Post Retirement Benefits

9 Months Ended

Sep. 30, 2019

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



	Three months ended						Nine months ended
	September 30,						September 30,
	2019			2018			2019			2018
Pension expense:
Multi-employer plan	$	270,000		$	186,000		$	732,000		$	549,000
Defined contribution plan	364,000			182,000			950,000			698,000
Total pension expense	634,000			368,000			1,682,000			1,247,000

Health and life insurance:
Interest cost	72,000			69,000			216,000			207,000
Amortization of prior service costs	(125,000		)	(124,000		)	(375,000		)	(372,000		)
Amortization of net loss	30,000			43,000			88,000			129,000
Net periodic benefit cost	(23,000		)	(12,000		)	(71,000		)	(36,000		)

Total post retirement benefits expense	$	611,000		$	356,000		$	1,611,000		$	1,211,000

The Company made payments of $1,682,000 to pension plans and $224,000 for post-retirement healthcare and life insurance during the nine months ended September 30, 2019. For the remainder of 2019, the Company expects to make approximately $394,000 of pension plan payments, of which $150,000 was accrued at September 30, 2019. The Company also expects to make approximately $933,000 of post-retirement healthcare and life insurance payments for the remainder of 2019, all of which were accrued at September 30, 2019.