Pension

The amount of net pension cost is shown in the table below:



	For the Three Months Ended March 31
(In thousands)	2018			2017
Service cost - benefits earned during the period	$	153		$	129
Interest cost on projected benefit obligation	950			973
Expected return on plan assets	(1,437		)	(1,438		)
Amortization of prior service cost	(68		)	(68		)
Amortization of unrecognized net loss	592			617
Net periodic pension cost	$	190		$	213

Substantially all benefits accrued under the Company’s defined benefit pension plan were frozen effective January 1, 2005, and the remaining benefits were frozen effective January 1, 2011. During the first three months of 2018, the Company made no funding contributions to its defined benefit pension plan and made minimal funding contributions to a supplemental executive retirement plan (the CERP), which carries no segregated assets. The Company has no plans to make any further contributions, other than those related to the CERP, during the remainder of 2018.

The Company adopted ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, on January 1, 2018. This guidance requires that the service cost component of net periodic pension cost be reported in the same income statement line item as other compensation costs, while other components of net periodic pension cost be reported separately from the service cost component. Historically, the Company has reported all components of pension cost in salaries and employee benefits. Beginning in 2018, only the service cost component has been included in this category, and the other components have been recorded in other non-interest expense. Prior period financial statements have not been revised because the amount of the reclassification was not significant.