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EMPLOYEE BENEFIT PLANS
6 Months Ended
Jun. 30, 2019
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS
Components of the net periodic benefit cost of PLC’s defined benefit pension plan for the three and six months ended June 30, 2019 and 2018, are as follows: 
 
For The
Three Months Ended
June 30,
 
For The
Six Months Ended
June 30,
 
2019
 
2018
 
2019
 
2018
 
Qualified
Pension
Plan

Nonqualified
Excess
Pension Plan
 
Qualified
Pension
Plan
 
Nonqualified
Excess
Pension Plan
 
Qualified
Pension
Plan
 
Nonqualified
Excess
Pension Plan
 
Qualified
Pension
Plan
 
Nonqualified
Excess
Pension Plan
 
(Dollars In Thousands)
Service cost — benefits earned during the period
$
3,114

 
$
285

 
$
3,441

 
$
387

 
$
6,228

 
$
570

 
$
6,882

 
$
774

Interest cost on projected benefit obligation
2,778

 
371

 
2,397

 
359

 
5,556

 
742

 
4,794

 
718

Expected return on plan assets
(4,463
)
 

 
(4,026
)
 

 
(8,926
)
 

 
(8,052
)
 

Amortization of actuarial loss

 
74

 

 
265

 

 
148

 

 
530

Preliminary net periodic benefit cost
1,429

 
730

 
1,812

 
1,011

 
2,858

 
1,460

 
3,624

 
2,022

Settlement/curtailment expense

 

 

 

 

 

 

 

Total net periodic benefit costs
$
1,429


$
730


$
1,812


$
1,011


$
2,858


$
1,460


$
3,624


$
2,022


During the six months ended June 30, 2019, PLC did not make a contribution to its defined benefit pension plan. PLC will make contributions in future periods as necessary to at least satisfy minimum funding requirements, to maintain an adjusted funding target attainment percentage (“AFTAP”) of at least 80% and to avoid certain Pension Benefit Guaranty Corporation (“PBGC”) reporting triggers. PLC may also make additional discretionary contributions in excess of the contribution amounts established by the current funding policy.