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Defined Benefit Plans
 9 Months Ended
Sep. 30, 2015
Defined Benefit Plans [Abstract]  
Defined Benefit Plans

(7)           Defined Benefit Plans

 

Mid Penn has an unfunded noncontributory defined benefit retirement plan for directors.  The plan provides defined benefits based on years of service.  In addition, Mid Penn sponsors a defined benefit health care plan that provides post-retirement medical benefits and life insurance to qualifying full-time employees.  These health care and life insurance plans are noncontributory.  A December 31 measurement date for the plans is used.

 

The components of net periodic benefit costs from these benefit plans are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

(Dollars in thousands)

Pension Benefits

 

Other Benefits

 

2015

 

2014

 

2015

 

2014

Service cost

$
8 

 

$
8 

 

$
3 

 

$
3 

Interest cost

 
11 

 

 
13 

 

 
8 

 

 
9 

Amortization of prior service cost

 
4 

 

 
6 

 

 

 -

 

 
1 

       Net periodic benefit cost

$
23 

 

$
27 

 

$
11 

 

$
13 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

(Dollars in thousands)

Pension Benefits

 

Other Benefits

 

2015

 

2014

 

2015

 

2014

Service cost

$
25 

 

$
25 

 

$
9 

 

$
10 

Interest cost

 
34 

 

 
38 

 

 
24 

 

 
28 

Amortization of prior service cost

 
11 

 

 
15 

 

 

 -

 

 
1 

       Net periodic benefit cost

$
70 

 

$
78 

 

$
33 

 

$
39