Defined Benefit Plan

6 Months Ended

Jun. 30, 2015

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Defined Benefit Plan

Defined Benefit Plan

Maxwell SA, the Company's Swiss subsidiary, has a retirement plan that is classified as a defined benefit pension plan. The employee pension benefit is based on compensation, length of service and credited investment earnings. The plan guarantees both a minimum rate of return as well as minimum annuity purchase rates. The Company’s funding policy with respect to the pension plan is to contribute the amount required by Swiss law, using the required percentage applied to the employee’s compensation. In addition, participating employees are required to contribute to the pension plan. This plan has a measurement date of December 31.

Components of net periodic pension benefit are as follows (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Service cost	$	245		$	217		$	487		$	434
Interest cost	85			179			169			357
Expected return on plan assets	(396		)	(458		)	(788		)	(915		)
Prior service cost amortization	36			36			71			72
Deferred loss amortization	11			—			22			—
Net periodic pension benefit	$	(19	)	$	(26	)	$	(39	)	$	(52	)

Employer contributions of $174,000 and $184,000 were paid during the three months ended June 30, 2015 and 2014, respectively. Employer contributions of $339,000 and $371,000 were paid during the six months ended June 30, 2015 and 2014, respectively. Additional employer contributions of approximately $241,000 are expected to be paid during the remainder of fiscal 2015.