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Retirement Plans
 3 Months Ended
Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans
Retirement Plans
The following table shows the net periodic benefit cost related to the Retirement Income Plan for Selective Insurance Company of America (“Retirement Income Plan”) and the life insurance benefits provided to eligible Selective Insurance Company of America retirees (referred to as the "Retirement Life Plan"). For more information concerning these plans, refer to Note 15. “Retirement Plans” in Item 8. “Financial Statements and Supplementary Data.” of our 2014 Annual Report.
 
 
Retirement Income Plan
Quarter ended March 31,
 
Retirement Life Plan
Quarter ended March 31,
($ in thousands)
 
2015
 
2014
 
2015
 
2014
Components of Net Periodic Benefit Cost:
 
 

 
 

 
 

 
 

 
 
 
 
 
 
 
 
 
Net Periodic Benefit Cost:
 
 
 
 
 
 
 
 
Service cost
 
$
1,964

 
1,627

 
—

 
—

Interest cost
 
3,502

 
3,254

 
63

 
73

Expected return on plan assets
 
(3,991
)
 
(3,919
)
 
—

 
—

Amortization of unrecognized net actuarial loss
 
1,695

 
367

 
14

 
13

Total net periodic cost
 
$
3,170

 
1,329

 
77

 
86



 
 
Retirement Income Plan
Quarter ended March 31,
 
Retirement Life Plan
Quarter ended March 31,
 
 
2015
 
2014
 
2015
 
2014
Weighted-Average Expense Assumptions:
 
 
 
 
 
 
 
 
Discount rate
 
4.29
%
 
5.16
 
4.08
%
 
4.85
Expected return on plan assets
 
6.27

 
6.92
 
—

 
—
Rate of compensation increase
 
4.00

 
4.00
 
—

 
—


We presently anticipate contributing $11.9 million to the Retirement Income Plan in 2015, $3.2 million of which has been funded as of March 31, 2015.