Retirement Plans

9 Months Ended

Sep. 30, 2016

Retirement Plans [Abstract]

RETIREMENT PLANS

13. RETIREMENT PLANS

Retirement Plans

The Company has seven retirement plans which cover its hourly and salaried employees in the United States: three defined benefit plans (one active / two frozen) and four defined contribution plans.  Employees are eligible to participate in the appropriate plan based on employment classification.  The Company's funding contributions 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 two defined contribution plans 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, 2016 and 2015 are as follows:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015
Service cost	$	9	$	10	$	27	$	29
Interest cost		186		185		559		555
Expected return on plan assets		(179)		(203)		(538)		(611)
Recognized net actuarial loss		69		69		207		207
Net periodic pension cost	$	85	$	61	$	255	$	180

The Company does not expect to contribute to its United States defined benefit plans in 2016.

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, 2016 and 2015 are as follows:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015
Interest cost	$	73	$	78	$	223	$	231
Expected return on plan assets		(82)		(83)		(250)		(249)
Amortization of prior service costs and transition amount		5		5		15		15
Recognized net actuarial loss		38		60		116		177
Net periodic pension cost	$	34	$	60	$	104	$	174

United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. Employer contributions of approximately $240 are anticipated to the United Kingdom L.B. Foster Rail Technologies, Inc. pension plan during 2016.  For the nine months ended September 30, 2016, the Company contributed approximately $180 to the plan. 

Defined Contribution Plans

The Company sponsors eight 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,
		2016		2015		2016		2015
United States	$	152	$	413	$	1,289	$	1,842
Canada		46		54		164		167
United Kingdom		64		162		281		360
	$	262	$	629	$	1,734	$	2,369