Post Retirement Benefits

6 Months Ended

Jun. 30, 2019

The components of expense for Core Molding Technologies’ post-retirement benefit plans for the three and six months ended June 30, 2019 and 2018 are as follows:



	Three months ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Pension expense:
Multi-employer plan	$	231,000		$	185,000		$	462,000		$	363,000
Defined contribution plan	324,000			286,000			586,000			545,000
Total pension expense	555,000			471,000			1,048,000			908,000

Health and life insurance:
Interest cost	72,000			69,000			144,000			138,000
Amortization of prior service costs	(125,000		)	(124,000		)	(250,000		)	(248,000		)
Amortization of net loss	29,000			43,000			58,000			86,000
Net periodic benefit cost	(24,000		)	(12,000		)	(48,000		)	(24,000		)

Total post retirement benefits expense	$	531,000		$	459,000		$	1,000,000		$	884,000

The Company made payments of $699,000 to pension plans and $152,000 for post-retirement healthcare and life insurance during the six months ended June 30, 2019. For the remainder of 2019, the Company expects to make approximately $1,286,000 of pension plan payments, of which $758,000 was accrued at June 30, 2019. The Company also expects to make approximately $1,005,000 of post-retirement healthcare and life insurance payments for the remainder of 2019, all of which were accrued at June 30, 2019.