Retirement Plans

9 Months Ended

Sep. 30, 2014

Retirement Plans [Abstract]

RETIREMENT PLANS

13. RETIREMENT PLANS

Retirement Plans

The Company has five retirement plans which cover its hourly and salaried employees in the United States: three defined benefit plans (one active / two frozen) and two defined contribution plans.  Employees are eligible to participate in the appropriate plan based on employment classification.  The Company's funding to the defined benefit and defined contribution plans are governed by the Employee Retirement Income Security Act of 1974 (ERISA), applicable plan policy and investment guidelines.  The Company’s policy is to contribute at least the minimum in accordance with the funding standards of ERISA.

The Company’s subsidiary, L.B. Foster Rail Technologies, Inc. (Rail Technologies), maintains two defined contribution plans for its employees in Canada, as well as a post-retirement benefit plan.  In the United Kingdom, Rail Technologies maintains both a defined contribution plan and a defined benefit plan. 

United States Defined Benefit Plans

Net periodic pension costs for the United States defined benefit pension plans for the three and nine-month periods ended September 30, 2014 and 2013 are as follows:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Service cost	$	5	$	8	$	17	$	25
Interest cost		193		177		578		530
Expected return on plan assets		(242)		(214)		(726)		(642)
Recognized net actuarial loss		16		53		49		159
Net periodic pension (income) cost	$	(28)	$	24	$	(82)	$	72

The Company expects to contribute approximately $408 to its United States defined benefit plans in 2014.  Contributions of approximately $300 were made during the nine months ended September 30, 2014.

United Kingdom Defined Benefit Plans

Net periodic pension costs for the United Kingdom defined benefit pension plan for the three and nine-month periods ended September 30, 2014 and 2013 are as follows:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Interest cost	$	97	$	85	$	297	$	255
Expected return on plan assets		(92)		(73)		(281)		(219)
Amortization of transition amount		(7)		(12)		(21)		(36)
Recognized net actuarial loss		49		57		149		171
Net periodic pension cost	$	47	$	57	$	144	$	171

United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. Employer contributions of $292 are anticipated to the United Kingdom L.B. Foster Rail Technologies, Inc. pension plan during 2014.  For the nine months ended September 30, 2014, the Company contributed approximately $219 to the plan. 

Defined Contribution Plans

The Company sponsors five defined contribution plans for hourly and salaried employees across our domestic and international facilities. The following table summarizes the expense associated with the contributions made to these plans.

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
Salaried Plan	$	672	$	478	$	1,751	$	1,422
Union Plan		20		18		59		53
Montreal Plan		20		28		65		88
United Kingdom Plan		32		27		100		95
Burnaby Plan		32		34		107		111
	$	776	$	585	$	2,082	$	1,769