (benefit) for the Company’s defined benefit pension plans were as follows:

	Years ended December 31,
	2015			2014			2013			2015		2014		2013		2015		2014		2013
(In thousands)	Webster Pension									Webster SERP						Other Postretirement Benefits
Service cost	$	45		$	40		$	40		$	—	$	—	$	—	$	—	$	—	$	—
Interest cost on benefit obligations	8,008			8,068			7,365			345		364		289		123		139		109
Expected return on plan assets	(11,873		)	(11,495		)	(11,114		)	—		—		—		—		—		—
Amortization of prior service cost	—			—			—			—		—		—		73		73		73
Recognized net loss	5,724			2,781			6,355			390		135		125		47		5		—
Net periodic benefit cost (benefit)	$	1,904		$	(606	)	$	2,646		$	735	$	499	$	414	$	243	$	217	$	182

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Changes in funded status related to the Company’s defined benefit pension plans recognized as a component of other comprehensive income in the accompanying Consolidated Statements of Comprehensive Income were as follows:

	Years ended December 31,
	2015			2014			2013			2015			2014			2013			2015			2014			2013
(In thousands)	Webster Pension									Webster SERP									Other Postretirement Benefits
Net loss (gain)	$	8,525		$	31,951		$	(23,238	)	$	372		$	1,145		$	(160	)	$	(178	)	$	470		$	(239	)
Amounts reclassified from accumulated other comprehensive income	(5,724		)	(2,781		)	(6,355		)	(390		)	(134		)	(125		)	(47		)	(5		)	—
Amortization of prior service cost	—			—			—			—			—			—			(73		)	(73		)	(73		)
Total loss (gain) recognized in other comprehensive income (loss)	$	2,801		$	29,170		$	(29,593	)	$	(18	)	$	1,011		$	(285	)	$	(298	)	$	392		$	(312	)

Schedule of Changes in Fair Value of Plan Assets

A summary of the fair value and hierarchy classification of financial assets of the pension plan is as follows:

	At December 31,
	2015								2014
(In thousands)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Registered investment companies:
Exchange traded funds	$	28,329	$	28,329	$	—	$	—	$	28,287	$	28,287	$	—	$	—
Cash and cash equivalents	295		295		—		—		871		871		—		—
Common collective funds:
Fixed Income funds	80,783		—		80,783		—		94,928		—		94,928		—
Equity Funds	51,028		—		51,028		—		47,813		—		47,813		—
Insurance company investment contract	934		—		—		934		1,077		—		—		1,077
Total	$	161,369	$	28,624	$	131,811	$	934	$	172,976	$	29,158	$	142,741	$	1,077

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets

The following table sets forth a summary of changes in the fair value of Level 3 assets of the pension plan:

	Years ended December 31,
(In thousands)	2015			2014
Beginning balance	$	1,077		$	1,196
Unrealized gains relating to instruments still held at the reporting date	(28		)	(2		)
Benefit payments, administrative expenses, and interest income, net	(115		)	(117		)
Ending balance	$	934		$	1,077

Schedule of Allocation of Plan Assets

The following table presents the target allocation and the pension plan asset allocation for the periods indicated, by asset category:

	Target Allocation		Percentage of plan assets
	2016		2015		2014
Fixed income investments	50	%	51	%	56	%
Equity investments	50		49		44
Total	100	%	100	%	100	%

Schedule of Assumptions Used

Weighted-average assumptions used to determine benefit obligations at December 31 are as follows:

	Webster Pension				Webster SERP				Other Benefits
	2015		2014		2015		2014		2015		2014
Discount rate	4.20	%	3.85	%	3.75	%	3.50	%	3.35	%	3.15	%
Rate of compensation increase	n/a		n/a		n/a		n/a		n/a		n/a

Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 are as follows:

	Webster Pension						Webster SERP						Other Benefits
	2015		2014		2013		2015		2014		2013		2015		2014		2013
Discount rate	3.85	%	4.80	%	3.90	%	3.50	%	4.25	%	3.40	%	3.15	%	3.75	%	2.85	%
Expected long-term return on assets	7.00	%	7.25	%	7.50	%	n/a		n/a		n/a		n/a		n/a		n/a
Rate of compensation increase	n/a		n/a		n/a		n/a		n/a		n/a		n/a		n/a		n/a
Assumed healthcare cost trend	n/a		n/a		n/a		n/a		n/a		n/a		8.0	%	8.0	%	8.0	%

Schedule of Multiemployer Plans

The following table sets forth contributions and funding status of the Fund:

(In thousands)	Contributions by Webster Bank period ended December 31,			Funded Status of Plan
EIN/Pension Plan Number	2015	2014	2013	2015	2014
13-5645888/333	$340	$765	$870	At least 80 percent	At least 80 percent