NOTE 9: RETIREMENT BENEFIT OBLIGATIONS

The Company co-sponsors the Unitil Corporation Retirement Plan (Pension Plan), the Unitil Retiree Health and Welfare Benefits Plan (PBOP Plan), and the Unitil Corporation Supplemental Executive Retirement Plan (SERP) to provide certain pension and postretirement benefits for its retirees and current employees. Please see Note 10 to the Consolidated Financial Statements in the Company’s Form 10-K for the year ended December 31, 2018 as filed with the SEC on January 31, 2018 for additional information regarding these plans.

The following table includes the key weighted average assumptions used in determining the Company’s benefit plan costs and obligations:


Used to Determine Plan Costs	2019			2018
Discount Rate		4.25	%		3.60	%
Rate of Compensation Increase		3.00	%		3.00	%
Expected Long-term rate of return on plan assets		7.75	%		7.75	%
Health Care Cost Trend Rate Assumed for Next Year		7.00	%		7.50	%
Ultimate Health Care Cost Trend Rate		4.50	%		4.50	%
Year that Ultimate Health Care Cost Trend Rate is reached		2024			2024

The following table provides the components of the Company’s Retirement plan costs ($000’s):


	Pension Plan						PBOP Plan						SERP
Three Months Ended March 31,	2019			2018			2019			2018			2019			2018
Service Cost	$	776		$	848		$	576		$	733		$	60		$	122
Interest Cost		1,621			1,469			856			851			139			101
Expected Return on Plan Assets		(2,119	)		(1,946	)		(411	)		(409	)		—			—
Prior Service Cost Amortization		80			81			303			327			3			47
Actuarial Loss Amortization		1,081			1,447			57			346			158			122

Sub-total		1,439			1,899			1,381			1,848			360			392
Amounts Capitalized and Deferred		(412	)		(720	)		(474	)		(742	)		(103	)		(113	)

Net Periodic Benefit Cost Recognized	$	1,027		$	1,179		$	907		$	1,106		$	257		$	279

Employer Contributions

As of March 31, 2019, the Company had made $1.3 million and $0.4 million of contributions to its Pension Plan and PBOP Plan, respectively, in 2019. The Company, along with its subsidiaries, expects to continue to make contributions to its Pension and PBOP Plans in 2019 and future years at minimum required and discretionary funding levels consistent with the amounts recovered in the distribution utilities’ rates for these Pension and PBOP Plan costs.

As of March 31, 2019, the Company had made $0.1 million of benefit payments under the SERP Plan in 2019. The Company presently anticipates making an additional $0.5 million of benefit payments under the SERP Plan in 2019.