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PENSION PLANS
 6 Months Ended
Jun. 30, 2022
Retirement Benefits, Description [Abstract]  
PENSION PLANS PENSION PLANS
Defined Benefit Pension Plans

The following table is a consolidated disclosure of all domestic and foreign defined benefit pension plans as described in the Corporation’s 2021 Annual Report on Form 10-K.  

The components of net periodic pension cost for the three and six months ended June 30, 2022 and 2021 were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
(In thousands)2022202120222021
Service cost$5,970 $7,120 $12,033 $13,990 
Interest cost5,418 4,511 10,706 8,817 
Expected return on plan assets(13,858)(15,191)(27,715)(30,371)
Amortization of prior service cost(87)(369)(173)(432)
Amortization of unrecognized actuarial loss3,845 7,574 7,851 14,717 
Cost of settlements— 3,075 1,842 3,075 
Net periodic pension cost$1,288 $6,720 $4,544 $9,796 

The Corporation did not make any contributions to the Curtiss-Wright Pension Plan during 2021, and does not expect to do so in 2022. Contributions to the foreign benefit plans are not expected to be material in 2022.

During the six months ended June 30, 2022, as well as during the three and six months ended June 30, 2021, the Company recognized settlement charges related to the retirement of former executives. The settlement charges represent events that are accounted for under guidance on employers’ accounting for settlements and curtailments of defined benefit pension plans.

Defined Contribution Retirement Plan

The Company also maintains a defined contribution plan for all non-union employees who are not currently receiving final or career average pay benefits for its U.S. subsidiaries. The employer contributions include both employer match and non-elective contribution components up to a maximum employer contribution of 7% of eligible compensation. During the three and six months ended June 30, 2022, the expense relating to the plan was $4.6 million and $10.3 million, respectively. During the three and six months ended June 30, 2021, the expense relating to the plan was $4.3 million and $9.6 million, respectively.