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Pension Plan
9 Months Ended
Sep. 30, 2017
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]

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
September 30

Nine months ended
 September 30

In thousands

2017

 

 2016

 

 2017

 

 2016

Interest cost

$

117

 

$

124

 

$

350

 

$

365

Expected return on plan assets

(180)

(168)

(539)

(504)

Amortization of net actuarial loss

 

54

 

 

53

 

 

163

 

 

149

Net periodic pension cost

$

(9)

 

$

9

 

$

(26)

 

$

10


As of September 30, 2017 and December 31, 2016, the Company had recorded a current pension liability of $719,000 and $660,000, respectively, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets, and a long-term pension liability of $3.4 million and $3.8 million, respectively, 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 $444,000.  In 2017, the Company has made $298,000 of contributions.