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Pension and Other Postretirement Benefit Plans | 9 Months Ended
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Sep. 30, 2021
Notes To Financial Statements |
Pension and Other Postretirement Benefit Plans | 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 |  | Nine months ended
​ |  | September 30, |  | September 30,
(In thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Employee Pension Plan: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Interest cost | ​ | $ | 128 | ​ | $ | 163 | ​ | $ | 384 | ​ | $ | 489
Amortization of actuarial loss | ​ |  | 122 | ​ |  | 111 | ​ |  | 366 | ​ |  | 333
Expected return on plan assets | ​ |  | (274) | ​ |  | (257) | ​ |  | (822) | ​ |  | (771)
Net employee pension (benefit) expense | ​ | $ | (24) | ​ | $ | 17 | ​ | $ | (72) | ​ | $ | 51
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Outside Director Pension Plan: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Service cost | ​ | $ | 4 | ​ | $ | 4 | ​ | $ | 12 | ​ | $ | 11
Interest cost | ​ |  | 12 | ​ |  | 16 | ​ |  | 36 | ​ |  | 48
Amortization of actuarial gain | ​ |  | (5) | ​ |  | (14) | ​ |  | (15) | ​ |  | (41)
Amortization of past service liability | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Net outside director pension expense | ​ | $ | 11 | ​ | $ | 6 | ​ | $ | 33 | ​ | $ | 18
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Postretirement Benefit Plans: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Service cost | ​ | $ | 73 | ​ | $ | 69 | ​ | $ | 219 | ​ | $ | 206
Interest cost | ​ |  | 58 | ​ |  | 64 | ​ |  | 174 | ​ |  | 194
Amortization of actuarial gain | ​ |  | 8 | ​ |  | — | ​ |  | 24 | ​ |  | —
Amortization of past service credit | ​ |  | (21) | ​ |  | (21) | ​ |  | (63) | ​ |  | (64)
Net other postretirement expense | ​ | $ | 118 | ​ | $ | 112 | ​ | $ | 354 | ​ | $ | 336
​ The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2020 that it expects to contribute $0.3 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, 2021. The Company does not expect to make a contribution to the Employee Pension Plan (the “Employee Pension Plan”). As of September 30, 2021, the Company had contributed $108,000 to the Outside Director Pension Plan and $97,000 in contributions were made to the Other Postretirement Benefit Plans. As of September 30, 2021, the Company has not revised its expected contributions for the year ending December 31, 2021.

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