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Employee Pension Plans
 6 Months Ended
Jun. 30, 2015
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 six months ended June 30, 2015 and 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2015

 

2014

 

2015

 

2014

 

(in thousands)

 

(in thousands)

Interest cost

$
1,011 

 

$
1,030 

 

$
2,022 

 

$
2,060 

Expected return on plan assets

 
(1,256)

 

 
(1,192)

 

 
(2,512)

 

 
(2,384)

Amortization of net loss

 
1,460 

 

 
1,077 

 

 
2,920 

 

 
2,154 

Net periodic benefit cost

$
1,215 

 

$
915 

 

$
2,430 

 

$
1,830 

 

The Company contributed $1.4 million and $1.5 million to its defined benefit pension plan during the six months ended June 30, 2015 and 2014, respectively. The Company expects to contribute an additional $1.3 million to its defined benefit pension plan during the remainder of fiscal year 2015.