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RETIREMENT PLANS | 3 Months Ended
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Mar. 31, 2020
RETIREMENT PLANS |
RETIREMENT PLANS | 10. RETIREMENT PLANS ​ The Company has noncontributory defined benefit pension and noncontributory defined medical, dental, vision, and life benefit plans 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 | ​
​ |  | March 31, 2020 |  | March 31, 2019 | ​
​ | ​ | Pension benefits | ​ | Postretirement benefits | ​ | Pension benefits | ​ | Postretirement benefits | ​
Operating expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Service cost | ​ | $ | 423 | ​ | $ | 32 | ​ | $ | 447 | ​ | $ | 37 | ​
Non-operating expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest cost | ​ | ​ | 879 | ​ | ​ | 45 | ​ | ​ | 841 | ​ | ​ | 40 | ​
Expected return on plan assets | ​ |  | (1,158) | ​ |  | — | ​ |  | (1,263) | ​ |  | — | ​
Actuarial gain/ loss | ​ | ​ | (7) | ​ | ​ | (15) | ​ | ​ | 7 | ​ | ​ | (17) | ​
Net periodic pension expense | ​ | $ | 137 | ​ | $ | 62 | ​ | $ | 32 | ​ | $ | 60 | ​
​ In the first quarter of 2020, the Company began the process of winding up one of its pension plans. At December 31, 2019 this plan had assets of $15.1 million and a projected benefit obligation of $15.6 million. ​ 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. The Company funds its postretirement benefit plans as claims are made and did not make contributions during either of the three months ended March 31, 2020 or 2019. ​

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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