Retirement Plans

3 Months Ended

Mar. 31, 2019

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 2018 Annual Report.

The following tables provide information regarding the Pension Plan:



	Pension Plan
	Quarter ended March 31,
($ in thousands)	2019			2018
Net Periodic Benefit Cost:
Interest cost	$	3,377		3,095
Expected return on plan assets	(5,279		)	(5,682	)
Amortization of unrecognized net actuarial loss	644			494
Total net periodic benefit cost¹	$	(1,258	)	(2,093	)

¹ The components of net periodic benefit cost are included within "Loss and loss expense incurred" and "Other insurance expenses" on the Consolidated Statements of Income.



	Pension Plan
	Quarter ended March 31,
	2019		2018
Weighted-Average Expense Assumptions:
Discount rate	4.46	%	3.78	%
Effective interest rate for calculation of interest cost	4.12		3.46
Expected return on plan assets	6.50		6.36