Company: WSBC
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000950170-25-030795
Chunk: 83

Company: WESBANCO INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 83
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        )

        (505
        )

        Total recognized in other comprehensive loss (income)
         
        $
        1,241

        $
        (9,461
        )
         
        $
        3,882

        Total recognized in net periodic pension cost and other comprehensive   income
         
        $
        (1,388
        )
         
        $
        (12,024
        )
         
        $
        (914
        )

        Weighted-average assumptions used to determine net periodic   pension cost:

        Discount rate

        5.04
        %

        5.23
        %

        3.03
        %

        Rate of compensation increase

        3.78
        %

        3.84
        %

        3.62
        %

        Expected long-term return on assets

        5.83
        %

        6.82
        %

        5.74
        %
       
      As permitted under ASC 715-30-35-13, the amortization of any prior service cost is determined using a straight-line amortization of the cost over the average remaining service period of employees expected to receive benefits under the Plan. The expected long-term rate of return for the Plan’s total assets is based on the expected return of each of the Plan asset categories, weighted based on the median of the target allocation for each class.Pension Plan Investment Policy and Strategy— The investment policy as established by the Pension and Post-Retirement Plan Committee, to be followed by the Trustee, which is Wesbanco’s Trust and Investment Services department, is to invest assets based on the target allocations shown in the table below. Assets are reallocated periodically by the Trustee based on the ranges set forth by the Committee to meet the target allocations. The investment policy is also subject to review periodically to determine if the policy should be changed. Plan assets are to be invested with the principal objective of maximizing long-term total return without exposing Plan assets to undue risk, taking into account the Plan’s funding needs and benefit obligations. Assets are to be invested in a balanced portfolio composed primarily of equities, fixed income, alternative asset funds and cash or cash equivalent money market investments.In 2021, the Committee adopted certain changes to the investment policy for the Defined Benefit Pension Plan that recognizes over time the return requirements and risk tolerance of the plan will change.  Based on an assessment of the long-term goals and desired risk levels, the Committee