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Employee Benefit Plans
3 Months Ended
Mar. 31, 2015
Employee Benefit Plans [Abstract]  
Employee Benefit Plans

 

NOTE 10 – EMPLOYEE BENEFIT PLANS

The following table provides the components of net periodic benefit cost for our pension plan and postretirement benefits plan for the three months ended March 31, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(All Amounts in Thousands)

 

 

Pension Plan

 

 

Postretirement Benefits

 

 

 

Three Months Ended March 31,

 

 

Three Months Ended March 31,

Components of net periodic benefit cost:

 

 

2015

 

 

2014

 

 

2015

 

 

2014

Service cost

 

$

171 

 

$

154 

 

$

 

$

Interest cost

 

 

359 

 

 

381 

 

 

118 

 

 

145 

Expected return on plan assets

 

 

(638)

 

 

(655)

 

 

 -

 

 

 -

Amortization of prior service cost

 

 

(1)

 

 

(1)

 

 

26 

 

 

25 

Amortization of Net Loss

 

 

111 

 

 

63 

 

 

37 

 

 

88 

Net periodic benefit cost (benefit)

 

$

 

$

(58)

 

$

189 

 

$

261 

 

We contributed $150,000 to our pension plan for the three months ended March 31, 2015.  We expect to contribute an additional $450,000 before December 31, 2015.