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Employee Benefits Plans
3 Months Ended
Mar. 31, 2023
Retirement Benefits [Abstract]  
Employee Benefit Plans
(10)
Employee Benefit Plans

 

Components of Net Periodic Expense

 

The components of net periodic expense were as follows (in thousands):

 

 

Defined Benefit Pension Plan

 

Supplemental Non-qualified Defined Benefit Plans

 

Non-pension Defined Benefit Postretirement Healthcare Plan

 

Three Months Ended March 31,

2023

 

2022

 

2023

 

2022

 

2023

 

2022

 

Service cost

$

614

 

$

982

 

$

914

 

$

(392

)

$

381

 

$

492

 

Interest cost

 

4,381

 

 

2,705

 

 

369

 

 

208

 

 

594

 

 

321

 

Expected return on plan assets

 

(4,672

)

 

(4,631

)

 

-

 

 

-

 

 

(56

)

 

(31

)

Net amortization of prior service costs

 

(17

)

 

(17

)

 

-

 

 

-

 

 

10

 

 

(72

)

Recognized net actuarial loss (gain)

 

498

 

 

1,523

 

 

8

 

 

69

 

 

(3

)

 

16

 

Net periodic expense (benefit)

$

804

 

$

562

 

$

1,291

 

$

(115

)

$

926

 

$

726

 

 

Plan Contributions

 

Contributions to the Defined Benefit Pension Plan are cash contributions made directly to the Pension Plan Trust account. Contributions to the Postretirement Healthcare and Supplemental Plans are made in the form of benefit payments. Contributions made in the first three months of 2023 and anticipated contributions for 2023 and 2024 are as follows (in thousands):

 

 

Contributions Made

 

Additional Contributions

 

Contributions

 

 

Three Months Ended March 31, 2023

 

Anticipated for 2023

 

Anticipated for 2024

 

Defined Benefit Pension Plan

$

-

 

$

-

 

$

-

 

Non-pension Defined Benefit Postretirement Healthcare Plan

$

1,230

 

$

3,690

 

$

4,556

 

Supplemental Non-qualified Defined Benefit and Defined Contribution Plans

$

558

 

$

1,673

 

$

2,410