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EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2017

10.	EMPLOYEE BENEFIT PLANS

The Company participates in a multiple employer pension plan. The following represents the net periodic benefit (credit) cost and related components for the plan:

(in thousands)	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Interest cost	$	66		$	68		$	198		$	205
Expected return on plan assets		(103	)		(101	)		(310	)		(304	)
Amortization of net losses		22			21			68			63
Net periodic benefit	$	(15	)	$	(12	)	$	(44	)	$	(36	)

The Company did not make a contribution to this plan during the nine months ended September 30, 2017.

The Company permits selected highly compensated employees to defer a portion of their compensation into a non-qualified Supplemental Executive Retirement Plan (“SERP”). The Company maintains certain securities in the SERP that have been classified as trading. The SERP assets are marked to market and totaled $5,856,000 as of September 30, 2017 and $5,547,000 as of December 31, 2016. The SERP assets are reported in other non-current assets on the consolidated balance sheets and changes to the fair value of the assets are reported in selling, general and administrative expenses in the consolidated statements of operations. Trading gains related to the SERP assets totaled approximately $300,000 during the nine months ended September 30, 2017, compared to trading gains of $105,000 during the nine months ended September 30, 2016.