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RETIREMENT BENEFIT OBLIGATIONS | 6 Months Ended
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Jun. 30, 2016
RETIREMENT BENEFIT OBLIGATIONS | NOTE 9: RETIREMENT BENEFIT OBLIGATIONS The Company co-sponsors the Unitil Corporation Retirement Plan (Pension Plan), the Unitil Retiree Health and Welfare Benefits Plan (PBOP Plan), and the Unitil Corporation Supplemental Executive Retirement Plan (SERP) to provide certain pension and postretirement benefits for its retirees and current employees. Please see Note 10 to the Consolidated Financial Statements in the Company’s Form 10-K for the year ended December 31, 2015 as filed with the SEC on January 28, 2016 for additional information regarding these plans. The following table includes the key weighted average assumptions used in determining the Company’s benefit plan costs and obligations:
|  | 2016 |  |  | 2015 |
Used to Determine Plan Costs |  |  |  |  |  |  |  |
Discount Rate |  |  | 4.30 | % |  |  | 4.00 | %
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 |  |  | 7.00 | % |  |  | 6.00 | %
Ultimate Health Care Cost Trend Rate |  |  | 4.00 | % |  |  | 4.00 | %
Year that Ultimate Health Care Cost Trend Rate is reached |  |  | 2022 |  |  |  | 2018 |
The following tables provide the components of the Company’s Retirement plan costs ($000’s):
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP |
Three Months Ended June 30, |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Service Cost |  | $ | 851 |  |  | $ | 916 |  |  | $ | 652 |  |  | $ | 656 |  |  | $ | 41 |  |  | $ | 28 |
Interest Cost |  |  | 1,486 |  |  |  | 1,343 |  |  |  | 808 |  |  |  | 729 |  |  |  | 96 |  |  |  | 78 |
Expected Return on Plan Assets |  |  | (1,814 | ) |  |  | (1,694 | ) |  |  | (301 | ) |  |  | (273 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 66 |  |  |  | 54 |  |  |  | 372 |  |  |  | 420 |  |  |  | 47 |  |  |  | 3 |
Actuarial Loss Amortization |  |  | 1,099 |  |  |  | 1,180 |  |  |  | 262 |  |  |  | 288 |  |  |  | 94 |  |  |  | 84 |
Sub-total |  |  | 1,688 |  |  |  | 1,799 |  |  |  | 1,793 |  |  |  | 1,820 |  |  |  | 278 |  |  |  | 193 |
Amounts Capitalized and Deferred |  |  | (797 | ) |  |  | (875 | ) |  |  | (867 | ) |  |  | (881 | ) |  |  | — |  |  |  | — |
Net Periodic Benefit Cost Recognized |  | $ | 891 |  |  | $ | 924 |  |  | $ | 926 |  |  | $ | 939 |  |  | $ | 278 |  |  | $ | 193 |
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP |
Six Months Ended June 30, |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Service Cost |  | $ | 1,702 |  |  | $ | 1,832 |  |  | $ | 1,304 |  |  | $ | 1,312 |  |  | $ | 82 |  |  | $ | 56 |
Interest Cost |  |  | 2,972 |  |  |  | 2,686 |  |  |  | 1,616 |  |  |  | 1,458 |  |  |  | 192 |  |  |  | 156 |
Expected Return on Plan Assets |  |  | (3,628 | ) |  |  | (3,388 | ) |  |  | (602 | ) |  |  | (546 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 132 |  |  |  | 108 |  |  |  | 744 |  |  |  | 840 |  |  |  | 94 |  |  |  | 6 |
Actuarial Loss Amortization |  |  | 2,198 |  |  |  | 2,360 |  |  |  | 524 |  |  |  | 576 |  |  |  | 188 |  |  |  | 168 |
Sub-total |  |  | 3,376 |  |  |  | 3,598 |  |  |  | 3,586 |  |  |  | 3,640 |  |  |  | 556 |  |  |  | 386 |
Amounts Capitalized and Deferred |  |  | (1,407 | ) |  |  | (1,583 | ) |  |  | (1,604 | ) |  |  | (1,642 | ) |  |  | — |  |  |  | — |
Net Periodic Benefit Cost Recognized |  | $ | 1,969 |  |  | $ | 2,015 |  |  | $ | 1,982 |  |  | $ | 1,998 |  |  | $ | 556 |  |  | $ | 386 |
Employer Contributions As of June 30, 2016, the Company had made $2.0 million and $1.6 million of contributions to its Pension Plan and PBOP Plan, respectively, in 2016. The Company, along with its subsidiaries, expects to continue to make contributions to its Pension and PBOP Plans in 2016 and future years at minimum required and discretionary funding levels consistent with the amounts recovered in the distribution utilities’ rates for these Pension and PBOP Plan costs. As of June 30, 2016, the Company had made $17,100 of benefit payments under the SERP Plan in 2016. The Company presently anticipates making an additional $17,000 of benefit payments under the SERP Plan in 2016.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450702-114947 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66047640&loc=d3e39622-114963 + Details
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