Employee Benefit Plans

9 Months Ended

Sep. 30, 2011

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Pension expense is a component of employee benefits expense. For the three- and nine-month periods ended September 30, 2011 and 2010, respectively, the components of pension expense are as follows:

	Three Months Ended September 30						Nine months ended September 30,
	2011			2010			2011			2010
Service cost	$	3,316		$	2,760		$	9,949		$	9,431
Interest cost	5,953			5,192			17,858			17,738
Expected return on assets	(7,178		)	(6,533		)	(21,530		)	(22,551		)
Amortization of prior service cost	53			42			158			157
Amortization of net actuarial loss	1,596			771			4,786			2,851
Total pension expense	$	3,740		$	2,232		$	11,221		$	7,626

The assumed discount rate for 2011 is 5.50 percent, the expected long-term rate of return on plan assets is 7.75 percent and the assumed rate of salary increases is 4.50 percent. For 2010 the assumed discount rate was 6.00 percent, expected long-term rate of return was 8.00 percent and the assumed rate of salary increases was 4.50 percent.