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Employee Pension Plans
 9 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Employee Pension Plans Employee Pension Plans
The Company has a defined benefit pension plan and an unfunded supplemental retirement plan. Effective June 1, 2004, all benefit accruals under these plans were frozen; however, the current vested benefit was preserved. The pension disclosure presented below includes aggregated amounts for both of the Company’s plans.
The following table sets forth a summary of the net periodic benefit cost for the three and nine months ended September 30, 2023 and 2022:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2023202220232022
Interest cost$968 $647 $2,906 $1,940 
Service cost255 240 765 720 
Expected return on plan assets(978)(973)(2,935)(2,919)
Recognized net actuarial losses413 639 1,239 1,916 
Net periodic benefit cost$658 $553 $1,975 $1,657 
The Company contributed $0.6 million to its defined benefit pension plan during the nine months ended September 30, 2023. The Company expects to contribute an additional $0.7 million in cash by the end of 2023. Due to the election of certain options provided under the American Rescue Plan Act of 2021, enacted on March 11, 2021, the Company was not required to, and did not contribute, amounts to the defined benefit pension plan during the nine months ended September 30, 2022.