Employee Pension Plans

6 Months Ended

Jun. 30, 2014

Employee Pension Plans

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, 2014 and 2013:

	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)
Interest cost	$	1,030		$	917		$	2,060		$	1,833
Expected return on plan assets	(1,192		)	(1,120		)	(2,384		)	(2,240		)
Amortization of net loss	1,077			1,544			2,154			3,088
Net periodic benefit cost	$	915		$	1,341		$	1,830		$	2,681

The Company contributed $1.5 million and $0.6 million to its defined benefit pension plan during the first half of 2014 and 2013, respectively. The Company expects to contribute an additional $3.5 million to its defined benefit pension plan during the remainder of fiscal year 2014.