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RETIREMENT BENEFIT OBLIGATIONS (Tables) | 6 Months Ended
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Jun. 30, 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 tables provide the components of the Company’s Retirement plan costs ($000’s):
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP Plan |
Three Months Ended June 30, |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Service Cost |  | $ | 831 |  |  | $ | 776 |  |  | $ | 675 |  |  | $ | 576 |  |  | $ | 71 |  |  | $ | 63 |
Interest Cost |  |  | 1,443 |  |  |  | 1,621 |  |  |  | 779 |  |  |  | 856 |  |  |  | 138 |  |  |  | 145 |
Expected Return on Plan Assets |  |  | (2,255 | ) |  |  | (2,118 | ) |  |  | (516 | ) |  |  | (411 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 80 |  |  |  | 80 |  |  |  | 303 |  |  |  | 303 |  |  |  | 14 |  |  |  | 25 |
Actuarial Loss Amortization |  |  | 1,618 |  |  |  | 1,081 |  |  |  | 186 |  |  |  | 57 |  |  |  | 259 |  |  |  | 156 |
Sub-total |  |  | 1,717 |  |  |  | 1,440 |  |  |  | 1,427 |  |  |  | 1,381 |  |  |  | 482 |  |  |  | 389 |
Amounts Capitalized and Deferred |  |  | (807 | ) |  |  | (597 | ) |  |  | (695 | ) |  |  | (606 | ) |  |  | (152) |  |  |  | (112 | )
Net Periodic Benefit Cost Recognized |  | $ | 910 |  |  | $ | 843 |  |  | $ | 732 |  |  | $ | 775 |  |  | $ | 330 |  |  | $ | 277 |
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP Plan |
Six Months Ended June 30, |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Service Cost |  | $ | 1,662 |  |  | $ | 1,552 |  |  | $ | 1,350 |  |  | $ | 1,152 |  |  | $ | 142 |  |  | $ | 123 |
Interest Cost |  |  | 2,887 |  |  |  | 3,242 |  |  |  | 1,559 |  |  |  | 1,712 |  |  |  | 275 |  |  |  | 284 |
Expected Return on Plan Assets |  |  | (4,510 | ) |  |  | (4,237 | ) |  |  | (1,032 | ) |  |  | (822 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 160 |  |  |  | 160 |  |  |  | 606 |  |  |  | 606 |  |  |  | 28 |  |  |  | 28 |
Actuarial Loss Amortization |  |  | 3,236 |  |  |  | 2,162 |  |  |  | 372 |  |  |  | 114 |  |  |  | 518 |  |  |  | 314 |
Sub-total |  |  | 3,435 |  |  |  | 2,879 |  |  |  | 2,855 |  |  |  | 2,762 |  |  |  | 963 |  |  |  | 749 |
Amounts Capitalized and Deferred |  |  | (1,437 | ) |  |  | (1,009 | ) |  |  | (1,227 | ) |  |  | (1,080 | ) |  |  | (290 | ) |  |  | (215 | )
Net Periodic Benefit Cost Recognized |  | $ | 1,998 |  |  | $ | 1,870 |  |  | $ | 1,628 |  |  | $ | 1,682 |  |  | $ | 673 |  |  | $ | 534 |

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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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