The Company sponsors noncontributory defined benefit (pension) plans covering certain current and former employees. The plan for salaried and hourly employees currently in effect is based on a formula using the participant’s years of service and compensation or using the participant’s years of service and a dollar amount. The plan was closed to new participants and pay for active plan participants for benefit calculations was frozen as of December 31, 2007. As of January 31, 2018, the plan no longer accrued benefits associated with crediting employees for service, thereby freezing future benefits under the plan.

The components of net periodic benefit cost for the pension and other post-retirement benefit programs reflected in the consolidated statements of income are shown below:



	Pension Benefits						Other Post-Retirement Benefits
	Three Months Ended June 30,						Three Months Ended June 30,
(In thousands)	2018			2017			2018			2017
Service cost	$	5		$	58		$	10		$	9
Interest cost	2,882			3,164			69			77
Expected return on plan assets	(3,761		)	(3,737		)	—			—
Amortization of prior service costs, gains or losses and net transition asset	3,428			3,122			(54		)	(62		)
Net periodic benefit cost	$	2,554		$	2,607		$	25		$	24
	Pension Benefits						Other Post-Retirement Benefits
	Six Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Service cost	$	10		$	116		$	20		$	18
Interest cost	5,764			6,328			138			153
Expected return on plan assets	(7,522		)	(7,473		)	—			—
Amortization of prior service costs, (gains) losses and net transition asset	6,856			6,245			(108		)	(123		)
Net periodic benefit cost	$	5,108		$	5,216		$	50		$	48

Pension and other post-retirement liabilities were $94.9 million and $99.5 million at June 30, 2018 and December 31, 2017, respectively ($0.6 million included in “Accrued expenses” at June 30, 2018 and December 31, 2017, with the remainder included in “Pension and other postretirement benefit obligations, net” in the consolidated balance sheets). The Company’s required contributions are expected to be approximately $8.4 million in 2018. Contributions to the pension plan during the first six months of 2018 were $2.9 million. Tredegar funds its other post-retirement benefits (life insurance and health benefits) on a claims-made basis, which the Company anticipates will be consistent with amounts paid for the year ended December 31, 2017, or $0.3 million.