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Pension and Other Postretirement Benefit Plans
 3 Months Ended
Mar. 31, 2022
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.

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​

​

​

​

​

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Three months ended

​

 

March 31, 

(In thousands)

    

2022

    

2021

​

​

​

​

​

​

​

Employee Pension Plan:

 

​

  

 

​

  

Interest cost

​

$

138

​

$

128

Amortization of unrecognized loss

​

 

1

​

 

122

Expected return on plan assets

​

 

(257)

​

 

(274)

Net employee pension benefit

​

$

(118)

​

$

(24)

​

​

​

​

​

​

​

Outside Director Pension Plan:

​

 

  

​

 

  

Service cost

​

$

3

​

$

4

Interest cost

​

 

11

​

 

12

Amortization of unrecognized gain

​

 

(7)

​

 

(5)

Net outside director pension expense

​

$

7

​

$

11

​

​

​

​

​

​

​

Other Postretirement Benefit Plans:

​

 

  

​

 

  

Service cost

​

$

67

​

$

73

Interest cost

​

 

70

​

 

58

Amortization of past service credit

​

 

(7)

​

 

(21)

Net other postretirement expense

​

$

130

​

$

110

​

The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2021 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, 2022. The Company does not expect to make a contribution to the Employee Pension Plan (the “Employee Pension Plan”). As of March 31, 2022, the Company had contributed $36,000 to the Outside Director Pension Plan and $2,500 in contributions were made to the Other Postretirement Benefit Plans. As of March 31, 2022, the Company has not revised its expected contributions for the year ending December 31, 2022.