11.	RETIREMENT FUND AND PROFIT SHARING PLAN

The Company maintains the Bel Fuse Inc. Employees’ Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections

401

(a) and (k) of the Internal Revenue Code of

1986,

as amended (the “Code”). The expense for the

three

months ended

September 30, 2019

and

2018

amounted to

$0.3

million in both periods. The expense for the

nine

months ended

September 30, 2019

and

2018

amounted to

$0.8

million in both periods. The Company’s matching contribution is made in the form of Bel Fuse Inc. Class A common stock. As of

September 30, 2019

, the plan owned

153,352

and

109,442

shares of Bel Fuse Inc. Class A and Class B common stock, respectively.

The Company's subsidiaries in Asia have a retirement fund covering substantially all of their Hong Kong based full-time employees. The expense for the

three

months ended

September 30, 2019

and

2018

amounted to

$0.1

million in both periods. The expense for the

nine

months ended

September 30, 2019

and

2018

amounted to

$0.3

million in both periods. As of

September 30, 2019

, the plan owned

3,323

and

17,342

shares of Bel Fuse Inc. Class A and Class B common stock, respectively.

The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. As discussed in Note

above, the Company has investments in a rabbi trust which are intended to fund the obligations of the SERP.

The components of SERP expense are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Service cost	$	144	$	183	$	432	$	549
Interest cost		185		166		555		498
Net amortization		48		111		144		332
Net periodic benefit cost	$	377	$	460	$	1,131	$	1,379

The service cost component of net benefit cost is presented within cost of sales or selling, general and administrative expense on the accompanying condensed consolidated statements of operations, in accordance with where compensation cost for the related associate is reported. All other components of net benefit cost, including interest cost and net amortization noted above, are presented within other income/expense, net in the accompanying condensed consolidated statements of operations.

The following amounts are recognized net of tax in accumulated other comprehensive loss:

	September 30,		December 31,
	2019		2018
Prior service cost	$	783	$	918
Net loss		1,968		1,977
	$	2,751	$	2,895