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RETIREMENT PLANS

6 Months Ended

Jun. 30, 2019

11. RETIREMENT PLANS

The Company has noncontributory defined benefit pension plans for eligible employees in its International Telecom segment who meet certain eligibility criteria. The Company also has a noncontributory defined medical, dental, vision, and life benefit plan for eligible employees in its International Telecom segment who meet certain eligibility criteria. The Company recorded the net periodic benefit cost identified below (in thousands):


	Three months ended
	June 30, 2019				June 30, 2018
	Pension benefits		Postretirement benefits		Pension benefits		Postretirement benefits
Operating expense
Service cost	$	447	$	37	$	448	$	37
Non-operating expense
Interest cost		841		40		819		40
Expected return on plan assets		(1,263)		—		(1,208)		—
Actuarial gain/ loss		7		(17)		30		(17)
Net periodic pension expense	$	32	$	60	$	89	$	60


	Six months ended
	June 30, 2019				June 30, 2018
	Pension benefits		Postretirement benefits		Pension benefits		Postretirement benefits
Operating expense
Service cost	$	895	$	74	$	897	$	74
Non-operating expense
Interest cost		1,682		80		1,639		80
Expected return on plan assets		(2,527)		—		(2,418)		—
Actuarial gain/ loss		15		(34)		61		(34)
Net periodic pension expense	$	65	$	120	$	179	$	120

The Company is not required to make contributions to its pension and postretirement benefit plans. However, the Company periodically evaluates whether to make discretionary contributions. No contributions were made during the six months ended June 30, 2019 and 2018.