Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 113

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 113
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 %4.76 %SERP:Webster Bank Supplemental Defined Benefit Plan for Executive Officers5.31 %4.68 %Astoria Bank Excess Benefit and Supplemental Benefit Plans5.14 4.56 Astoria Bank Directors’ Retirement Plan5.04 4.50 Retirement Plan of the Greater New York Savings Bank for Non-Employee Directors5.03 4.50 Supplemental Executive Retirement Plan of Provident Bank5.32 4.83 Supplemental Executive Retirement Plan of Provident Bank - Other5.09 4.71 OPEB:Webster Bank Postretirement Medical Benefit Plan5.01 %4.54 %Sterling Bancorp Supplemental Postretirement Life Insurance Plan5.20 4.51 Astoria Bank Postretirement Welfare Benefit Plans5.39 4.74 Split Dollar Life Insurance Arrangement (1)n/a4.45 (1)The year end discount rate at December 31, 2024, is not applicable due to plan cessation during the year.The following table summarizes the amounts recorded in accumulated other comprehensive (loss) income that have not yet been recognized in net periodic benefit (income) cost at December 31:  PensionSERPOPEB(In thousands)202420232024202320242023Net actuarial loss (gain)$34,440 $41,296 $(44)$312 $(1,788)$(3,231)Deferred tax (benefit) expense(6,488)(11,201)8 (85)337 876 Net amount recorded in (AOCL)$27,952 $30,095 $(36)$227 $(1,451)$(2,355)The following table summarizes the components of net periodic benefit (income) cost for the years ended December 31:PensionSERPOPEB(In thousands)202420232022202420232022202420232022Service cost $— $— $— $— $— $— $17 $27 $34 Interest cost8,648 8,782 5,565 178 191 107 956 1,042 652 Expected return on plan assets(12,709)(11,778)(14,675)— — — — — — Amortization of actuarial loss (gain)2,871