Post-retirement Plans

We have a post-retirement healthcare and other benefits plan that is available to certain of our employees who satisfy certain age and service requirements. The net periodic benefit expense of this plan consisted of the following components:



	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(In thousands)
Service cost – benefit earned during the period	$	224		$	278		$	448		$	556
Interest cost on projected benefit obligations	160			159			319			318
Amortization of prior service credit	(1,074		)	(1,474		)	(2,148		)	(2,948		)
Amortization of net loss	—			31			—			62
Loss on settlement	—			—			—			1,726
Net periodic post-retirement credit	$	(690	)	$	(1,006	)	$	(1,381	)	$	(286	)

In 2012, our Compensation Committee, pursuant to authority delegated to it by the Board of Directors, approved the termination of the HollyFrontier Corporation Pension Plan (the “Plan”), a non-contributory defined benefit retirement plan that covered certain employees and was fully frozen effective May 1, 2012. In the second quarter of 2013, the Plan was liquidated and we recognized a pre-tax pension settlement charge of $30.9 million, of which $29.0 million was reclassified out of accumulated other comprehensive income, representing the irrevocable portion of our obligation.

Additionally, we have a program that provides certain transition benefit payments to certain employees that participated in the defined benefit plan that was terminated. The program extends through 2014 and provides payments after year-end provided the employee is employed by us on the last day of each year. The payments are based on each employee's years of service and eligible salary. Transition benefit costs under this program were $2.9 million and $2.9 million for the three months ended June 30, 2014 and 2013, respectively, and $5.5 million and $5.8 million for the six months ended June 30, 2014 and 2013, respectively.