Employee Benefit Plans

6 Months Ended

Jun. 30, 2021

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The net periodic pension cost for the Corporation’s Defined Benefit Pension Plan ("Pension Plan") consisted of the following components:

	Three months ended June 30				Six months ended June 30
	2021		2020		2021		2020
	(in thousands)
Interest cost	$	561	$	681	$	1,122	$	1,362
Expected return on plan assets	(1,011)		(982)		(2,022)		(1,964)
Net amortization and deferral	504		465		1,008		930
Net periodic pension cost	$	54	$	164	$	108	$	328

The components of the net benefit for the Corporation’s Postretirement Benefits Plan ("Postretirement Plan") consisted of the following components:

	Three months ended June 30				Six months ended June 30
	2021		2020		2021		2020
	(in thousands)
Interest cost	$	8	$	11	$	16	$	22
Net accretion and deferral	(134)		(137)		(268)		(274)
Net periodic benefit	$	(126)	$	(126)	$	(252)	$	(252)

The Corporation recognizes the funded status of its Pension Plan and Postretirement Plan on the consolidated balance sheets and recognizes the change in that funded status through other comprehensive income.