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RETIREMENT BENEFIT OBLIGATIONS (Tables)
 3 Months Ended
Mar. 31, 2020
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:
Used to Determine Plan Costs
 
2020
 
  
2019
 
Discount Rate
 
 
3.25
%
   
4.25
 %
Rate of Compensation Increase
 
 
3.00
%
   
3.00
 %
Expected Long-term rate of return on plan assets
 
 
7.40
%
   
7.75
 %
Health Care Cost Trend Rate Assumed for Next Year
 
 
7.00
%
   
7.00
 %
Ultimate Health Care Cost Trend Rate
 
 
4.50
%
   
4.50
 %
Year that Ultimate Health Care Cost Trend Rate is reached
 
 
2029
 
    
2024
 
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,
 
2020
 
  
2019
 
  
2020
 
  
2019
 
  
2020
 
  
2019
 
Service Cost
 
$
831
 
   $
776
   
$
675
 
   $
576
   
$
71
 
   $
60
 
Interest Cost
 
 
1,444
 
    
1,621
   
 
780
 
    
856
   
 
137
 
    
139
 
Expected Return on Plan Assets
 
 
(2,255
)
   
(2,119
 )  
 
(516
)
   
(411
 )  
 
—  
 
    
—  
  
Prior Service Cost Amortization
 
 
80
 
    
80
   
 
303
 
    
303
   
 
14
 
    
3
 
Actuarial Loss Amortization
 
 
1,618
 
    
1,081
   
 
186
 
    
57
   
 
259
 
    
158
 
                                                 
Sub-total
 
 
1,718
 
    
1,439
    
 
1,428
 
    
1,381
   
 
481
 
    
360
 
Amounts Capitalized and Deferred
 
 
(630
)
   
(412
 )  
 
(532
)
   
(474
 )  
 
(138
)
   
(103
 )
                                                 
Net Periodic Benefit Cost Recognized
 
$
1,088
 
   $
1,027
   
$
896
 
   $
907
   
$
343
 
   $
257