Note 13.Pension Plan

We have a noncontributory nonqualified defined benefit pension plan (“Pension Plan”) covering certain eligible employees. Our Pension Plan provides retirement benefits under pension trust agreements. The benefits are based on years of service and the employee’s compensation during the highest three consecutive years during the last 10 years of employment.

Net periodic defined benefit pension expense for the three and nine months ended September 30, 2015 and 2014 included the following components:


	For the three months ended				For the nine months ended
	September 30,				September 30,
(In thousands)	2015		2014		2015		2014
Service cost	$	17	$	15	$	49	$	45
Interest cost		135		155		403		466
Amortization of prior service cost		22		22		68		66
Amortization of actuarial loss		46		32		140		96
Net periodic benefit cost	$	220	$	224	$	660	$	673

We have unfunded pension plan obligations of $15.4 million as of September 30, 2015 compared to $15.3 million at December 31, 2014. We plan to fund a substantial portion of the pension plan obligations through existing Company owned life insurance policies.