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Pension and Other Postretirement Benefit Plans
 6 Months Ended
Jun. 30, 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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Three months ended

 

Six months ended

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June 30, 

 

June 30, 

(In thousands)

    

2022

    

2021

    

2022

    

2021

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​

​

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​

​

​

​

​

​

​

Employee Pension Plan:

 

​

  

 

​

  

 

​

  

 

​

  

Interest cost

​

$

138

​

$

128

​

$

276

​

$

256

Amortization of unrecognized loss

​

 

1

​

 

122

​

 

2

​

 

244

Expected return on plan assets

​

 

(258)

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(274)

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(515)

​

 

(548)

Net employee pension benefit

​

$

(119)

​

$

(24)

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$

(237)

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$

(48)

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​

​

​

​

​

​

​

​

​

​

​

​

Outside Director Pension Plan:

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​

 

  

​

 

  

​

 

  

Service cost

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$

3

​

$

4

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$

6

​

$

8

Interest cost

​

 

12

​

 

12

​

 

23

​

 

24

Amortization of unrecognized gain

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(7)

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(5)

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(14)

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(10)

Net outside director pension expense

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$

8

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$

11

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$

15

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$

22

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​

​

​

​

​

​

​

​

​

​

​

​

Other Postretirement Benefit Plans:

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​

 

  

​

 

  

​

 

  

Service cost

​

$

67

​

$

73

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$

134

​

$

146

Interest cost

​

 

69

​

 

58

​

 

139

​

 

116

Amortization of actuarial gain

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​

—

​

​

16

​

​

—

​

​

16

Amortization of past service credit

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(7)

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(21)

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(14)

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(43)

Net other postretirement expense

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$

129

​

$

126

​

$

259

​

$

235

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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 June 30, 2022, the Company had contributed $72,000 to the Outside Director Pension Plan and $21,000 tto the Other Postretirement Benefit Plans. As of June 30, 2022, the Company has not revised its expected contributions for the year ending December 31, 2022.