TCF Bank 2006 Annual Report Download - page 84

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The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic
benefit cost during 2007 are as follows.
Postretirement
(In thousands) Pension Plan Plan Total
Transition obligation $ – $101 $ 101
Net loss 3,397 223 3,620
The following table sets forth the status of the Pension Plan and the Postretirement Plan at the dates indicated.
Pension Plan Postretirement Plan
Year Ended December 31, Year Ended December 31,
(In thousands) 2006 2005 2006 2005
Benefit obligation:
Accrued participant balance – vested $58,718 $56,436 N.A. N.A.
Accrued participant balance – unvested –3,038 N.A. N.A.
Subtotal 58,718 59,474 N.A. N.A.
Present value of future service and benefits (1,953) 2,602 N.A. N.A.
Total projected benefit obligation $56,765 $62,076 N.A. N.A.
Accumulated benefit obligation $56,765 $55,611 N.A. N.A.
Change in benefit obligation:
Benefit obligation at beginning of year $62,076 $55,214 $ 8,656 $ 9,675
Service cost – benefits earned during the year 1,421 5,303 26 35
Interest cost on projected benefit obligation 3,109 3,428 433 552
Plan amendments (6,479) – –(207)
Actuarial loss (gain) 3,370 1,678 1,341 (249)
Benefits paid (6,732) (3,547) (1,046) (1,150)
Projected benefit obligation at end of year 56,765 62,076 9,410 8,656
Change in fair value of plan assets:
Fair value of plan assets at beginning of year 61,950 58,561 – –
Actual return on plan assets 5,059 6,936 – –
Benefits paid (6,732) (3,547) (1,046) (1,150)
TCF contributions 4,000 – 1,046 1,150
Fair value of plan assets at end of year 64,277 61,950 – –
Funded status of plans:
Funded status at end of year 7,512 (126) (9,410) (8,656)
Unamortized transition obligation –– 605 706
Unamortized prior service cost –(421) – –
Actuarial net loss 16,410 23,626 3,566 2,344
Prepaid (accrued) benefit cost at end of year
(before application of SFAS 158) $23,922 $23,079 $(5,239) $(5,606)
Amounts recognized in Statement of Financial Condition
after the application of SFAS 158:
Prepaid (accrued) benefit cost at end of year $ 7,512 $23,079 $(9,410) $(5,606)
Amounts not yet recognized in net periodic benefit cost and
included in accumulated other comprehensive loss, before tax:
Transition obligation –– 605 –
Accumulated actuarial net loss 16,410 – 3,566 –
Accumulated other comprehensive loss (AOCL), before tax 16,410 – 4,171 –
Total prepaid (accrued) benefit cost and AOCL $23,922 $23,079 $(5,239) $(5,606)
N.A. Not Applicable.
64 TCF Financial Corporation and Subsidiaries