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Post Retirement Benefits | 9 Months Ended
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Sep. 30, 2023
Retirement Benefits [Abstract] |
Post Retirement Benefits | POST-RETIREMENT BENEFITS The components of expense for the Company’s post-retirement benefit plans are as follows (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Pension expense: |  |  |  |  |  |  |
Multi-employer plan | $ | 221 |  |  | $ | 221 |  |  | $ | 734 |  |  | $ | 682 |
Defined contribution plan | 471 |  |  | 371 |  |  | 1,440 |  |  | 1,122 |
Total pension expense | 692 |  |  | 592 |  |  | 2,174 |  |  | 1,804 |
Health and life insurance: |  |  |  |  |  |  |
Interest cost | 66 |  |  | 50 |  |  | 197 |  |  | 149 |
Amortization of prior service credits | (124) |  |  | (124) |  |  | (372) |  |  | (372) |
Amortization of net actuarial loss | 6 |  |  | 43 |  |  | 18 |  |  | 130 |
Net periodic benefit credit | (52) |  |  | (31) |  |  | (157) |  |  | (93) |
Total post-retirement benefits expense | $ | 640 |  |  | $ | 561 |  |  | $ | 2,017 |  |  | $ | 1,711 |
The Company made payments of $2,204,000 to pension plans and $563,000 for post-retirement healthcare and life insurance during the nine months ended September 30, 2023. For the remainder of 2023, the Company expects to make approximately $779,000 of pension plan payments, of which $259,000 was accrued at September 30, 2023. The Company also expects to make approximately $871,000 of post-retirement healthcare and life insurance payments for the remainder of 2023, all of which were accrued at September 30, 2023.

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