XML 76 R22.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Pension, Savings, And Other Employee Benefits | 3 Months Ended
--- | ---
Mar. 31, 2014
Pension, Savings, And Other Employee Benefits [Abstract] |
Pension, Savings, And Other Employee Benefits | Note 12 – Pension, Savings, and Other Employee Benefits Pension plan. FHN sponsors a noncontributory, qualified defined benefit pension plan to employees hired or re-hired on or before September 1, 2007. Pension benefits are based on years of service, average compensation near retirement or other termination, and estimated social security benefits at age 65. The contributions are based upon actuarially determined amounts nece ssary to fund the total benefit obligation. FHN did not make any contributions to the qualified pension plan in 2013. Future decisions to contribute to the plan will be based upon pension funding requirements under the Pension Protection Act, the maximum amount deductible under the Internal Revenue Code, and the actual performance of plan assets. Management has assessed the need for future contributions, and doe s not currently anticipate that FHN will make a contribution t o th e qualified pension plan in 2014. FHN also maintains non-qualified plans including a supplemental pension plan that covers certain employees whose benefits under the qualified pension plan have been limited. T hese other non-qualified plans are unfunded, and contributions to these plans cover all benefits paid under the no n-qualified plans. Payments made under the non-qualified plans were $5.4 million for 2013. FHN anticipates making benefit payments under the non-qualified plans of $5.1 million in 2014. Savings plan. FHN provides all qualifying full-time employees with the opportunity to participate in the FHN tax qualified 401(k) savings plan. The qualified plan allows employees to defer receipt of earned salary, up to tax law limits, on a tax-advantaged basis. Accounts, which are held in trust, may be invested in a wide range of mutual funds and in FHN common stoc k. Up to tax law limits, FHN provides 100 percent match for the first 6 percent of salary deferred. Through a non-qualified savings re storation plan, FHN provides a restorative benefit to certain highly-compensated employees who participate in the savings plan and whose contribution elections are capped by tax limitations. Other employee benefits. FHN provides postretirement life insurance benefits to certain employees and also provides postretirement medical insurance benefits to retirement-eligible employees. The postretirement medical plan is contributory. For the 2013 plan year, certain retiree contrib utions were adjusted based on criteria that were a combination of the employee's age and/or years of service. For the 2014 plan year FHN contributes a fixed amount for each participant. FHN's postretirement ben efits include prescription drug benefits. The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (“the Act”) introdu ced a prescription drug benefit under Medicare Part D as well as a federal subsidy to sponsors of retiree health care that provide a benefit th at is actuarially equivalent to Medicare Part D. Beginning in 2014, FHN does not currently anticipate receiving a prescription drug su bsidy under the Act.
The components of net periodic benefit cost for the three months ended March 31 are as follows:
|  |  |  | Pension Benefits |  | Other Benefits |
(Dollars in thousands) | 2014 |  | 2013 |  | 2014 |  | 2013 |
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 17 |  | $ | 62 |  | $ | 55 |  | $ | 134 |
Interest cost |  | 8,660 |  |  | 8,085 |  |  | 458 |  |  | 548 |
Expected return on plan assets |  | (10,018) |  |  | (8,727) |  |  | (255) |  |  | (197) |
Amortization of unrecognized: |  |  |  |  |  |  |  |  |  |  |  |
| Prior service cost/(credit) |  | 87 |  |  | 88 |  |  | (291) |  |  | 8 |
| Actuarial (gain)/loss |  | 1,635 |  |  | 2,400 |  |  | (126) |  |  | 17 |
Net periodic benefit cost | $ | 381 |  | $ | 1,908 |  | $ | (159) |  | $ | 510 |

X
- Details
Name: | us-gaap_GeneralDiscussionOfPensionAndOtherPostretirementBenefitsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration