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Retirement and Benefit Plans (Notes) | 9 Months Ended
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Sep. 30, 2020
Retirement Benefits [Abstract] |
Retirement and Benefit Plans | Retirement and Benefit Plans The following table presents the pension benefit costs:
| Three Months Ended September 30 |  | Nine Months Ended September 30
| 2020 |  | 2019 |  | 2020 |  | 2019
| (thousands)
Service cost | $ | 167 |  |  | $ | 163 |  |  | $ | 501 |  |  | $ | 485 |
Interest cost | 1,474 |  |  | 1,792 |  |  | 4,420 |  |  | 5,417 |
Expected return on plan assets | (1,374) |  |  | (1,477) |  |  | (4,120) |  |  | (4,426) |
Amortization of actuarial (gain) loss | 202 |  |  | (44) |  |  | 605 |  |  | (131) |
Plan settlement loss | — |  |  | 1,342 |  |  | 86 |  |  | 1,342 |
Net periodic benefit expense | $ | 469 |  |  | $ | 1,776 |  |  | $ | 1,492 |  |  | $ | 2,687 |
Service cost is recorded in the same income statement line items as other employee compensation costs arising from services rendered, and the other components of net periodic benefit expense are recorded in "Pension expense (excluding service costs)" in our Consolidated Statements of Operations. During the nine months ended September 30, 2020, we contributed $12.7 million in cash to the pension plans. During the third quarter 2020, we repurchased two BMD real property locations we previously had contributed to our qualified defined benefit pension plan (Pension Plan) for approximately $11.4 million, which were recorded as pension contributions. For information related to the contribution of properties to our qualified defined benefit pension plan, see Note 12, Retirement and Benefit Plans, of the Notes to Consolidated Financial Statements in "Item 8. Financial Statements and Supplementary Data" in our 2019 Form 10-K. For the remainder of 2020, we expect to make approximately $0.1 million in cash contributions to our nonqualified salaried pension plans. We have announced to plan participants our intention to terminate our Pension Plan (Plan Termination). In conjunction with the Plan Termination, we froze accrual of all benefits on our Pension Plan effective August 31, 2020. In addition, we purchased a buy-in group annuity contract (Buy-In) from The Prudential Insurance Company of America (Prudential), which was funded with plan assets on August 6, 2020. In anticipation of the Plan Termination, the Buy-In will fund lump-sum payments made to eligible plan participants. The lump-sum program is expected to close on October 31, 2020 and participants who elect to participate will receive payment on or about December 2, 2020, after which, neither the Pension Plan nor Prudential will have any further obligations to those participants. After completion of the lump-sum program, we expect to exercise our option to convert the Buy-In to a buy-out group annuity contract (Buy-Out) for no additional premium. When the Buy-Out becomes effective, we plan to irrevocably transfer to Prudential the future benefit obligations and annuity administration for all remaining plan participants (or their beneficiaries) in the Pension Plan. We expect these transactions to fully eliminate the liabilities of our Pension Plan, upon which we will record the related non-cash accounting adjustments as required by the application of pension settlement accounting rules.

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