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Pension and Employee Benefit Plans | 3 Months Ended
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Mar. 31, 2022
Retirement Benefits [Abstract] |
Pension and Employee Benefit Plans | 10. Pension and Employee Benefit Plans We sponsor a non-contributory defined benefit pension plan for certain union employees. The plan is funded in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974. We also sponsor a postretirement health care plan for office employees retired before January 1, 1990. The plan allowed retirees who attained the age of 65 to elect the type of coverage desired. We present the components of net periodic benefit cost (gain) within “Other income (expense), net” on the Condensed Consolidated Statements of Income. Retirement and health care plan expense is based on valuations performed by plan actuaries as of the beginning of each fiscal year. The components of the expense consisted of the following:
|  | Three months ended March 31, |
(table only in thousands) |  | 2022 |  |  | 2021 |
Pension plan: |  |  |  |  |  |
Interest cost |  | $ | 219 |  |  | $ | 194 |
Expected return on plan assets |  |  | (390 | ) |  |  | (378 | )
Amortization of net actuarial loss |  |  | 66 |  |  |  | 103 |
Net periodic benefit (gain) cost |  | $ | (105 | ) |  | $ | (81 | )
Health care plan: |  |  |  |  |  |
Interest cost |  | $ | - |  |  | $ | 1 |
Amortization of net actuarial (gain) loss |  |  | (2 | ) |  |  | 2 |
Net periodic benefit (gain) cost |  | $ | (2 | ) |  | $ | 3 |
We were not required to make contributions to our defined benefit plans during the three-months ended March 31, 2022 and 2021, respectively. For the remainder of 2022, we do not expect to make any contributions to fund the pension plan or the retiree health care plan. The unfunded liability of the plans of $5.5 million and $5.6 million as of March 31, 2022 and December 31, 2021, respectively, is included in “Other liabilities” on our Condensed Consolidated Balance Sheets.

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