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Post Retirement Benefits | 9 Months Ended
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Sep. 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 September 30, |  | Nine months ended September 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |  |  |
Pension expense: |  |  |  |  |  |  |  |  |  |  |
Multi-employer plan | $ | 199 |  |  | $ | 221 |  |  | $ | 624 |  |  | $ | 734 |  |  |  |  |
Defined contribution plan | 459 |  |  | 471 |  |  | 1,397 |  |  | 1,440 |  |  |  |  |
Total pension expense | 658 |  |  | 692 |  |  | 2,021 |  |  | 2,174 |  |  |  |  |
Health and life insurance: |  |  |  |  |  |  |  |  |  |  |
Interest cost | 23 |  |  | 66 |  |  | 69 |  |  | 197 |  |  |  |  |
Amortization of prior service credits | (124) |  |  | (124) |  |  | (372) |  |  | (372) |  |  |  |  |
Amortization of net loss (gain) | (37) |  |  | 6 |  |  | (111) |  |  | 18 |  |  |  |  |
Net periodic benefit credit | (138) |  |  | (52) |  |  | (414) |  |  | (157) |  |  |  |  |
Total post-retirement benefits expense | $ | 520 |  |  | $ | 640 |  |  | $ | 1,607 |  |  | $ | 2,017 |  |  |  |  |
The Company made payments of $2,156,000 to pension plans and $455,000 for post-retirement healthcare and life insurance during the nine months ended September 30, 2024. For the remainder of 2024, the Company expects to make approximately $479,000 of pension plan payments, of which $93,000 was accrued at September 30, 2024. The Company also expects to make approximately $93,000 of post-retirement healthcare and life insurance payments for the remainder of 2024, all of which were accrued at September 30, 2024.

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