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BENEFIT PLANS
 3 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
BENEFIT PLANS BENEFIT PLANS
PENSION PLANS
We sponsor two qualified, noncontributory defined benefit pension plans, the Vulcan Materials Company Pension Plan (VMC Pension Plan) and the CMG Hourly Pension Plan (CMG Pension Plan). The VMC Pension Plan has been closed to new entrants since 2007, and benefit accruals ceased in 2005 for hourly participants and in 2013 for salaried participants. The CMG Pension Plan is closed to new entrants other than through one small union, and benefits continue to accrue equal to a flat dollar amount for each year of service. In addition to these qualified plans, we sponsor three unfunded, nonqualified pension plans.
The following table sets forth the components of net periodic pension benefit cost:
Three Months Ended
March 31
in millions20242023
Service cost$0.7 $0.6 
Interest cost8.2 8.5 
Expected return on plan assets(7.1)(6.9)
Amortization of prior service cost0.3 0.4 
Amortization of actuarial loss1.2 1.4 
Net periodic pension benefit cost$3.3 $4.0 
Pretax reclassifications from AOCI included in net periodic pension benefit cost$1.5 $1.8 
The contributions to pension plans for the three months ended March 31, 2024 and 2023, as reflected on the Condensed Consolidated Statements of Cash Flows, pertain to benefit payments under nonqualified plans for both periods.
POSTRETIREMENT PLANS
In addition to pension benefits, we provide certain healthcare and life insurance benefits for some retired employees. Substantially all our salaried employees and, where applicable, certain of our hourly employees may become eligible for these benefits if they reach a qualifying age and meet certain service requirements. Generally, Company-provided healthcare benefits end when covered individuals become eligible for Medicare benefits, become eligible for other group insurance coverage or reach age 65, whichever occurs first.
The following table sets forth the components of net periodic other postretirement benefit cost:
Three Months Ended
March 31
in millions20242023
Service cost$0.6 $0.5 
Interest cost0.5 0.5 
Amortization of prior service cost0.4 0.4 
Amortization of actuarial gain(0.2)(0.4)
Net periodic postretirement benefit cost $1.3 $1.0 
Pretax reclassifications from AOCI included in net periodic postretirement benefit credit$0.2 $0.0 
DEFINED CONTRIBUTION PLANS
In addition to our pension and postretirement plans, we sponsor four defined contribution plans. Substantially all salaried and nonunion hourly employees are eligible to be covered by one of these plans. Under these plans, we match employees’ eligible contributions at established rates. Expense recognized in connection with these matching obligations totaled $30.4 million and $18.9 million for the three months ended March 31, 2024 and 2023, respectively.