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Pension Plans and Other Postretirement Benefits (Tables) | 12 Months Ended
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Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract] |
Change in Benefit Obligations |
|  |  |  |  |  |  |  | Other Postretirement |
| (In thousands) |  | Pension Benefits |  |  | Benefits |
| Change in benefit obligations: |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |
| Net benefit obligation at beginning of year | $ | 315,505 | $ | 283,668 |  | $ | 92,605 | $ | 97,644 |
| Service cost |  | 7,705 |  | 7,139 |  |  | 2,380 |  | 2,528 |
| Interest cost |  | 12,656 |  | 12,704 |  |  | 3,871 |  | 4,431 |
| Plan participants' contributions |  | 0 |  | 0 |  |  | 665 |  | 718 |
| Plan amendments(a) |  | 0 |  | (912) |  |  | (20,915) |  | 0 |
| Actuarial (gain) loss |  | (40,335) |  | 22,266 |  |  | (9,687) |  | (9,748) |
| Gross benefits paid |  | (11,573) |  | (9,360) |  |  | (2,998) |  | (3,155) |
| Less: federal subsidy on benefits paid |  | 0 |  | 0 |  |  | 179 |  | 187 |
| Benefit obligation at end of year | $ | 283,958 | $ | 315,505 |  | $ | 66,100 | $ | 92,605 |
In 2013, MGE cap ped the amount it pays each year toward retiree medical premiums at 175% of the 2013 employer contribution for qualified employees.
Assumptions to Determine Benefit Obligations |
|  |  |  |  |  | Other Postretirement |
|  |  | Pension Benefits |  | Benefits |
| Weighted-average assumptions used to |  |  |  |  |  |  |
| determine end of year benefit obligations: |  | 2013 | 2012 |  | 2013 | 2012 |
| Discount rate |  | 4.88% | 4.09% |  | 4.69% | 4.14% |
| Rate of compensation increase |  | 3.90% | 4.60% |  | N/A | N/A |
Health Care Cost Trends | The following table shows assumed health care cost trend rates at December 31:
|  |  | 2013 | 2012 |
| Health care cost trend rate assumed for next year |  | 7.0% | 7.5% |
| Rate to which the cost trend rate is assumed to |  |  |  |
| decline (the ultimate trend rate) |  | 5.0% | 5.0% |
| Year that the rate reaches the ultimate trend rate |  | 2018 | 2018 |
Effect of 1% Increase or Decrease in Health Care Costs | The following table shows how an assumed 1% increase or 1% decrease in health care cost trends could impact postretirement benefits in 2013 dollars:
| (In thousands) |  | 1% Increase |  |  | 1% Decrease |
| Effect on other postretirement benefit obligation | $ | 1,286 |  | $ | (1,840) |
A 1% change in the assumed health care cost trend rates would have had the following effect:
| (In thousands) |  | 1% Increase |  |  | 1% Decrease |
| Effect on total service and interest cost components | $ | 1,104 |  | $ | (879) |
Change in Plan Assets |
|  |  |  |  |  |  |  | Other Postretirement |
| (In thousands) |  | Pension Benefits |  |  | Benefits |
| Change in plan assets: |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |
| Fair value of plan assets at beginning of year | $ | 212,277 | $ | 173,311 |  | $ | 32,124 | $ | 23,456 |
| Actual return on plan assets |  | 45,816 |  | 27,511 |  |  | 5,000 |  | 3,046 |
| Employer contributions |  | 30,878 |  | 20,815 |  |  | 2,811 |  | 8,059 |
| Plan participants' contributions |  | 0 |  | 0 |  |  | 665 |  | 718 |
| Gross benefits paid |  | (11,573) |  | (9,360) |  |  | (2,998) |  | (3,155) |
| Fair value of plan assets at end of year | $ | 277,398 | $ | 212,277 |  | $ | 37,602 | $ | 32,124 |
Fair Value of Plan Assets by Asset Category | The asset allocation for MGE's pension plans at the end of 2013 and 2012, and the target allocation for 2014, by asset category, follows:
|  |  |  |  |  | Percentage of Plan
|  |  | Target |  |  | Assets at Year End
|  |  | Allocation |  |  | 2013 |  | 2012
| Equity securities |  | 63.0% |  |  | 66.0% |  | 64.0%
| Debt securities |  | 30.0% |  |  | 28.0% |  | 29.0%
| Real estate |  | 7.0% |  |  | 6.0% |  | 7.0%
| Total |  | 100.0% |  |  | 100.0% |  | 100.0%
The fair v alue of MGE's plan assets, by asset category are as follows:
|  | Fair Value as of December 31, 2013 |
| (In thousands) |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
| Cash and Cash Equivalents | $ | 5,109 | $ | 5,109 | $ | 0 | $ | 0 |
| Equity Securities: |  |  |  |  |  |  |  |  |
| U.S. Large Cap |  | 96,258 |  | 0 |  | 96,258 |  | 0 |
| U.S. Mid Cap |  | 22,741 |  | 0 |  | 22,741 |  | 0 |
| U.S. Small Cap |  | 28,854 |  | 0 |  | 28,854 |  | 0 |
| International Blend |  | 54,873 |  | 0 |  | 54,873 |  | 0 |
| Fixed Income Securities: |  |  |  |  |  |  |  |  |
| Short-Term Fund |  | 4,789 |  | 0 |  | 4,789 |  | 0 |
| High Yield Bond |  | 15,127 |  | 0 |  | 15,127 |  | 0 |
| Long Duration Bond |  | 66,193 |  | 0 |  | 66,193 |  | 0 |
| Real Estate |  | 19,628 |  | 0 |  | 0 |  | 19,628 |
| Insurance Continuance Fund |  | 1,428 |  | 0 |  | 0 |  | 1,428 |
| Total | $ | 315,000 | $ | 5,109 | $ | 288,835 | $ | 21,056 |
|  | Fair Value as of December 31, 2012 |
| (In thousands) |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |
| Cash and Cash Equivalents | $ | 5,627 | $ | 5,627 | $ | 0 | $ | 0 |
| Equity Securities: |  |  |  |  |  |  |  |  |
| U.S. Large Cap |  | 68,671 |  | 0 |  | 68,671 |  | 0 |
| U.S. Mid Cap |  | 16,741 |  | 0 |  | 16,741 |  | 0 |
| U.S. Small Cap |  | 21,222 |  | 0 |  | 21,222 |  | 0 |
| International Blend |  | 44,200 |  | 0 |  | 44,200 |  | 0 |
| Fixed Income Securities: |  |  |  |  |  |  |  |  |
| Short-Term Fund |  | 4,231 |  | 0 |  | 4,231 |  | 0 |
| High Yield Bond |  | 11,587 |  | 0 |  | 11,587 |  | 0 |
| Long Duration Bond |  | 53,515 |  | 0 |  | 53,515 |  | 0 |
| Real Estate |  | 17,141 |  | 0 |  | 0 |  | 17,141 |
| Insurance Continuance Fund |  | 1,466 |  | 0 |  | 0 |  | 1,466 |
| Total | $ | 244,401 | $ | 5,627 | $ | 220,167 | $ | 18,607 |
Change in Fair Value of Level 3 Plan Assets | The following table summarizes the changes in the fair value of the Level 3 plan assets.
|  |  | Level 3 Assets |
|  |  |  |  | Insurance |
|  |  |  |  | Continuance |
| (In thousands) |  | Real Estate |  | Fund |
| Balance as of January 1, 2012 | $ | 15,565 | $ | 906 |
| Actual return on plan assets: |  |  |  |  |
| Relating to assets still held at the reporting date |  | 682 |  | 33 |
| Purchases, sales, and settlements |  | 894 |  | 527 |
| Transfers in and/or out of Level 3 |  | 0 |  | 0 |
| Balance as of December 31, 2012 | $ | 17,141 | $ | 1,466 |
| Actual return on plan assets: |  |  |  |  |
| Relating to assets still held at the reporting date |  | 1,565 |  | 42 |
| Purchases, sales, and settlements |  | 922 |  | (80) |
| Transfers in and/or out of Level 3 |  | 0 |  | 0 |
| Balance as of December 31, 2013 | $ | 19,628 | $ | 1,428 |
Funded Status | The funded status at the end of the year, and the related amounts recognized on the c onsolidated b alance s heet are as follows:
|  |  |  |  |  |  |  | Other Postretirement |
| (In thousands) |  | Pension Benefits |  |  | Benefits |
| Funded status, end of year |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |
| Fair value of plan assets | $ | 277,398 | $ | 212,277 |  | $ | 37,602 | $ | 32,124 |
| Benefit obligations |  | 283,958 |  | 315,505 |  |  | 66,100 |  | 92,605 |
| Funded status | $ | (6,560) | $ | (103,228) |  | $ | (28,498) | $ | (60,481) |
Amounts Recognized in Regulatory Asset |
|  |  |  |  |  | Other Postretirement |
| (In thousands) |  | Pension Benefits |  |  | Benefits |
| Amounts recognized as regulatory asset |  | 2013 |  | 2012 |  |  | 2013 |  | 2012 |
| Net actuarial loss | $ | 37,499 | $ | 112,637 |  | $ | 7,761 | $ | 21,529 |
| Prior service cost |  | (209) |  | 105 |  |  | (20,495) |  | 530 |
| Transition obligation |  | 0 |  | 0 |  |  | 35 |  | 38 |
| Total | $ | 37,290 | $ | 112,742 |  | $ | (12,699) | $ | 22,097 |
Scehdule of Projected Benefit Obligations in Excess of Plan Assets | The projected benefit obligation and fair value of plan assets for pension plans with a projected benefit obligation in excess of plan assets were as follows:
| (In thousands) |  | Pension Benefits |
| Projected benefit obligation in excess of plan assets |  | 2013 |  | 2012 |
| Projected benefit obligation, end of year | $ | 21,631 | $ | 315,505 |
| Fair value of plan assets, end of year |  | 0 |  | 212,277 |
Schedule of Projected Benefit and Accumulated Benefit Obligations in Excess of Plan Assets | The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for pension plans with a projected benefit obligation in excess of plan assets and an accumulated benefit obligation in excess of plan assets were as follows:
| (In thousands) |  | Pension Benefits |
| Accumulated benefit obligation in excess of plan assets |  | 2013 |  | 2012 |
| Projected benefit obligation, end of year | $ | 21,631 | $ | 315,505 |
| Accumulated benefit obligation, end of year |  | 19,795 |  | 272,462 |
| Fair value of plan assets, end of year |  | 0 |  | 212,277 |
Benefit Payments, Fiscal Year Maturity | The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows:
|  |  | Pension |  | Other Postretirement |
|  |  |  |  | Gross |  | Expected |  | Net |
|  |  | Pension |  | Postretirement |  | Medicare Part D |  | Postretirement |
| (In thousands) |  | Benefits |  | Benefits |  | Subsidy |  | Benefits |
| 2014 | $ | 11,474 |  | 2,924 |  | (191) | $ | 2,733 |
| 2015 |  | 12,223 |  | 3,056 |  | (219) |  | 2,837 |
| 2016 |  | 12,844 |  | 3,308 |  | (246) |  | 3,062 |
| 2017 |  | 13,633 |  | 3,740 |  | (266) |  | 3,474 |
| 2018 |  | 14,755 |  | 4,198 |  | (289) |  | 3,909 |
| 2019 - 2023 |  | 87,676 |  | 27,110 |  | (1,866) |  | 25,244 |
Net Periodic Benefit Costs |
| (In thousands) |  | Pension Benefits |  | Other Postretirement Benefits
| Components of net periodic benefit cost |  | 2013 |  | 2012 |  | 2011 |  | 2013 |  | 2012 |  | 2011
| Service cost | $ | 7,705 | $ | 7,139 | $ | 6,013 | $ | 2,380 | $ | 2,528 | $ | 1,920
| Interest cost |  | 12,656 |  | 12,704 |  | 12,281 |  | 3,871 |  | 4,431 |  | 3,980
| Expected return on assets |  | (19,027) |  | (15,182) |  | (14,034) |  | (2,176) |  | (1,741) |  | (1,584)
| Special termination benefits |  | 0 |  | 0 |  | 13 |  | 0 |  | 0 |  | 0
| Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
| Transition obligation |  | 0 |  | 0 |  | 0 |  | 3 |  | 425 |  | 427
| Prior service cost |  | 314 |  | 430 |  | 433 |  | 110 |  | 110 |  | 110
| Actuarial loss |  | 8,014 |  | 8,288 |  | 3,771 |  | 1,236 |  | 2,346 |  | 566
| Net periodic benefit cost | $ | 9,662 | $ | 13,379 | $ | 8,477 | $ | 5,424 | $ | 8,099 | $ | 5,419
| Weighted-average assumptions used to |  |  |  |  |  |  |  |  |  |  |  |
| determine net periodic cost: |  |  |  |  |  |  |  |  |  |  |  |
| Discount rate |  | 4.09% |  | 4.50% |  | 5.36% |  | 4.14% |  | 4.55% |  | 5.42%
| Expected return on plan assets |  | 8.10% |  | 8.10% |  | 8.25% |  | 6.79% |  | 7.26% |  | 7.39%
| Rate of compensation increase |  | 4.60% |  | 4.59% |  | 4.59% |  | N/A |  | N/A |  | N/A

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- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in regulatory assets that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References No definition available. + Details
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- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2417-114920 + Details
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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the aggregate benefit obligation and aggregate fair value of plan assets for pension plans and/or other employee benefit plans with benefit obligations in excess of plan assets as of the measurement date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2417-114920 + Details
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- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (m) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (l) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
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