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Employee Benefit Plans | 6 Months Ended
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Sep. 30, 2020
Compensation And Retirement Disclosure [Abstract] |
Employee Benefit Plans | NOTE 9 – EMPLOYEE BENEFIT PLANS: The components of pension cost are as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Service cost |  | $ | 115 |  |  | $ | 124 |  |  | $ | 231 |  |  | $ | 248 |
Interest cost |  |  | 303 |  |  |  | 323 |  |  |  | 606 |  |  |  | 646 |
Expected return on assets |  |  | (628 | ) |  |  | (665 | ) |  |  | (1,257 | ) |  |  | (1,329 | )
Amortization of actuarial loss |  |  | 260 |  |  |  | 242 |  |  |  | 520 |  |  |  | 484 |
Net pension cost |  | $ | 50 |  |  | $ | 24 |  |  | $ | 100 |  |  | $ | 49 |
The Company made no contributions to its defined benefit pension plan during the six months ended September 30, 2020 and does not expect to make any contributions to the plan for the balance of fiscal 2021. The components of the postretirement benefit cost are as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Interest cost |  | $ | 4 |  |  | $ | 6 |  |  | $ | 9 |  |  | $ | 11 |
Amortization of actuarial loss |  |  | 7 |  |  |  | 7 |  |  |  | 13 |  |  |  | 14 |
Net postretirement benefit cost |  | $ | 11 |  |  | $ | 13 |  |  | $ | 22 |  |  | $ | 25 |
The Company paid no benefits related to its postretirement benefit plan during the six months ended September 30, 2020. The Company expects to pay benefits of approximately $77 for the balance of fiscal 2021. The components of net periodic benefit cost other than service cost are included in the line item “Other income” in the Condensed Consolidated Statements of Income. The Company self-funds the medical insurance coverage it provides to its U.S. based employees. The Company maintains a stop loss insurance policy in order to limit its exposure to claims. The liability of $160 and $124 on September 30, 2020 and March 31, 2020, respectively, related to the self-insured medical plan is primarily based upon claim history and is included in the caption “Accrued compensation” as a current liability in the Condensed Consolidated Balance Sheets.

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