EMPLOYEE BENEFIT PLAN

3 Months Ended

Mar. 31, 2017

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN

8. EMPLOYEE BENEFIT PLAN

The following represents the net periodic benefit cost and related components of the Company’s multiple employers Retirement Income Plan:

	Three months ended March 31
(in thousands)	2017			2016
Interest cost	$	483		$	502
Expected return on plan assets		(589	)		(534	)
Amortization of net losses		213			200
Net periodic benefit cost	$	107		$	168

The Company did not contribute to this plan during the three months ended March 31, 2017 and contributed $900,000 during the three months ended March 31, 2016.

The Company permits selected highly compensated employees to defer a portion of their compensation into the non-qualified Supplemental Retirement Plan (“SERP”). The SERP assets are marked to market and totaled $19,313,000 as of March 31, 2017 and $18,367,000 as of December 31, 2016. The SERP assets are reported in non-current other assets on the consolidated balance sheets and changes in the fair value of these assets are reported in the consolidated statements of operations as compensation cost in selling, general and administrative expenses. Trading gains (losses) related to the SERP assets were approximately as follows:

	Three months ended  March 31
(in thousands)	2017		2016
Trading gains (losses), net	$	616	$	(327	)

The SERP liability includes participant deferrals net of distributions and is recorded on the consolidated balance sheets in long-term pension liabilities with any change in the fair value of the liabilities recorded as compensation cost within selling, general and administrative expenses in the consolidated statements of operations.