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Note 9 - Pension and Other Postretirement Benefit Plans
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Pension and Other Postretirement Benefits Disclosure [Text Block]
9.
Pension and Other Postretirement Benefit Plans
 
The following table sets forth information regarding the components of net expense for the pension and other postretirement benefit plans.
 
    Three months ended
June 30,
  Six months ended
June 30,
(In thousands)   2018   2017   2018   2017
                 
Employee Pension Plan:                                
Interest cost   $
195
    $
216
    $
390
    $
432
 
Amortization of unrecognized loss    
156
     
174
     
311
     
348
 
Expected return on plan assets    
(363
)    
(348
)    
(726
)    
(696
)
Net employee pension ( benefit) expense   $
(12
)   $
42
    $
(25
)   $
84
 
                                 
Outside Director Pension Plan:                                
Service cost   $
11
    $
10
    $
22
    $
20
 
Interest cost    
20
     
23
     
40
     
46
 
Amortization of unrecognized gain    
(23
)    
(23
)    
(46
)    
(46
)
Amortization of past service liability    
3
     
10
     
6
     
20
 
Net outside director pension expense   $
11
    $
20
    $
22
    $
40
 
                                 
Other Postretirement Benefit Plans:                                
Service cost   $
88
    $
79
    $
176
    $
158
 
Interest cost    
77
     
76
     
154
     
152
 
Amortization of past service credit    
(12
)    
(21
)    
(25
)    
(42
)
Net other postretirement expense   $
153
    $
134
    $
305
    $
268
 
 
The Company previously disclosed in its Consolidated Financial Statements for the year ended
December 31, 2017
that it expects to contribute
$0.2
million to each of the Outside Director Pension Plan (the “Outside Director Pension Plan”) and the other postretirement benefit plans (the “Other Postretirement Benefit Plans”), during the year ending
December 31, 2018.
The Company does
not
expect to make a contribution to the Employee Pension Plan (the “Employee Pension Plan”). As of
June 30, 2018,
the Company has contributed
$48,000
to the Outside Director Pension Plan and
$56,000
in contributions were made to the Other Postretirement Benefit Plans. As of
June 30, 2018,
the Company has
not
revised its expected contributions for the year ending
December 31, 2018.