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Employee Pension Plans
 9 Months Ended
Sep. 30, 2014
Employee Pension Plans [Abstract]  
Employee Pension Plans

(13)     Employee Pension Plans

 

The Company has a defined benefit pension plan and an unfunded supplemental retirement plan. Effective September 1, 2004, all benefit accruals under the Company’s pension plan were frozen; however, the current vested benefit was preserved. The pension disclosure presented below includes aggregated amounts for both of the Company’s plans.

 

The following table sets forth the net periodic benefit cost by component for the three and nine months ended September 30, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

 

(in thousands)

 

(in thousands)

Interest cost

 

$
1,030 

 

$
917 

 

$
3,090 

 

$
2,750 

Expected return on plan assets

 

 
(1,192)

 

 
(1,121)

 

 
(3,576)

 

 
(3,361)

Amortization of net loss

 

 
1,077 

 

 
1,544 

 

 
3,231 

 

 
4,632 

Net periodic benefit cost

 

$
915 

 

$
1,340 

 

$
2,745 

 

$
4,021 

 

The Company contributed $4.1 million and $1.1 million to its defined benefit pension plan during the nine months ended 2014 and 2013, respectively. The Company expects to contribute an additional $0.9 million to its defined benefit pension plan during the remainder of fiscal year 2014.