RETIREMENT PLANS

9 Months Ended

Sep. 30, 2019

RETIREMENT PLANS

RETIREMENT PLANS

11. RETIREMENT PLANS

The Company has noncontributory defined benefit pension plans for eligible employees in its International Telecom segment who meet certain eligibility criteria. The Company also has a noncontributory defined medical, dental, vision, and life benefit plan for eligible employees in its International Telecom segment who meet certain eligibility criteria.

The Company recorded the net periodic benefit cost identified below (in thousands):

	Three months ended
	September 30, 2019				September 30, 2018
	Pension benefits		Postretirement benefits		Pension benefits		Postretirement benefits
Operating expense
Service cost	$	447	$	37	$	448	$	37
Non-operating expense
Interest cost		841		40		820		40
Expected return on plan assets		(1,263)		—		(1,209)		—
Actuarial gain/ loss		7		(17)		30		(17)
Net periodic pension expense	$	32	$	60	$	89	$	60

	Nine months ended
	September 30, 2019				September 30, 2018
	Pension benefits		Postretirement benefits		Pension benefits		Postretirement benefits
Operating expense
Service cost	$	1,342	$	111	$	1,345	$	111
Non-operating expense
Interest cost		2,524		120		2,459		120
Expected return on plan assets		(3,790)		—		(3,627)		—
Actuarial gain/ loss		22		(51)		91		(51)
Net periodic pension expense	$	98	$	180	$	268	$	180

The Company is not required to make contributions to its pension and postretirement benefit plans.   However, the Company periodically evaluates whether to make discretionary contributions. The Company contributed $0.3 million and $2.1 million during the nine months ended September 30, 2019 and 2018, respectively.