The Company has employee benefit plans in the form of certain statutory and other schemes covering its employees.

In accordance with Indian law, the Company maintains a defined benefit retirement plan covering substantially all of its Indian employees. In accordance with Mexican law, the Company provides termination benefits to all of its Mexican employees. In addition, certain of the Company’s subsidiaries in the Philippines, Israel and Japan sponsor defined benefit retirement programs.

Net defined benefit plan costs for the three months ended March 31, 2019 and 2020 include the following components:

	Three months ended March 31,
	2019			2020
Service costs	$	1,973		$	2,927
Interest costs		1,072			1,357
Amortization of actuarial loss		317			651
Expected return on plan assets		(633	)		(1,181	)
Net defined benefit plan costs	$	2,729		$	3,754

During the three months ended March 31, 2019 and 2020, the Company contributed the following amounts to defined contribution plans in various jurisdictions:

	Three months ended March 31,
	2019		2020
India	$	6,565	$	8,201
U.S.		4,326		4,423
U.K.		2,423		2,973
China		4,773		3,923
Other regions		1,069		2,115
Total	$	19,156	$	21,635

On July 1, 2018, Genpact LLC, a wholly-owned subsidiary of the Company, adopted an executive deferred compensation plan (the “Plan”). The Plan provides a select group of U.S.-based members of Company management with the opportunity to defer from 1% to 80% of their base salary and from 1% to 100% of their qualifying bonus compensation (or such other minimums or maximums as determined by the Plan administrator from time to time) pursuant to the terms of the Plan. Participant deferrals are 100% vested at all times. The Plan also allows for discretionary supplemental employer contributions by the Company, in its sole discretion, which will be subject to a two-year vesting schedule (50% vesting on the one-year anniversary of approval of the contribution and 50% vesting on the second year anniversary of approval of the contribution) or such other vesting schedule as determined by the Company.

The Plan also provides an option for participants to elect to receive deferred compensation and earnings thereon on either fixed date(s) no earlier than two years following the applicable Plan year (or end of the applicable performance period for performance-based bonus compensation) or following a separation from service, in each case either in a lump sum or in annual installments over a term of up to 15 years. Each Plan participant’s compensation deferrals are credited or debited with notional investment gains and losses equal to the performance of selected hypothetical investment funds offered under the Plan and elected by the participant.

The Company has investments in funds held in Company-owned life insurance policies which are held in a Rabbi Trust that are classified as trading securities. Management determines the appropriate classification of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. The securities are classified as trading securities because they are held for resale in anticipation of short-term fluctuations in market prices. The trading securities are stated at fair value.

The liability for the deferred compensation plan was $10,943 and $17,583 as of December 31, 2019 and March 31, 2020, respectively, and is included in “other liabilities” in the consolidated balance sheets.

In connection with the administration of the Plan, the Company has purchased company-owned life insurance policies insuring the lives of certain employees. The cash surrender value of these policies was $11,208 and $10,635 as of December 31, 2019 and March 31, 2020, respectively. The cash surrender value of these insurance policies is included in “other assets” in the consolidated balance sheets.

During the three months ended March 31, 2019 and 2020, the change in the fair value of Plan assets was $288 and $(1,558), respectively, which is included in “other income (expense), net,” in the consolidated statements of income. During the three months ended March 31, 2019 and 2020, the change in the fair value of deferred compensation liabilities was $188 and $(1,547), respectively, which is included in “selling, general and administrative expenses.”