Retirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2017

Retirement Benefits [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 defined benefit pension and other postretirement benefits at December 31:

	Pension Plan						SERP						Other Benefits
(In thousands)	2017			2016			2017			2016			2017			2016
Change in benefit obligation:
Beginning balance	$	211,508		$	203,645		$	11,806		$	10,518		$	3,852		$	3,853
Service cost	50			45			—			—			—			—
Interest cost	7,314			8,441			375			389			92			125
Actuarial loss (gain)	18,396			6,108			1,037			1,023			(631		)	59
Benefits paid and administrative expenses	(7,950		)	(6,731		)	(122		)	(124		)	(219		)	(185		)
Ending balance (1)	229,318			211,508			13,096			11,806			3,094			3,852
Change in plan assets:
Beginning balance	192,922			161,369			—			—			—			—
Actual return on plan assets	31,253			18,284			—			—			—			—
Employer contributions	—			20,000			122			124			219			185
Benefits paid and administrative expenses	(7,950		)	(6,731		)	(122		)	(124		)	(219		)	(185		)
Ending balance	216,225			192,922			—			—			—			—
Funded status of the plan at year end (2)	$	(13,093	)	$	(18,586	)	$	(13,096	)	$	(11,806	)	$	(3,094	)	$	(3,852	)

Schedule of Net Periodic Benefit Cost Not yet Recognized

The components of AOCL related to the defined benefit pension and other postretirement benefits at December 31, 2017 and 2016 are summarized below:

	Pension Plan				SERP				Other Benefits
(In thousands)	2017		2016		2017		2016		2017			2016
Net actuarial loss (gain)	$	59,433	$	65,857	$	3,299	$	3,009	$	(16	)	$	616
Prior service cost	—		—		—		—		—			—
Total pre-tax amounts included in AOCL	59,433		65,857		3,299		3,009		(16		)	616
Deferred tax benefit	13,407		23,727		744		1,084		(3		)	222
Amounts included in accumulated AOCL, net of tax	$	46,026	$	42,130	$	2,555	$	1,925	$	(13	)	$	394

Schedule of Expected Benefit Payments

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

(In thousands)	Pension Plan		SERP		Other Benefits
2018	$	9,009	$	11,371	$	354
2019	8,630		130		342
2020	9,065		132		328
2021	9,792		132		311
2022	10,425		131		292
2023-2027	55,206		651		1,125

Summary of Net Periodic Benefit Cost

The components of the net periodic benefit cost (benefit) for the defined benefit pension and other postretirement benefits were as follows for the years ended December 31:

	Pension Plan									SERP						Other Benefits
(In thousands)	2017			2016			2015			2017		2016		2015		2017		2016		2015
Service cost	$	50		$	45		$	45		$	—	$	—	$	—	$	—	$	—	$	—
Interest cost on benefit obligations	7,314			8,441			8,008			375		389		345		92		125		123
Expected return on plan assets	(12,296		)	(11,461		)	(11,873		)	—		—		—		—		—		—
Amortization of prior service cost	—			—			—			—		—		—		—		14		73
Recognized net loss	5,864			6,665			5,724			748		426		390		—		35		47
Net periodic benefit cost (benefit)	$	932		$	3,690		$	1,904		$	1,123	$	815	$	735	$	92	$	174	$	243

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

Changes in funded status related to the defined benefit pension and other postretirement benefits and recognized as a component of OCI in the accompanying Consolidated Statements of Comprehensive Income as follows for the years ended December 31:

	Pension Plan									SERP									Other Benefits
(In thousands)	2017			2016			2015			2017			2016			2015			2017			2016			2015
Net (gain) loss	$	(561	)	$	(715	)	$	8,525		$	1,037		$	1,023		$	372		$	(631	)	$	60		$	(178	)
Amounts reclassified from AOCL	(5,864		)	(6,665		)	(5,724		)	(748		)	(426		)	(390		)	—			(35		)	(47		)
Amortization of prior service cost	—			—			—			—			—			—			—			(14		)	(73		)
Total (gain) loss recognized in OCI	$	(6,425	)	$	(7,380	)	$	2,801		$	289		$	597		$	(18	)	$	(631	)	$	11		$	(298	)

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,
	2017								2016
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Registered investment companies:
Exchange traded funds	$	37,848	$	—	$	—	$	37,848	$	31,526	$	—	$	—	$	31,526
Cash and cash equivalents	1,115		—		—		1,115		701		—		—		701
Common collective trust funds:
Fixed Income funds	—		107,430		—		107,430		—		96,429		—		96,429
Equity Funds	—		69,832		—		69,832		—		63,285		—		63,285
Insurance company investment contract	—		—		—		—		—		—		793		793
Total	$	38,963	$	177,262	$	—	$	216,225	$	32,227	$	159,714	$	793	$	192,734

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)	2017			2016
Beginning balance	$	793		$	934
Employer contributions	78			—
Unrealized gains relating to instruments still held at the reporting date	—			(10		)
Benefit payments, administrative expenses	(166		)	(131		)
Asset sales	(705		)	—
Ending balance	$	—		$	793

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 Pension Plan assets
	2018		2017		2016
Fixed income investments	55	%	50	%	51	%
Equity investments	45		50		49
Total	100	%	100	%	100	%

Schedule of Assumptions Used

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

	Pension Plan				SERP				Other Benefits
	2017		2016		2017		2016		2017		2016
Discount rate	3.50	%	4.01	%	3.30	%	3.63	%	3.00	%	3.27	%
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:

	Pension Plan						SERP						Other Benefits
	2017		2016		2015		2017		2016		2015		2017		2016		2015
Discount rate	4.01	%	4.20	%	3.85	%	3.63	%	3.75	%	3.50	%	3.27	%	3.35	%	3.15	%
Expected long-term return on assets	6.50	%	7.00	%	7.00	%	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		7.50	%	8.25	%	8.00	%

Schedule of Multiemployer Plans

The following table sets forth contributions and funding status of Webster Bank's portion of this plan:

(Dollars in thousands)			Contributions by Webster Bank for the year ended December 31,			Funded Status of the Plan at December 31,
Plan Name	Employer Identification Number	Plan Number	2017	2016	2015	2017	2016
Pentegra Defined Benefit Plan for Financial Institutions	13-5645888	333	$614	$690	$340	At least 80 percent	At least 80 percent