Employee Benefit Plans:

3 Months Ended

Mar. 31, 2017

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans:

The components of net periodic benefit costs, before allocation to the overhead pool, for Registrant’s pension plan, postretirement plan and Supplemental Executive Retirement Plan ("SERP") for the three months ended March 31, 2017 and 2016 are as follows:



	For The Three Months Ended March 31,
	Pension Benefits						Other Postretirement Benefits						SERP
(dollars in thousands)	2017			2016			2017			2016			2017		2016
Components of Net Periodic Benefits Cost:
Service cost	$	1,251		$	1,232		$	59		$	68		$	232	$	200
Interest cost	1,967			1,930			85			97			223		186
Expected return on plan assets	(2,610		)	(2,460		)	(122		)	(122		)	—		—
Amortization of prior service cost (benefit)	—			12			—			(9		)	3		6
Amortization of actuarial (gain) loss	209			127			(170		)	(150		)	194		73
Net periodic pension cost under accounting standards	817			841			(148		)	(116		)	652		465
Regulatory adjustment — deferred	433			359			—			—			—		—
Total expense recognized, before allocation to overhead pool	$	1,250		$	1,200		$	(148	)	$	(116	)	$	652	$	465

Registrant expects to contribute approximately $6.2 million to its pension plan during 2017.

Regulatory Adjustment:

As authorized by the CPUC in the most recent water and electric general rate case decisions, GSWC utilizes two-way balancing accounts for its water and electric regions and the general office to track differences between the forecasted annual pension expenses in rates or expected to be in rates and the actual annual expense recorded by GSWC in accordance with the accounting guidance for pension costs. As of March 31, 2017, GSWC has a total $900,000 net under-collection in the two-way pension balancing accounts included as part of the pension regulatory asset (Note 2).