Actuarial Assumptions:
The Company reassesses its benefit plan assumptions on a regular basis. The actuarial assumptions for the principal pension and post-retirement plans are as follows:
| Year Ended December 31, | ||||||||||||||||||||||||
| 2013 | 2012 | 2011 | ||||||||||||||||||||||
| Pension Benefits |
Post-retirement Life Benefits |
Pension Benefits |
Post-retirement Life Benefits |
Pension Benefits |
Post-retirement Life Benefits |
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|
Discount rate to determine net periodic cost |
3.80 | % | 4.20 | % | 4.30 | % | 4.50 | % | 5.25 | % | 5.70 | % | ||||||||||||
|
Discount rate to determine the benefit obligation as of December 31 |
4.70 | % | 5.10 | % | 3.80 | % | 4.20 | % | 4.30 | % | 4.50 | % | ||||||||||||
|
Rate of compensation increase to determine net periodic cost |
N/A | 3.50 | % | N/A | 3.50 | % | N/A | 3.50 | % | |||||||||||||||
|
Rate of compensation increase to determine the benefit obligation as of December 31 |
N/A | 3.50 | % | N/A | 3.50 | % | N/A | 3.50 | % | |||||||||||||||
|
Expected average rate of return on plan assets |
7.30 | % | 5.10 | % | 7.75 | % | 5.70 | % | 7.75 | % | 6.20 | % | ||||||||||||