v2.4.0.8
EMPLOYEE BENEFITS (Annual Periodic Expense and Actuarial Assumptions) (Details) (USD $)
|
12 Months Ended |
|
|
|
Pension Plans
|
|
|
|
Defined Benefit Plan Disclosure |
|
|
|
Service cost |
$ 0 |
$ 0 |
$ 0 |
Interest cost |
1,329,000 |
1,554,000 |
1,836,000 |
Expected return on plan assets |
(1,912,000) |
(1,744,000) |
(2,014,000) |
Recognized actuarial loss |
979,000 |
979,000 |
651,000 |
Total net periodic expense |
396,000 |
789,000 |
473,000 |
Assumptions used to determine net periodic expense: |
|
|
|
Discount rate (as a percent) |
2.98% |
3.58% |
4.50% |
Expected return on plan assets (as a percent) |
7.00% |
7.00% |
7.00% |
Assumptions used to determine benefit obligations: |
|
|
|
Discount rate (as a percent) |
3.79% |
2.98% |
3.58% |
Amount of amortization included in net periodic expense in the next fiscal year from the accumulated actuarial loss included in accumulated other comprehensive income |
700,000 |
|
|
Postretirement Benefits Plan
|
|
|
|
Defined Benefit Plan Disclosure |
|
|
|
Service cost |
1,094,000 |
1,131,000 |
825,000 |
Interest cost |
603,000 |
547,000 |
529,000 |
Expected return on plan assets |
0 |
0 |
0 |
Recognized actuarial loss |
395,000 |
194,000 |
0 |
Total net periodic expense |
2,092,000 |
1,872,000 |
1,354,000 |
Assumptions used to determine net periodic expense: |
|
|
|
Discount rate (as a percent) |
3.68% |
4.14% |
5.15% |
Assumptions used to determine benefit obligations: |
|
|
|
Discount rate (as a percent) |
4.48% |
3.68% |
4.14% |
Amount of amortization included in net periodic expense in the next fiscal year from the accumulated actuarial loss included in accumulated other comprehensive income |
100,000 |
|
|
Health care cost trend rate for next year and thereafter (as a percent) |
5.50% |
|
|
Effect of 1% increase on service and interest cost components |
439,000 |
|
|
Effect of 1% decrease on service and interest cost components |
(328,000) |
|
|
Effect of 1% increase on postretirement benefit obligation |
2,983,000 |
|
|
Effect of 1% decrease on postretirement benefit obligation |
$ (2,326,000) |
|
|
X |
- Definition
The amount of gains or losses recognized in net periodic benefit cost.
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The interest rate used to adjust for the time value of money for the plan.
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The interest rate used to adjust for the time value of money.
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- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 30
-Glossary Expected Long-Term Rate of Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512013
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (k)(3)
-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920
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Amount of effect of a one-percentage-point decrease in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits.
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Amount of effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs.
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The effect of a one-percentage-point increase in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits.
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An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 30
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512136
Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512171
Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=28361610&loc=d3e1928-114920
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Amount included in accumulated other comprehensive income (AOCI) related to gain (loss) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position.
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The assumed health care cost trend rate for the next year used to measure the expected cost of benefits covered by the plan (gross eligible charges). This is based upon the annual rate of change in the cost of health care benefits currently provided by the postretirement benefit plan, due to factors other than changes in the composition of the plan population by age and dependency status.
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The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time.
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The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments.
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The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan.
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