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Employee Benefit Plans
6 Months Ended
Jun. 30, 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 June 30, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(All Amounts in Thousands)

 

 

Pension Plan

 

 

Postretirement Benefits

 

 

 

Three Months Ended June 30,

 

 

Three Months Ended June 30,

Components of net periodic benefit cost:

 

 

2015

 

 

2014

 

 

2015

 

 

2014

Service cost

 

$

171 

 

$

155 

 

$

 

$

Interest cost

 

 

359 

 

 

381 

 

 

118 

 

 

144 

Expected return on plan assets

 

 

(638)

 

 

(571)

 

 

 -

 

 

 -

Amortization of prior service cost

 

 

(1)

 

 

(1)

 

 

26 

 

 

25 

Amortization of net loss

 

 

111 

 

 

 

 

37 

 

 

(1)

Net periodic benefit cost (benefit)

 

$

 

$

(35)

 

$

189 

 

$

172 

 

The following table provides the components of net periodic benefit cost for our pension plan and postretirement benefits plan for the six months ended June 30, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(All Amounts in Thousands)

 

 

Pension Plan

 

 

Postretirement Benefits

 

 

 

Six Months Ended June 30,

 

 

Six Months Ended June 30,

Components of net periodic benefit cost:

 

 

2015

 

 

2014

 

 

2015

 

 

2014

Service cost

 

$

342 

 

$

309 

 

$

16 

 

$

Interest cost

 

 

718 

 

 

762 

 

 

236 

 

 

289 

Expected return on plan assets

 

 

(1,276)

 

 

(1,226)

 

 

                -

 

 

                   -

Amortization of prior service cost

 

 

(2)

 

 

(1)

 

 

52 

 

 

50 

Amortization of net loss

 

 

222 

 

 

64 

 

 

74 

 

 

87 

Net periodic benefit cost (benefit)

 

$

 

$

(92)

 

$

378 

 

$

433 

 

We contributed $150,000 to our pension plan for the six months ended June 30, 2015.  We expect to contribute an additional $450,000 before December 31, 2015.