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Employee Benefits
 12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
Employee Benefits [Text Block] Employee Benefits

BOK Financial sponsors a defined benefit cash balance Pension Plan for all employees who satisfy certain age and service requirements. Pension Plan benefits were curtailed as of April 1, 2006. No participants may be added to the plan and no additional service benefits will be accrued. During 2018 and 2017, interest accrued on employees' account balances at a variable rate tied to the five-year trailing average of five-year U.S. Treasury securities plus 1.5%. The rate has a floor of 3.0% and a ceiling of 5.0%. The 2018 quarterly variable rates ranged from 3.00% to 3.24%.

The following table presents information regarding this plan (in thousands):
 
 
December 31,
 
 
2018
 
2017
Change in projected benefit obligation:
 
 
 
 
Projected benefit obligation at beginning of year
 
$
30,897

 
$
34,964

Interest cost
 
973

 
1,153

Actuarial loss (gain)
 
(1,417
)
 
223

Benefits paid
 
(6,033
)
 
(5,443
)
Projected benefit obligation at end of year1,2
 
$
24,547

 
$
30,897

Change in plan assets:
 
 
 
 

Plan assets at fair value at beginning of year
 
$
40,419

 
$
41,769

Actual return on plan assets
 
(804
)
 
4,093

Benefits paid
 
(6,033
)
 
(5,443
)
Plan assets at fair value at end of year
 
$
33,582

 
$
40,419

 
 
 
 
 
Funded status of the plan
 
$
9,035

 
$
9,522

Components of net periodic benefit:
 
 
 
 

Interest cost
 
$
973

 
$
1,153

Expected return on plan assets
 
(2,065
)
 
(2,041
)
Other
 
509

 
184

Net periodic benefit cost (credit)
 
$
(583
)
 
$
(704
)

1 
Projected benefit obligation equals accumulated benefit obligation.
2 
Projected benefit obligation is based on January 1 measurement date.

Weighted-average assumptions as of December 31:
 
2018
 
2017
Discount rate
 
4.10
%
 
3.30
%
Expected return on plan assets
 
5.50
%
 
5.50
%


As of December 31, 2018, expected future benefit payments related to the Pension Plan were as follows (in thousands):
2019
$
3,562

2020
2,257

2021
2,194

2022
2,299

2023
2,495

Thereafter
19,175

Total estimated future benefit payments
$
31,982



Assets of the Pension Plan consist primarily of shares in the Cavanal Hill Active Core Fund. The stated objective of this fund is to provide an attractive total return with a well-balanced mix of equities and bonds. The typical portfolio mix is approximately 60% equities and 40% bonds. The net asset value of shares in the Cavanal Hill Funds is reported daily based on market quotations for the Fund’s securities. Management considers the Fund's recent and long-term performance as indicators when setting the expected return on plan assets. The maximum tax deductible Pension Plan contribution for 2018 was $6.6 million. No minimum contribution was required for 2018, 2017 or 2016.

Employee contributions to the Thrift Plan are eligible for Company matching equal to 6% of base compensation, as defined in the plan. The Company-provided matching contribution rates range from 50% for employees with less than 4 years of service to 200% for employees with 15 or more years of service. Additionally, a maximum Company-provided, non-elective annual contribution of up to $750 per participant is provided for employees whose annual base compensation is less than $40,000. 
Participants may direct investments in their accounts to a variety of options, including a BOK Financial common stock fund and Cavanal Hill funds. Employer contributions, which are invested in accordance with the participant’s investment options, vest over five years. Thrift Plan expenses were $25.1 million for 2018, $22.8 million for 2017 and $22.4 million for 2016.