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Retirement Plans and Other Postretirement Benefits
 3 Months Ended
Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans and Other Postretirement Benefits
Retirement Plans and Other Postretirement Benefits
Substantially all employees who were hired before December 8, 2009 are covered by a noncontributory retirement plan. Employees hired on or after December 8, 2009 are not eligible to participate in the noncontributory retirement plan. The Corporation also provides supplemental executive retirement benefits to certain former executives, a portion of which is in excess of limits imposed on qualified plans by federal tax law; these plans are non-qualified benefit plans. These non-qualified benefit plans are not offered to new participants; all current participants are now retired. Information on these plans are aggregated and reported under “Retirement Plans” within this footnote.
The Corporation also provides certain postretirement healthcare and life insurance benefits for retired employees. Information on these benefits is reported under “Other Postretirement Benefits” within this footnote.
The Corporation sponsors a Supplemental Non-Qualified Pension Plan which was established in 1981 prior to the existence of a 401(k) deferred salary savings plan, employee stock purchase plan and long-term incentive plans and therefore is not offered to new participants; all current participants are now retired.
Components of net periodic benefit cost (income) were as follows: 
 
Three Months Ended March 31,
 
2016
 
2015
 
2016
 
2015
(Dollars in thousands)
Retirement Plans
 
Other Post Retirement
Benefits
Service cost
$
171

 
$
193

 
$
12

 
$
15

Interest cost
518

 
488

 
33

 
28

Expected return on plan assets
(754
)
 
(756
)
 
—

 
—

Amortization of net actuarial loss
323

 
328

 
6

 
13

Accretion of prior service cost
(71
)
 
(70
)
 
—

 
—

Net periodic benefit cost
$
187

 
$
183

 
$
51

 
$
56

 
 
 
 
 
 
 
 

The Corporation previously disclosed in its financial statements for the year ended December 31, 2015, that it expected to make contributions of $160 thousand to its non-qualified retirement plans and $117 thousand to its other postretirement benefit plans in 2016. During the three months ended March 31, 2016, the Corporation contributed $40 thousand to its non-qualified retirement plans and $20 thousand to its other postretirement plans. During the three months ended March 31, 2016, $609 thousand was paid to participants from the retirement plans and $20 thousand was paid to participants from the other postretirement plans.