Note 7 – Pension Plan

As of December 31, 2003, the benefit service under the pension plan had been frozen and, accordingly, there is no service cost. As of April 30, 2009, the compensation increments had been frozen and, accordingly, no additional benefits are being accrued under the pension plan.

The following table presents the components of net periodic pension cost:

	Three months ended March 31
In thousands	2017		2016
Interest cost	$	116	$	120
Expected return on plan assets		(179)		(168)
Amortization of net actuarial loss		54		48
Net periodic pension cost	$	(9)	$	-

As of March 31, 2017, the Company had recorded a current pension liability of $880,000, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets, and a long-term pension liability of $3.5 million, which is included in Deferred pension liability and other in the Condensed Consolidated Balance Sheets. The minimum required contribution in 2017 is expected to be $660,000. In 2017, the Company made $220,000 of contributions, all of which was paid subsequent to March 31, 2017.