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EMPLOYEE BENEFIT PLANS
 3 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE BENEFIT PLANS
7. EMPLOYEE BENEFIT PLANS
A majority of WESCO’s employees are covered by defined contribution retirement savings plans for their services rendered subsequent to WESCO’s formation. WESCO also offers a deferred compensation plan for select individuals. For U.S. participants, WESCO matches contributions made by employees at an amount equal to 50% of participants' total monthly contributions up to a maximum of 6% of eligible compensation. For Canadian participants, WESCO makes contributions in amounts ranging from 3% to 5% of the participants' eligible compensation based on years of continuous service. In addition, for U.S. participants, employer contributions may be made at the discretion of the Board of Directors. For the three months ended March 31, 2017 and 2016, WESCO incurred charges of $5.5 million and $8.3 million, respectively, for all such plans. Contributions are made in cash to employee retirement savings plan accounts. The deferred compensation plan is an unfunded plan. As of March 31, 2017 and December 31, 2016, the Company's obligation under the deferred compensation plan was $22.4 million and $21.7 million, respectively. Employees have the option to transfer balances allocated to their accounts in the defined contribution retirement savings plan and the deferred compensation plan into any of the available investment options.
In connection with the December 14, 2012 acquisition of EECOL, the Company assumed a contributory defined benefit plan covering substantially all Canadian employees of EECOL and a Supplemental Executive Retirement Plan for certain executives of EECOL.
The following table reflects the components of net periodic benefit costs for the Company's defined benefit plans:
 
Three Months Ended
 
March 31,
(In thousands of dollars)
2017
 
2016
Service cost
$
1,068

 
$
923

Interest cost
962

 
926

Expected return on plan assets
(1,368
)
 
(1,279
)
Recognized actuarial gain
(49
)
 
(10
)
Net periodic benefit cost
$
613

 
$
560


During the three months ended March 31, 2017, there were no employer contributions to the defined benefit plans.