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Retirement Plans
 9 Months Ended
Sep. 30, 2019
Defined Benefit Plan [Abstract]  
Retirement Plans Retirement Plans
The Corporation has a noncontributory defined benefit retirement account plan, the RAP, covering substantially all employees who meet participation requirements. The benefits are based primarily on years of service and the employee’s compensation paid. Employees of acquired entities generally participate in the RAP after consummation of the business combinations. Any retirement plans of acquired entities are typically merged into the RAP after completion of the mergers, and credit is usually given to employees for years of service at the acquired institution for vesting and eligibility purposes.
The Corporation also provides legacy healthcare access to a limited group of retired employees from a previous acquisition in the Postretirement Plan.  There are no other active retiree healthcare plans.
Bank Mutual was acquired on February 1, 2018. The Bank Mutual Pension Plan was merged into the RAP on December 31, 2018. Bank Mutual's Postretirement Plan was merged into the Corporation's Postretirement Plan during the first quarter of 2018. The reported figures in 2018 for both the Bank Mutual Pension Plan and the Corporation's Postretirement Plan only include eight months of Bank Mutual expense due to the timing of the Bank Mutual acquisition.
The Huntington branch acquisition closed on June 14, 2019, and the employees gained as a result of the transaction became eligible to participate in the RAP on the same date, with their vesting service credit based on their prior hours of service with Huntington.
The components of net periodic pension cost and net periodic benefit cost for the RAP, Bank Mutual Pension Plan, and Postretirement Plan for the three and nine months ended September 30, 2019 and 2018 were as follows:
 
Three Months Ended September 30,
Nine Months Ended September 30,
($ in Thousands)
2019
 
2018
2019
 
2018
Components of Net Periodic Benefit Cost
 
 
 
 
 
 
RAP
 
 
 
 
 
 
Service cost
$
1,598

 
$
1,885

$
5,448

 
$
5,670

Interest cost
2,489

 
1,682

7,314

 
5,002

Expected return on plan assets
(6,099
)
 
(4,777
)
(18,249
)
 
(14,287
)
Amortization of prior service cost
(18
)
 
(18
)
(55
)
 
(56
)
Amortization of actuarial loss
230

 
549

360

 
1,474

Total net periodic pension cost
$
(1,800
)
 
$
(680
)
$
(5,183
)
 
$
(2,197
)
Bank Mutual Pension Plan
 
 
 
 
 
 
Interest cost
N/A

 
$
654

N/A

 
$
1,737

Expected return on plan assets
N/A

 
(1,220
)
N/A

 
(2,812
)
Total net periodic pension cost
N/A

 
$
(566
)
N/A

 
$
(1,075
)
Postretirement Plan
 
 
 
 
 
 
Interest cost
$
26

 
$
27

$
78

 
$
80

Amortization of prior service cost
(19
)
 
(19
)
(56
)
 
(56
)
Amortization of actuarial loss
(1
)
 
2

(3
)
 
6

Total net periodic benefit cost
$
6

 
$
11

$
19

 
$
30



The components of net periodic pension cost and net periodic benefit cost, other than the service cost component, are included in the line item other of noninterest expense in the consolidated statements of income.
The Corporation’s funding policy is to pay at least the minimum amount required by federal law and regulations, with consideration given to the maximum funding amounts allowed. The Corporation regularly reviews the funding of its RAP. There were no contributions during the nine months ended September 30, 2019. The Corporation made a $6 million contribution to the Bank Mutual Pension Plan and a $4 million contribution to the RAP during the third quarter of 2018, as well as a $31 million contribution to the Bank Mutual Pension Plan during the second quarter of 2018.