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Retirement Plans
 3 Months Ended
Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans
Retirement Plans
SICA's primary pension plan is the Retirement Income Plan for Selective Insurance Company of America (the “Pension Plan”). SICA also sponsors the Supplemental Excess Retirement Plan (the “Excess Plan”) and a life insurance benefit plan. All plans are closed to new entrants and benefits ceased accruing under the Pension Plan and the Excess Plan after March 31, 2016. For more information concerning SICA's retirement plans, refer to Note 14. “Retirement Plans” in Item 8. “Financial Statements and Supplementary Data.” of our 2016 Annual Report.

The following tables provide information regarding the Pension Plan:
 
 
Pension Plan
Quarter ended March 31,
($ in thousands)
 
2017
 
2016
Net Periodic Benefit Cost:
 
 
 
 
Service cost
 
$
—

 
1,606

Interest cost
 
3,111

 
3,102

Expected return on plan assets
 
(4,854
)
 
(3,988
)
Amortization of unrecognized net actuarial loss
 
481

 
1,480

Total net periodic cost
 
$
(1,262
)
 
2,200


 
 
Pension Plan
Quarter ended March 31,
 
 
2017
 
2016
Weighted-Average Expense Assumptions:
 
 
 
 
Discount rate
 
4.41
%
 
4.69
%
Effective interest rate for calculation of service cost
 
n/a

 
4.52

Effective interest rate for calculation of interest cost
 
3.83
%
 
4.02

Expected return on plan assets
 
6.24
%
 
6.37

Rate of compensation increase
 
n/a

 
4.00