Note H - Components of Net Periodic Benefit Cost

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

Note H — Components of Net Periodic Benefit Cost

Prior to

January 

1,

1999,

we provided a defined benefit pension plan for which most of our employees were eligible to participate (the “Qualified Pension Plan”).  In conjunction with significant enhancements to our

401

(k) plan, we elected to freeze benefits under the Qualified Pension Plan as of

December 

31,

1998.

In

1994,

we adopted a non-qualified, unfunded, supplemental pension plan (the “Restoration Pension Plan”) covering certain employees, which provides for incremental pension payments so that total pension payments equal those amounts that would have been payable from the principal pension plan were it

not

for limitations imposed by income tax regulation. The benefits under the Restoration Pension Plan were intended to provide benefits equivalent to our Qualified Pension Plan as if such plan had

not

been frozen. We elected to freeze benefits under the Restoration Pension Plan as of

April 

1,

2014.

Net pension cost for both plans included the following components:

	Three Months Ended September 30,						Nine Months Ended September 30,
In thousands	2020			2019			2020			2019
Interest cost	$	1,473		$	1,813		$	4,419		$	5,439
Expected return on plan assets		(1,384	)		(1,111	)		(4,152	)		(3,333	)
Recognized actuarial loss		812			732			2,436			2,197
Net periodic benefit cost	$	901		$	1,434		$	2,703		$	4,303

We are required to make a

$6.0

 million minimum contribution to our Qualified Pension Plan in

2020

.

We are

not

required to make, and do

not

intend to make, any contributions to our Restoration Pension Plan other than to the extent needed to cover benefit payments. We made benefit payments under this supplemental plan of

$1.3

 million in each of the

nine

 months ended

September 30, 2020

and

September 30, 2019

.