Pension Benefit and Other Postretirement Benefit Plans

3 Months Ended

Mar. 31, 2012

Pension Benefit and Other Postretirement Benefit Plans

Note 9 – Pension Benefit and Other Postretirement Benefit Plans

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost for the periods indicated are:

(Dollars in thousands)
	Pension Benefits						Retirement Health and Life Insurance Benefits
	Three Months Ended						Three Months Ended
Change in benefit obligation:	March 31, 2012			March 31, 2011			March 31, 2012			March 31, 2011
Service cost	$	1,189		$	1,060		$	182		$	176
Interest cost		2,118			2,116			88			97
Expected return on plan assets		(2,408	)		(2,591	)		-			-
Amortization of prior service cost		116			150			(113	)		(157	)
Amortization of net loss		1,349			553			115			81
Special benefits acceleration		-			-			-			-
Special termination benefit		-			-			2,300			-
Net periodic benefit cost	$	2,364		$	1,288		$	2,572		$	197

As a result of the early retirement program that we offered in the first quarter of 2012, we incurred a $2.3 million special termination benefit associated with our retirement health and life insurance benefits program, as we extended eligibility in the benefits to certain individuals who participated in the early retirement program.

Employer Contributions

We made $10.0 million in voluntary contributions to our qualified defined benefit pension plans during the first quarter of 2012.  For the first quarter of 2011, we did not have any voluntary contributions.

We made no payments under our non-qualified defined benefit pension plan in the first quarter of 2012 and only de minimis payments were made in the first quarter of 2011.