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Postretirement Benefits Postretirement Benefits (Notes)
 12 Months Ended
Dec. 31, 2012
Postemployment Benefits [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
15. Postretirement Benefits
We maintain a postretirement benefit for two former officers of Summit, who also serve on our Board of Trust Managers. Benefits received by these former employees include medical benefits and office space. Participants in the postretirement plan contribute to the cost of the medical benefits. Our contribution for medical benefits was limited to approximately $1,000 per month per participant including dependents. We contributed approximately $0.2 million for office space during the year ended December 31, 2012 and expect to contribute $0.2 million for office space in 2013. For measurement purposes, a 7.6% rate of increase in the per capita cost of covered health care claims was assumed; the rate of increase was assumed to decrease until 2027 at which point the annual rate of increase would be 4.5% and remain at that level thereafter.
As of December 31, the status of our defined postretirement benefit plan, calculated using generally accepted actuarial principles and procedures, was as follows:
 
(in thousands)
2012
 
2011
Postretirement benefit obligation, beginning of year
$
3,701

 
$
2,844

Net periodic benefit cost
191

 
193

Actuarial loss
409

 
609

Prior service cost
—

 
291

Amortization of prior service cost and net loss
(30
)
 
(16
)
Benefits paid
(231
)
 
(220
)
Accumulated postretirement benefit obligation, end of year (1)
$
4,040

 
$
3,701

(1) Recorded in other liabilities in our consolidated balance sheets.
The weighted average discount rate used to determine the value of accumulated postretirement benefit obligation for the years ended December 31, 2012 and 2011 was 3.50% and 4.50%, respectively. The weighted average discount rate used to determine the value of the net periodic benefit cost for the years ended December 31, 2012, 2011 and 2010 was 4.50%, 5.25% and 6.10%, respectively.
The following table details the amounts recognized in our accumulated other comprehensive income (loss) at December 31 related to postretirement benefits:
 
(in thousands)
2012
 
2011
Accumulated other comprehensive income (loss), beginning of year
$
(683
)
 
$
201

Prior service cost arising during period
—

 
(291
)
Amortization of prior service cost and net loss
30

 
16

Actuarial loss arising during period
(409
)
 
(609
)
Accumulated other comprehensive loss, end of year
$
(1,062
)
 
$
(683
)

During 2013, we expect amortization of prior service cost from other comprehensive loss and recognized as benefit cost to be consistent with 2012.
We expect minimum benefit payments to be approximately $0.2 million for the years ending December 31, 2013 through 2015, approximately $0.3 million for the years ending December 31, 2016 and 2017 and approximately $1.3 million in the aggregate for the five fiscal years thereafter. The estimated benefit payments are based on assumptions about future events. Actual benefit payments may vary significantly from these estimates.
A 1% increase or decrease in assumed health care cost trend rates has no significant effect on the interest cost component of net periodic postretirement benefit costs. A 1% increase or decrease in assumed health care cost trend rates would increase or decrease the accumulated postretirement benefit obligation by approximately $0.1 million.