Components of Net Periodic Pension Cost

3 Months Ended

Mar. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Components of Net Periodic Pension Cost

Note 10. Components of Net Periodic Pension Cost

The Company maintained a non-contributory defined benefit pension plan for substantially all of its employees until March 31, 2007, at which time the Company froze the plan. The following table sets forth the net periodic pension cost of the Company’s pension plan for the periods indicated.

	Three Months Ended
	March 31,
	2016		2015
Interest cost	$	128	$	138
Expected return on plan assets		(136)		(137)
Net amortization		102		108
Recognized settlement loss		-		450
Total periodic pension expense	$	94	$	559
Net actuarial gain	$	(101)	$	(742)
Total recognized in other comprehensive income	$	(101)	$	(742)
Total recognized in net periodic expense and other
comprehensive income (before tax)	$	(7)	$	(183)

Contributions

As of March 31, 2016, The Company intended to contribute $2.0 million to its Pension Trust during the second quarter of 2016. (As intended, the company contributed $2.0 million to its Pension Trust in April 2016). The trust is established to provide retirement and other benefits for eligible employees and their beneficiaries. No part of the trust assets may be applied to any purpose other than providing benefits under the plan and for defraying expenses of administering the plan and the trust.