Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Benefit Plans

Defined Benefit Pension Plans and Other Postretirement Benefit Plan

							Other Postretirement
	Pension Benefits						Benefits
	At or For the Year Ended						At or For the Year Ended
	December 31,						December 31,
(In Thousands)	2013			2012			2013			2012
Change in benefit obligation:
Benefit obligation at beginning of year	$	260,108		$	274,874		$	35,476		$	32,515
Service cost	-			2,025			1,578			1,061
Interest cost	9,549			10,992			1,279			1,378
Actuarial (gain) loss	(28,749		)	19,535			(18,572		)	1,454
Amendments	-			5,473			-			-
Settlements	-			(14,560		)	-			-
Curtailments	-			(28,192		)	-			-
Benefits paid	(10,547		)	(10,039		)	(995		)	(932		)
Benefit obligation at end of year	230,361			260,108			18,766			35,476
Change in plan assets:
Fair value of plan assets at beginning of year	160,683			134,495			-			-
Actual return on plan assets	33,583			16,593			-			-
Employer contribution	5,648			34,194			995			932
Settlements	-			(14,560		)	-			-
Benefits paid	(10,547		)	(10,039		)	(995		)	(932		)
Fair value of plan assets at end of year	189,367			160,683			-			-
Funded status at end of year	$	(40,994	)	$	(99,425	)	$	(18,766	)	$	(35,476	)

Pre-Tax Components of Accumulated Other Comprehensive Loss Related to Pension Plans and Other Postretirement Benefits

	Pension Benefits				Other PostretirementBenefits
	At December 31,				At December 31,
(In Thousands)	2013		2012		2013			2012
Net actuarial loss (gain)	$	57,327	$	110,043	$	(8,089	)	$	10,955
Prior service cost	5,140		5,353		-			-
Total accumulated other comprehensive loss (income)	$	62,467	$	115,396	$	(8,089	)	$	10,955

Discount Rates used to Determine Benefit Obligations

	2013		2012
Pension Benefit Plans:
Astoria Federal Pension Plan	4.66	%	3.77	%
Astoria Federal Excess and Supplemental Benefit Plans	4.39		3.49
Astoria Federal Directors’ Retirement Plan	4.23		3.21
Greater Directors’ Retirement Plan	3.64		2.77
LIB Directors’ Retirement Plan	0.50		0.63
Other Postretirement Benefit Plan:
Astoria Federal Retiree Health Care Plan	4.80		3.98

Components of Net Periodic Cost for Defined Benefit Pension Plans and Other Postretirement Benefit Plan

	Pension Benefits									Other Postretirement Benefits
	For the Year Ended December 31,									For the Year Ended December 31,
(In Thousands)	2013			2012			2011			2013		2012			2011
Service cost	$	-		$	2,025		$	4,642		$	1,578	$	1,061		$	529
Interest cost	9,549			10,992			12,212			1,279		1,378			1,360
Expected return on plan assets	(12,754		)	(11,947		)	(10,648		)	-		-			-
Recognized net actuarial loss	3,138			4,930			8,445			472		517			147
Amortization of prior service cost (credit)	213			177			191			-		(25		)	(99		)
Settlement	-			2,302			-			-		-			-
Net periodic cost	$	146		$	8,479		$	14,842		$	3,329	$	2,931		$	1,937

Assumptions used to Determine Net Periodic Cost

	Discount Rate				Expected Return on Plan Assets
	2013		2012		2013		2012
Pension Benefit Plans:
Astoria Federal Pension Plan	3.77	%	4.44	%	8.00	%	8.00	%
Astoria Federal Excess and Supplemental Benefit Plans	3.49		3.99		N/A		N/A
Astoria Federal Directors’ Retirement Plan	3.21		3.97		N/A		N/A
Greater Directors’ Retirement Plan	2.77		3.78		N/A		N/A
LIB Directors’ Retirement Plan	0.63		1.74		N/A		N/A
Other Postretirement Benefit Plan:
Astoria Federal Retiree Health Care Plan	3.98		4.50		N/A		N/A

Assumed Health Care Cost Trend Rates

	At December 31,
	2013		2012
Health care cost trend rate assumed for the next year:
Pre-age 65	7.00	%	7.50	%
Post-age 65	10.00	%	7.50	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2021		2018

Effect of One-Percentage Point Change in Assumed Health Care Cost Trend Rates

(In Thousands)	One Percentage  Point Increase		One Percentage  Point Decrease
Effect on total service and interest cost components	$	639	$	(488	)
Effect on the postretirement benefit obligation	3,008		(2,360		)

Total Benefits Expected to be Paid under Defined Benefit Pension Plans and Other Postretirement Benefit Plan

Year	Pension Benefits		Other Postretirement Benefits
	(In Thousands)
2014	$	11,615	$	857
2015	11,649		885
2016	15,103		916
2017	13,490		951
2018	12,975		989
2019-2023	68,942		5,219

Astoria Federal | Pension Benefits

Benefit Plans

Asset Allocations by Asset Category and Fair Value Hierarchy Level for Astoria Federal Pension Plan

	Carrying Value at December 31, 2013
(In Thousands)	Total		Level 1		Level 2		Level 3
PRIAC Pooled Separate Accounts (1)	$	170,377	$	-	$	170,377	$	-
Astoria Financial Corporation common stock	12,687		12,687		-		-
PRIAC Guaranteed Deposit Account	6,299		-		-		6,299
Cash and cash equivalents	4		4		-		-
Total	$	189,367	$	12,691	$	170,377	$	6,299

(1) Consists of 41% large-cap equity securities, 35% debt securities, 11% international equities, 8% small-cap equity securities and 5% mid-cap equity securities.

	Carrying Value at December 31, 2012
(In Thousands)	Total		Level 1		Level 2		Level 3
PRIAC Pooled Separate Accounts (1)	$	145,037	$	-	$	145,037	$	-
Astoria Financial Corporation common stock	8,466		8,466		-		-
PRIAC Guaranteed Deposit Account	7,177		-		-		7,177
Cash and cash equivalents	3		3		-		-
Total	$	160,683	$	8,469	$	145,037	$	7,177

(1) Consists of 39% large-cap equity securities, 35% debt securities, 12% international equities, 8% small-cap equity securities and 6% mid-cap equity securities.

Changes in Fair Value of Astoria Federal Pension Plan's Level 3 Assets

	For the Year Ended December 31,
(In Thousands)	2013			2012
Fair value at beginning of year	$	7,177		$	6,564
Total net gain, realized and unrealized, included in change in net assets (1)	21			455
Purchases	9,000			9,640
Sales	(9,899		)	(9,482		)
Fair value at end of year	$	6,299		$	7,177

(1) Includes unrealized gain related to assets held at December 31, 2013 of $313,000 for the year ended December 31, 2013 and unrealized gain related to assets held at December 31, 2012 of $517,000 for the year ended December 31, 2012.