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Components of Net Periodic Benefit Cost
9 Months Ended
Sep. 30, 2011
Components of Net Periodic Benefit Cost 
Components of Net Periodic Benefit Cost

7. Components of Net Periodic Benefit Cost

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

(000’s)

 

(000’s)

 

 

 

 

 

 

 

Post-Retirement

 

 

 

 

 

Post-Retirement

 

 

 

Pension Benefits

 

Health Benefits

 

Pension Benefits

 

Health Benefits

 

 

 

2011

 

2010

 

2011

 

2010

 

2011

 

2010

 

2011

 

2010

 

Service cost

 

$

775

 

$

773

 

$

27

 

$

16

 

$

2,325

 

$

2,319

 

$

82

 

$

49

 

Interest cost

 

824

 

828

 

60

 

54

 

2,472

 

2,485

 

180

 

164

 

Expected return on plan assets

 

(964

)

(850

)

—

 

—

 

(2,893

)

(2,550

)

—

 

—

 

Amortization of transition obligation

 

—

 

—

 

15

 

16

 

—

 

—

 

45

 

45

 

Net amortization of prior service cost

 

(4

)

(4

)

—

 

—

 

(13

)

(13

)

—

 

—

 

Net amortization of net (gain) loss

 

161

 

245

 

—

 

3

 

482

 

736

 

—

 

9

 

Net Periodic Benefit Cost

 

$

792

 

$

992

 

$

102

 

$

89

 

$

2,373

 

$

2,977

 

$

307

 

$

267

 

 

Employer Contributions

 

First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2010 that it expected to contribute $4.9 and $1.4 million respectively to its Pension Plan and ESOP and $210,000 to the Post Retirement Health Benefits Plan in 2011. Contributions of $6.4 million have been made through the first nine months of 2011 for the Pension Plan. Contributions of $174 thousand have been made through the third quarter of 2011 for the Post Retirement Health Benefits plan.