EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2014

Pension and Other Postretirement Benefit Plans

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans

Components of net periodic benefit cost recorded by the Company were as follows: 

	Pension Benefits						Other Postretirement Benefits
Millions of dollars	2014			2013			2014		2013
Three months ended March 31,
Service cost	$	5.0		$	5.9		$	1.2	$	1.6
Interest cost	10.2			9.5			3.1		2.8
Expected return on assets	(16.8		)	(15.4		)	—		—
Prior service cost amortization	1.0			1.7			0.1		0.2
Transition obligation amortization	—			—			—		0.2
Amortization of actuarial losses	1.3			5.4			0.1		0.8
Net periodic benefit cost	$	0.7		$	7.1		$	4.5	$	5.6

No significant contribution to the pension trust is expected for the foreseeable future, nor is a limitation on benefit payments expected to apply. SCE&G recovers current pension costs through either a rate rider that may be adjusted annually for retail electric operations or through cost of service rates for gas operations. Certain pension costs arising prior to 2013 were deferred for future recovery under regulatory orders as discussed in Note 2.

SCEG

Pension and Other Postretirement Benefit Plans

EMPLOYEE BENEFIT PLANS

Pension and Other Postretirement Benefit Plans

Consolidated SCE&G participates in SCANA’s noncontributory defined benefit pension plan, which covers substantially all regular, full-time employees, and also participates in SCANA’s unfunded postretirement health care and life insurance programs, which provide benefits to active and retired employees.  Components of net periodic benefit cost recorded by Consolidated SCE&G were as follows:

	Pension Benefits						Other Postretirement Benefits
Millions of dollars	2014			2013			2014		2013
Three months ended March 31,
Service cost	$	4.0		$	4.8		$	1.0	$	1.2
Interest cost	8.6			8.0			2.4		2.2
Expected return on assets	(14.2		)	(13.0		)	—		—
Prior service cost amortization	0.9			1.4			0.1		0.2
Amortization of actuarial losses	1.1			4.6			0.1		0.6
Net periodic benefit cost	$	0.4		$	5.8		$	3.6	$	4.2

No significant contribution to the pension trust is expected for the foreseeable future, nor is a limitation on benefit payments expected to apply. SCE&G recovers current pension costs through either a rate rider that may be adjusted annually for retail electric operations or through cost of service rates for gas operations. Certain pension costs arising prior to 2013 were deferred for future recovery under regulatory orders as discussed in Note 2.