Quarterly report pursuant to Section 13 or 15(d)

BENEFIT PLANS

v3.8.0.1
BENEFIT PLANS
 3 Months Ended
Mar. 31, 2018
Retirement Benefits [Abstract]  
BENEFIT PLANS
. BENEFIT PLANS
Huntington sponsors a non-contributory defined benefit pension plan covering substantially all employees hired or rehired prior to January 1, 2010. The plan, which was modified in 2013, no longer accrues service benefits to participants and provides benefits based upon length of service and compensation levels. Huntington's funding policy is to contribute an annual amount that is at least equal to the minimum funding requirements but not more than the amount deductible under the Internal Revenue Code. There is no required minimum contribution for 2018.
In addition, Huntington has a defined benefit post-retirement plan that provides certain healthcare and life insurance benefits to retired employees who have attained the age of 55 and have at least 10 years of vesting service under this plan. For additional information on benefit plans, see the Benefit Plan footnote in our 2017 Form 10-K.
The following table shows the components of net periodic (benefit) cost for all plans:
 
Pension Benefits (1)
 
Post-Retirement Benefits (1)
 
Three Months Ended March 31,
 
Three Months Ended March 31,
(dollar amounts in millions)
2018
 
2017
 
2018
 
2017
Service cost
$
1

 
$
1

 
$
—

 
$
—

Interest cost
7

 
7

 
—

 
—

Expected return on plan assets
(12
)
 
(14
)
 
—

 
—

Amortization of prior service cost
—

 
—

 
(1
)
 
—

Amortization of loss
2

 
2

 
—

 
—

Settlements
3

 
3

 
—

 
—

Net periodic (benefit) cost
$
1

 
$
(1
)
 
$
(1
)
 
$
—


(1)
All pension and post-retirement (benefits) costs are recorded in Other Income on the Condensed Consolidated Statements of Income.