Company: WBS-PG
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000801337-25-000004
Chunk: 115

Company: WEBSTER FINANCIAL CORP
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 115
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 Welfare Benefit Plans6.50 6.40 6.60 (1)The rates to which the healthcare cost trend rates are assumed to decline (ultimate trend rates) along with the year that the ultimate trend rates will be reached for the Webster Bank Postretirement Medical Benefit Plan and the Astoria Bank Postretirement Welfare Benefit Plans are 4.40% in 2033, and 4.40% in 2034, respectively.The discount rates used to determine the benefit obligation and net periodic benefit (income) cost for the Company’s defined benefit pension and other postretirement benefit plans were generally selected by reference to a high-quality bond yield curve, using a full yield curve approach, and matched to the timing and amount of each plan’s expected benefit payments.The following table summarizes amounts recognized in other comprehensive (loss) income, including reclassification adjustments, for the years ended December 31:PensionSERPOPEB(In thousands)202420232022202420232022202420232022Net actuarial (gain) loss$(3,985)$(10,639)$17,148 $(260)$183 $(581)$955 $(382)$(4,992)Amounts reclassified from (AOCL)(2,871)(4,781)(2,224)(12)(6)(26)976 2,704 40 Total (gain) loss recognized in OCI (OCL)$(6,856)$(15,420)$14,924 $(272)$177 $(607)$1,931 $2,322 $(4,952)At December 31, 2024, the expected future benefit payments for the Company’s defined benefit pension and other postretirement benefits plans are as follows:(In thousands)PensionSERPOPEB2025$11,052 $457 $1,262 202611,457 440 1,218 202711,882 420 1,223 202812,270 399 1,183 202912,579 377 1,143 Thereafter65,045 1,492 5,132 

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Asset ManagementThe Pension Plan invests primarily in common collective trusts and registered investment companies. However, the Pension Plan’s investment policy guidelines also allow for the investment in cash and cash equivalents, fixed income securities, and equity securities. Common collective trusts and registered investment companies are both benchmarked against the Standard & Poor’s 500 Index. Incremental