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Defined Benefit Postretirement Plans
 9 Months Ended
Sep. 30, 2015
Defined Benefit Postretirement Plans [Abstract]  
Defined Benefit Postretirement Plans
Note 5.Defined Benefit Postretirement Plans
 
The Company has a qualified, noncontributory, defined benefit pension plan (“the Plan”) covering substantially all of its employees at September 30, 2015.  Benefits paid from the plan are based on age, years of service, compensation and social security benefits, and are determined in accordance with defined formulas. The Company’s policy is to fund the pension plan in accordance with Employee Retirement Income Security Act of 1974 (“ERISA”) standards. Assets of the plan are invested in publicly traded stocks and bonds.  The Company is not required to make contributions to the Plan in 2015 and did not do so during the nine months ended September 30, 2015.
 
Market conditions can result in an unusually high degree of volatility and increase the risks and short term liquidity associated with certain investments held by the Plan which could impact the value of these investments.

In addition to the Plan, the Company also provides supplemental employee retirement plans to certain current and former executives.  These supplemental employee retirement plans and the Plan are collectively referred to herein as “Pension Benefits.”

Also, the Company provides certain health care benefits for retired employees. Benefits are accrued over the employees’ active service period. Only employees that were employed by the Company on or before January 1, 2000 are eligible to receive postretirement health care benefits. These postretirement benefits are referred to herein as “Other Benefits.” The components of expense for Pension Benefits and Other Benefits are set forth below (in thousands):
 
 
 
Pension Benefits
  
Other Benefits
 
 
 
Three months ended September 30,
  
Three months ended September 30,
 
Components of net periodic (benefit) cost:
 
2015
  
2014
  
2015
  
2014
 
Service cost
 
$
669
  
$
587
  
$
4
  
$
4
 
Interest cost
  
996
   
1,040
   
101
   
90
 
Expected return on plan assets
  
(2,147
)
  
(2,175
)
  
-
   
-
 
Net amortization
  
550
   
25
   
1
   
(6
)
Total cost (benefit)
 
$
68
  
$
(523
)
 
$
106
  
$
88
 

 
 
Pension Benefits
  
Other Benefits
 
 
 
Nine months ended September 30,
  
Nine months ended September 30,
 
Components of net periodic (benefit) cost:
 
2015
  
2014
  
2015
  
2014
 
Service cost
 
$
1,979
  
$
1,761
  
$
12
  
$
12
 
Interest cost
  
2,992
   
3,120
   
283
   
270
 
Expected return on plan assets
  
(6,447
)
  
(6,525
)
  
-
   
-
 
Net amortization
  
1,642
   
75
   
31
   
(18
)
Total cost (benefit)
 
$
166
  
$
(1,569
)
 
$
326
  
$
264