TCF Bank 2014 Annual Report Download - page 96

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The following table sets forth the changes recognized in accumulated other comprehensive loss that are attributed to the
Postretirement Plan.
Postretirement Plan
Year Ended December 31,
(In thousands) 2014 2013 2012
Accumulated other comprehensive loss at the beginning of the year $(378) $(424) $(301)
Prior service cost –– (151)
Amortization (recognized in net periodic benefit cost):
Prior service credit 47 46 28
Total recognized in other comprehensive income (loss) 47 46 (123)
Accumulated other comprehensive loss at end of year, before tax $(331) $(378) $(424)
The Pension Plan does not have any accumulated other comprehensive loss.
The measurement dates used for determining the Pension Plan and the Postretirement Plan projected and accumulated benefit
obligations and the dates used to value plan assets were December 31, 2014 and 2013. The discount rates used to measure the
benefit obligation of the Pension Plan and the Postretirement Plan were 3.25% and 4.0% for the years ended December 31,
2014 and 2013, respectively.
The following tables set forth the net periodic benefit plan (income) cost included in compensation and employee benefits
expense for the Pension Plan and the Postretirement Plan.
Pension Plan
Year Ended December 31,
(In thousands) 2014 2013 2012
Interest cost $1,587 $ 1,292 $1,763
Loss on plan assets 511 336 277
Recognized actuarial (gain) loss 1,862 (2,196) 289
Net periodic benefit plan (income) cost $3,960 $ (568) $2,329
Postretirement Plan
Year Ended December 31,
(In thousands) 2014 2013 2012
Interest cost $198 $ 174 $ 293
Recognized actuarial (gain) loss (63) (1,241) (721)
Amortization of prior service cost (47) (46) (28)
Net periodic benefit plan (income) cost $88 $(1,113) $(456)
Pension Plan actual return on plan assets, net of administrative expenses was a loss of 1.0% for the year ended December 31,
2014 and a loss of 0.6% for the year ended December 31, 2013. The expected actuarial return on plan assets was a gain of
$0.7 million and the actual loss on plan assets was $0.5 million and increased net periodic benefit cost for the year ended
December 31, 2014. The expected actuarial return on plan assets was a gain of $0.8 million and the actual loss on plan assets
was $0.3 million and increased net periodic benefit cost for the year ended December 31, 2013.
The discount rate and expected long-term rate of return on plan assets used to determine the estimated net benefit plan cost
were as follows.
Pension Plan Postretirement Plan
Assumptions used to determine estimated net Year Ended December 31, Year Ended December 31,
benefit plan cost 2014 2013 2012 2014 2013 2012
Discount rate 4.00% 3.00% 4.00% 4.00% 2.75% 4.00%
Expected long-term rate of return on plan assets 1.50 1.50 1.50 N.A. N.A. N.A.
N.A. Not Applicable.
Prior service credits of TCF’s Postretirement Plan totaling $46 thousand are included within accumulated other comprehensive
loss at December 31, 2014 and are expected to be recognized as components of net periodic benefit cost during 2015.
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