Components of Net Periodic Benefit Cost

3 Months Ended

Mar. 31, 2020



	Three Months Ended March 31,
	(000's)
	Pension Benefits						Post-Retirement Health Benefits
	2020			2019			2020		2019
Service cost	$	325		$	304		$	10	$	9
Interest cost	779			866			31		36
Expected return on plan assets	(1,050		)	(896		)	—		—
Net amortization of prior service cost	—			—			—		—
Net amortization of net (gain) loss	492			389			—		(4		)
Net Periodic Benefit Cost	$	546		$	663		$	41	$	41

Employer Contributions

First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2019 that it expected to contribute $3.7 million and $736 thousand respectively to its Pension Plan and ESOP and $251 thousand to the Post Retirement Health Benefits Plan in 2020. Contributions of $435 thousand have been made to the Pension Plan thus far in 2020. Contributions of $60 thousand have been made through the first three months of 2020 for the Post Retirement Health Benefits plan. No contributions have been made in 2020 for the ESOP. The Pension plan was frozen for most employees at the end of 2012 and for those employees there will be discretionary contributions to the ESOP plan and a 401K plan in place of the former Pension benefit. In the first three months of 2020 and 2019 there has been $412 thousand and $390 thousand of expense accrued for potential contributions to these alternative retirement benefit options.