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Postretirement Benefit Cost

6 Months Ended

Jun. 30, 2019

The components of Net periodic benefit cost of the Company’s pension plan are as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2019		2018		2019		2018
Service cost	$	1,714	$	2,001	$	3,427	$	4,003
Interest cost	521		469		1,042		938
Expected return on plan assets	(334)		(287)		(668)		(575)




Net periodic benefit cost	$	1,901	$	2,183	$	3,801	$	4,366

The Company made contributions to the defined benefit pension plan of $0.5 million in the second quarter of 2019. No contributions were made in the first quarter of 2019. The Company plans to make pension plan contributions during 2019 sufficient to satisfy pension funding requirements in an aggregate amount of approximately $4 to $6 million and will make additional contributions in future years sufficient to satisfy pension funding requirements in those periods.

The pension plan assets are invested through a master trust fund. The strategic asset allocation for the trust fund is selected by the Company's Investment Committee reflecting the results of comprehensive asset and liability modeling. The Investment Committee establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk.