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Retirement Plans | 9 Months Ended
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Sep. 30, 2012
Compensation and Retirement Disclosure [Abstract] |
Retirement Plans | Retirement Plans The following tables show the costs of the Retirement Income Plan for Selective Insurance Company of America (“Retirement Income Plan”) and the retirement life insurance component (“Retirement Life Plan”) of the Selective Insurance Company of America Welfare Benefits Plan. For more information concerning these plans, refer to Note 16. “Retirement Plans” in Item 8. “Financial Statements and Supplementary Data.” of our 2011 Annual Report.
|  | Retirement Income Plan Quarter ended September 30, |  | Retirement Life Plan Quarter ended September 30,
($ in thousands) |  | 2012 |  | 2011 |  | 2012 |  | 2011
Components of Net Periodic Benefit Cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 2,154 |  |  | 1,894 |  |  | — |  |  | — |
Interest cost |  | 3,230 |  |  | 3,087 |  |  | 73 |  |  | 77 |
Expected return on plan assets |  | (3,547 | ) |  | (3,482 | ) |  | — |  |  | — |
Amortization of unrecognized prior service cost |  | 38 |  |  | 38 |  |  | — |  |  | — |
Amortization of unrecognized net loss |  | 1,383 |  |  | 1,039 |  |  | 8 |  |  | 4 |
Net periodic cost |  | $ | 3,258 |  |  | 2,576 |  |  | 81 |  |  | 81 |
|  | Retirement Income Plan Nine Months ended September 30, |  | Retirement Life Plan Nine Months ended September 30,
($ in thousands) |  | 2012 |  | 2011 |  | 2012 |  | 2011
Components of Net Periodic Benefit Cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 6,462 |  |  | 6,241 |  |  | — |  |  | — |
Interest cost |  | 9,690 |  |  | 9,397 |  |  | 221 |  |  | 230 |
Expected return on plan assets |  | (10,641 | ) |  | (10,445 | ) |  | — |  |  | — |
Amortization of unrecognized prior service cost |  | 113 |  |  | 113 |  |  | — |  |  | — |
Amortization of unrecognized net loss |  | 4,149 |  |  | 3,239 |  |  | 23 |  |  | 13 |
Net periodic cost |  | $ | 9,773 |  |  | 8,545 |  |  | 244 |  |  | 243 |
Weighted-Average Expense Assumptions for the years ended December 31: |  |  |  |  |  |  |  |  |  |
Discount rate |  | 5.16 | % |  | 5.55 |  | 5.16 | % |  | 5.55
Expected return on plan assets |  | 7.75 | % |  | 8.00 |  | — |  |  | —
Rate of compensation increase |  | 4.00 | % |  | 4.00 |  | — |  |  | —
We presently anticipate contributing $8.6 million to the Retirement Income Plan in 2012, $7.1 million of which has been funded as of September 30, 2012.

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