Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 112

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 112
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retirement benefit plans at December 31:  PensionSERPOPEB(In thousands)202420232024202320242023Change in benefit obligation:Beginning balance$189,986 $187,836 $4,139 $4,245 $22,669 $22,822 Service cost— — — — 17 27 Interest cost8,648 8,782 178 191 956 1,042 Actuarial (gain) loss (1)(13,588)3,333 (260)183 3,637 (382)Benefits paid(10,934)(9,965)(459)(480)(13,612)(840)Ending balance174,112 189,986 3,598 4,139 13,667 22,669 Change in plan assets:Beginning balance217,167 201,382 — — — — Actual return on plan assets (2)3,106 25,750 — — — — Employer contributions— — 459 480 13,612 840 Benefits paid(10,934)(9,965)(459)(480)(13,612)(840)Ending balance209,339 217,167 — — — — Funded status (3)$35,227 $27,181 $(3,598)$(4,139)$(13,667)$(22,669)(1)The change in actuarial (gain) loss is primarily due to actuarial gains in 2024 resulting from an increase in discount rates, as compared to actuarial losses in 2023 resulting from a decrease in discount rates.(2)The decrease in actual return on plan assets for the Pension Plan is primarily due to the performance of fixed income investments, which comprise approximately 65% of the portfolio. In 2024, fixed income investments earned a negative return, as compared to a positive return in 2023.(3)The overfunded (underfunded) status of each plan is respectively included in Accrued interest receivable and other assets or Accrued expenses and other liabilities on the accompanying Consolidated Balance Sheets, as applicable.

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The following table summarizes the weighted-average assumptions used to determine the benefit obligation at December 31:  Discount Rate  20242023Pension:Webster Bank Pension Plan5.43