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Components of Net Periodic Benefit Cost
 9 Months Ended
Sep. 30, 2012
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

 

 

 

2012

 

2011

 

2012

 

2011

 

2012

 

2011

 

2012

 

2011

 

Service cost

 

$

1,218

 

$

775

 

$

15

 

$

27

 

$

3,654

 

$

2,325

 

$

45

 

$

82

 

Interest cost

 

917

 

824

 

43

 

60

 

2,750

 

2,472

 

130

 

180

 

Expected return on plan assets

 

(815

)

(964

)

—

 

—

 

(2,444

)

(2,893

)

—

 

—

 

Amortization of transition obligation

 

—

 

—

 

15

 

15

 

—

 

—

 

45

 

45

 

Net amortization of prior service cost

 

41

 

(4

)

—

 

—

 

124

 

(13

)

—

 

—

 

Net amortization of net (gain) loss

 

567

 

161

 

—

 

—

 

1,702

 

482

 

—

 

—

 

Net Periodic Benefit Cost

 

$

1,928

 

$

792

 

$

73

 

$

102

 

$

5,786

 

$

2,373

 

$

220

 

$

307

 

 

Employer Contributions

 

First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2011 that it expected to contribute $3.8 and $1.5 million respectively to its Pension Plan and ESOP and $225,000 to the Post Retirement Health Benefits Plan in 2011. Contributions of $2.9 million and $156 thousand have been made through the first nine months of 2012 for the Pension Plan and the Post Retirement Health Benefits plan, respectively.