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Employee Pension Plans
 9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Employee Pension Plans Employee Pension Plans
The Company has a defined benefit pension plan and an unfunded supplemental retirement plan. Effective June 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 a summary of the net periodic benefit cost for the three and nine months ended September 30, 2022 and 2021:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2022202120222021
Interest cost$647 $582 $1,940 $1,746 
Service cost240 236 720 709 
Expected return on plan assets(973)(1,015)(2,919)(3,045)
Recognized net actuarial losses639 683 1,916 2,049 
Net periodic benefit cost$553 $486 $1,657 $1,459 
Due to the election of certain options provided under the American Rescue Plan Act of 2021, enacted on March 11, 2021, the Company is not required to, and does not intend to, contribute amounts to the defined benefit pension plan in 2022. The Company contributed $1.0 million to its defined benefit pension plan during the nine months ended September 30, 2021.