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EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2019

11. EMPLOYEE BENEFIT PLANS

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


	Three months ended				Nine months ended
(in thousands)	September 30,				September 30,
	2019		2018		2019		2018
Interest cost	$	64	$	63	$	192	$	188
Expected return on plan assets		(117)		(126)		(352)		(376)
Amortization of net losses		22		20		66		61
Net periodic benefit	$	(31)	$	(43)	$	(94)	$	(127)

The Company did not make a contribution to this plan during the nine months ended September 30, 2019.

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 stated at fair value and totaled approximately $6,323,000 as of September 30, 2019 and $5,518,000 as of December 31, 2018. 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 $805,000 during the nine months ended September 30, 2019, compared to trading gains of approximately $211,000 during the nine months ended September 30, 2018.