Note 10 – Pension Plan

The Company participates in a trusteed pension plan known as the Allegheny Group Retirement Plan covering virtually all full-time employees. Benefits are based on years of service and the employee's compensation. Accruals under the Plan were frozen as of May 31, 2014. Freezing the plan resulted in a re-measurement of the pension obligations and plan assets as of the freeze date. The pension obligation was re-measured using the discount rate based on the Citigroup Above Median Pension Discount Curve in effect on May 31, 2014 of 4.46%.

Information pertaining to the activity in the Company’s defined benefit plan, using the latest available actuarial valuations with a measurement date of September 30, 2017 and 2016 is as follows:



(Dollars in thousands)	Three Months Ended September 30, 2017			Three Months Ended September 30, 2016			Nine Months Ended September 30, 2017		Nine Months Ended September 30, 2016
Service cost	$	—		$	—		—		—
Interest cost	90			92			270		276
Expected Return on Plan Assets	(86		)	(83		)	(258	)	(248	)
Amortization of Net Actuarial Loss	60			59			180		177
Amortization of Prior Service Cost	—			—			—		—
Net Periodic Benefit Cost	$	64		$	68		192		205
Contributions Paid	$	145		$	62		261		142