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Retirement Benefit Obligations (Tables)
 3 Months Ended
Mar. 31, 2015
Key Weighted Average Assumptions used in Determining Benefit Plan Costs and Obligations

The following table includes the key weighted average assumptions used in determining the Company’s benefit plan costs and obligations:

 

     2015     2014  

Used to Determine Plan Costs

     

Discount Rate

      4.00 %      4.80 % 

Rate of Compensation Increase

      3.00 %      3.00 % 

Expected Long-term rate of return on plan assets

      8.00 %      8.00 % 

Health Care Cost Trend Rate Assumed for Next Year

      6.00 %      7.00 % 

Ultimate Health Care Cost Trend Rate

      4.00 %      4.00 % 

Year that Ultimate Health Care Cost Trend Rate is reached

      2018        2018   
Components of Retirement Plan Costs

The following table provides the components of the Company’s Retirement plan costs ($000’s):

 

     Pension Plan     PBOP Plan     SERP  

Three Months Ended March 31,

    2015     2014     2015     2014     2015      2014  

Service Cost

    $ 916      $ 751      $ 656      $ 497      $ 28       $ 14   

Interest Cost

      1,343        1,273        729        672        78         68   

Expected Return on Plan Assets

      (1,694 )     (1,561 )     (273 )      (230 )      —           —     

Prior Service Cost Amortization

      54        53        420        420        3         3   

Actuarial Loss Amortization

      1,180        712        288        14        84         25   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Sub-total

      1,799       1,228       1,820        1,373        193         110   

Amounts Capitalized and Deferred

      (708 )      (344 )      (760 )      (473 )      —           —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Net Periodic Benefit Cost Recognized

    $ 1,091      $ 884      $ 1,060      $ 900      $ 193       $ 110