Employee Benefit Plans

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

We sponsor a noncontributory defined benefit pension plan and non-qualified Supplemental Executive Retirement Plans ("SERPs"). The accrual for future benefits has been frozen in our defined benefit pension plan and SERPs.

We sponsor a defined contribution plan covering substantially all non-union and certain union employees. We match a portion of employees' voluntary contributions to this plan.

Other union-represented employees are covered by defined benefit pension plans jointly sponsored by us and the union, or by union-sponsored multi-employer plans.

The components of the employee benefit plan expense consisted of the following:

	Three Months Ended  June 30,				Six Months Ended  June 30,
(in thousands)	2023		2022		2023		2022
Interest cost	$	5,935	$	4,333	$	11,870	$	8,666
Expected return on plan assets, net of expenses	(6,307)		(6,224)		(12,613)		(12,448)
Amortization of actuarial loss and prior service cost	4		1,015		9		2,029
Total for defined benefit pension plan	(368)		(876)		(734)		(1,753)
SERPs	234		214		466		428
Defined contribution plan	4,166		3,871		8,595		8,324
Net periodic benefit cost	$	4,032	$	3,209	$	8,327	$	6,999

We contributed $0.6 million to fund current benefit payments for our SERPs during the six months ended June 30, 2023. During the remainder of 2023, we anticipate contributing an additional $0.8 million to fund the SERPs' benefit payments. We have met regulatory funding requirements for our qualified benefit pension plan and do not have a mandatory contribution in 2023.