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Post Retirement Benefits | 6 Months Ended
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Jun. 30, 2024
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 June 30, |  | Six months ended June 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |
Pension expense: |  |  |  |  |  |  |  |  |  |  |
Multi-employer plan | $ | 211 |  |  | $ | 274 |  |  | $ | 425 |  |  | $ | 513 |  |  |  |  |
Defined contribution plan | 432 |  |  | 441 |  |  | 938 |  |  | 969 |  |  |  |  |
Total pension expense | 643 |  |  | 715 |  |  | 1,363 |  |  | 1,482 |  |  |  |  |
Health and life insurance: |  |  |  |  |  |  |  |  |  |  |
Interest cost | 23 |  |  | 67 |  |  | 46 |  |  | 132 |  |  |  |  |
Amortization of prior service credits | (124) |  |  | (124) |  |  | (248) |  |  | (248) |  |  |  |  |
Amortization of net loss | (37) |  |  | 5 |  |  | (74) |  |  | 11 |  |  |  |  |
Net periodic benefit credit | (138) |  |  | (52) |  |  | (276) |  |  | (105) |  |  |  |  |
Total post-retirement benefits expense | $ | 505 |  |  | $ | 663 |  |  | $ | 1,087 |  |  | $ | 1,377 |  |  |  |  |
The Company made payments of $1,655,000 to pension plans and $553,000 for post-retirement healthcare and life insurance during the six months ended June 30, 2024. For the remainder of 2024, the Company expects to make approximately $953,000 of pension plan payments, of which $104,000 was accrued at June 30, 2024. The Company also expects to make approximately $104,000 of post-retirement healthcare and life insurance payments for the remainder of 2024, all of which were accrued at June 30, 2024.

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