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Employee Pension Plans
 9 Months Ended
Sep. 30, 2016
Employee Pension Plans [Abstract]  
Employee Pension Plans

(12)     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 these plans 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 for the three and nine months ended September 30, 2016 and 2015:





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Three Months Ended September 30,

 

Nine Months Ended September 30,

(in thousands)

2016

 

2015

 

2016

 

2015

Interest cost

$

 1,053 

 

$

 1,008 

 

$

 3,159 

 

$

 3,030 

Expected return on plan assets

 

 (1,203)

 

 

 (1,256)

 

 

 (3,609)

 

 

 (3,768)

Amortization (adjustment) of net loss

 

 427 

 

 

 (1,417)

 

 

 1,281 

 

 

 1,503 

Other

 

 150 

 

 

 —

 

 

 450 

 

 

 —

Net periodic benefit cost

$

 427 

 

$

 (1,665)

 

$

 1,281 

 

$

 765 





The Company contributed $1.3 million and $2.3 million to its defined benefit pension plan during the nine months ended September 30, 2016 and 2015, respectively. The Company expects to contribute an additional $0.5 million to its defined benefit pension plan during the remainder of fiscal year 2016.