Note 10: Benefit Plans

We sponsor three funded, noncontributory defined benefit pension plans. These plans cover substantially all employees hired prior to July 15, 2007, other than those covered by union-administered plans. Normal retirement age is 65, but the plans contain provisions for earlier retirement. Benefits for the Salaried Plan and the Chemicals Hourly Plan are generally based on salaries or wages and years of service; the Construction Materials Hourly Plan provides benefits equal to a flat dollar amount for each year of service. In addition to these qualified plans, we sponsor three unfunded, nonqualified pension plans.

Effective July 15, 2007, we amended our defined benefit pension plans to no longer accept new participants. In December 2013, we amended our defined benefit pension plans so that future service accruals for salaried pension participants ceased effective December 31, 2013. This change included a special transition provision which will allow covered compensation through December 31, 2015 to be considered in the participants’ benefit calculations.

The following table sets forth the components of net periodic pension benefit cost:



PENSION BENEFITS	Three Months Ended		Six Months Ended
	June 30			June 30
in thousands	2015	2014		2015	2014
Components of Net Periodic Benefit Cost
Service cost	$ 1,212	$ 1,040		$ 2,425	$ 2,079
Interest cost	11,036	11,098		22,073	22,196
Expected return on plan assets	(13,684)	(12,700)		(27,368)	(25,401)
Amortization of prior service cost	12	47		24	94
Amortization of actuarial loss	5,455	2,805		10,909	5,610
Net periodic pension benefit cost	$ 4,031	$ 2,290		$ 8,063	$ 4,578
Pretax reclassification from AOCI included in
net periodic pension benefit cost	$ 5,467	$ 2,852		$ 10,933	$ 5,704

Prior contributions, along with the existing funding credits, are sufficient to cover required contributions to the qualified plans through 2015.

In addition to pension benefits, we provide certain healthcare and life insurance benefits for some retired employees. In 2012, we amended our postretirement healthcare plan to cap our portion of the medical coverage cost at the 2015 level. Substantially all our salaried employees and where applicable, hourly employees may become eligible for these benefits if they reach a qualifying age and meet certain service requirements. Generally, Company-provided healthcare benefits terminate when covered individuals become eligible for Medicare benefits, become eligible for other group insurance coverage or reach age 65, whichever occurs first.

The March 2014 sale of our cement and concrete businesses in the Florida area (see Note 16) significantly reduced total expected future service of our postretirement plans resulting in a one-time curtailment gain of $3,832,000. This gain was reflected within gain on sale of property, plant & equipment, net in our accompanying Condensed Consolidated Statement of Comprehensive Income for the six months ended June 30, 2014.

The following table sets forth the components of net periodic postretirement benefit cost:



OTHER POSTRETIREMENT BENEFITS	Three Months Ended		Six Months Ended
	June 30			June 30
in thousands	2015	2014		2015	2014
Components of Net Periodic Benefit Cost
Service cost	$ 474	$ 537		$ 947	$ 1,073
Interest cost	626	825		1,243	1,649
Curtailment gain	0	0		0	(3,832)
Amortization of prior service credit	(1,058)	(1,082)		(2,116)	(2,164)
Amortization of actuarial loss	23	56		19	113
Net periodic postretirement benefit cost (credit)	$ 65	$ 336		$ 93	$ (3,161)
Pretax reclassification from AOCI included in
net periodic postretirement benefit credit	$ (1,035)	$ (1,026)		$ (2,097)	$ (5,883)

The reclassifications from AOCI noted in the tables above are related to curtailment gains, amortization of prior service costs or credits and actuarial losses as shown in Note 11.