Retirement Benefits

6 Months Ended

Jun. 30, 2020

Postemployment Benefits [Abstract]

Retirement Benefits

Retirement Benefits

The components of net periodic benefit expense related to the non-contributory, defined benefit pension plan for the three and six month periods ended June 30 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30
In thousands	2020			2019			2020			2019
Service cost	$	188		$	174		$	376		$	348
Interest cost	270			303			540			606
Expected return on plan assets	(687		)	(637		)	(1,374		)	(1,274		)
Amortization of net loss	169			213			338			425
Net Periodic Benefit Expense	$	(60	)	$	53		$	(120	)	$	105

The Corporation previously disclosed in its consolidated financial statements for the year ended December 31, 2019, that it had not yet determined the amount the Bank planned on contributing to the defined benefit plan in 2020. As of June 30, 2020, this contribution amount had still not been determined. Effective April 1, 2012, no inactive or former participant in the plan is eligible to again participate in the plan, and no employee hired after March 31, 2012, is eligible to participate in the plan. As of the last annual census, ACNB Bank had a combined 348 active, vested, terminated and retired persons in the plan.