Pension Plan

Park has a noncontributory defined benefit pension plan covering substantially all of its employees. The plan provides benefits based on an employee’s years of service and compensation.

Park generally contributes annually an amount that can be deducted for federal income tax purposes using a different actuarial cost method and different assumptions from those used for financial reporting purposes. There were no pension plan contributions for the three-month and nine-month periods ended September 30, 2015 and 2014.

The following table shows the components of net periodic benefit income:



	Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)	2015			2014			2015			2014
Service cost	$	1,342		$	1,083		$	4,026		$	3,249
Interest cost	1,174			1,144			3,522			3,432
Expected return on plan assets	(2,855		)	(2,717		)	(8,565		)	(8,151		)
Amortization of prior service cost	4			5			12			15
Recognized net actuarial loss	159			—			477			—
Net periodic benefit income	$	(176	)	$	(485	)	$	(528	)	$	(1,455	)