Pension Information

6 Months Ended

Jun. 30, 2017

(11) Pension Information

The Company sponsors a pension plan which is a noncontributory defined benefit retirement plan. Annual payments, subject to the maximum amount deductible for federal income tax purposes, are made to a pension trust fund. In 2006, the Company amended the pension plan to provide that no employee could be added as a participant to the pension plan after December 31, 2006. In 2014, the Company amended the pension plan again to provide that no additional benefits would accrue beyond April 30, 2014.

Net periodic pension benefit was as follows:


	Three months ended						Six months ended
	June 30,						June 30,
	2017			2016			2017			2016
Service cost	$	—		$	—		$	—		$	—
Interest cost		171			170			338			340
Expected return on plan assets		(283	)		(274	)		(561	)		(548	)
Other components		426			83			520			166

Net periodic pension benefit	$	314		$	(21	)	$	297		$	(42	)

The total amount of pension contributions expected to be paid by the Company in 2017 is $500. The Company contributed $500 in 2016.