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RETIREMENT AND POSTRETIREMENT PLANS
 6 Months Ended
Jun. 30, 2016
RETIREMENT AND POSTRETIREMENT PLANS [Abstract]  
RETIREMENT AND POSTRETIREMENT PLANS
13.RETIREMENT AND POSTRETIREMENT PLANS

The Holding Company or the Bank maintains the Retirement Plan of The Dime Savings Bank of Williamsburgh (the "Employee Retirement Plan"), the Retirement Plan for Board Members of Dime Community Bancshares, Inc. (the "Outside Director Retirement Plan"), the BMP, and the Postretirement Welfare Plan of The Dime Savings Bank of Williamsburgh (the "Postretirement Plan").  Net expenses associated with these plans were comprised of the following components:

  
Three Months Ended
June 30, 2016
  
Three Months Ended
June 30, 2015
 
  
BMP,
Employee and
Outside Director
Retirement
Plans
  
Postretirement
Plan
  
BMP,
Employee and
Outside
Director
Retirement
Plans
  
Postretirement
Plan
 
             
Service cost
 
$
-
  
$
-
  
$
-
  
$
-
 
Interest cost
  
343
   
16
   
343
   
29
 
Expected return on assets
  
(383
)
  
-
   
(414
)
  
-
 
Unrecognized past service liability
  
-
   
(2
)
  
-
   
-
 
Amortization of unrealized loss
  
428
   
(1
)
  
480
   
(13
)
Net periodic cost
 
$
388
  
$
13
  
$
409
  
$
16
 
 
  
Six Months Ended
June 30, 2016
  
Six Months Ended
June 30, 2015
 
  
BMP,
Employee and
Outside Director
Retirement
Plans
  
Postretirement
Plan
  
BMP,
Employee and
Outside
Director
Retirement
Plans
  
Postretirement
Plan
 
             
Service cost
 
$
-
  
$
-
  
$
-
  
$
9
 
Interest cost
  
686
   
32
   
687
   
538
 
Expected return on assets
  
(766
)
  
-
   
(828
)
  
-
 
Curtailment gain(1)
  
-
   
-
   
-
   
(3,394
)
Unrecognized past service liability
  
-
   
(4
)
  
-
   
-
 
Amortization of unrealized loss
  
858
   
(2
)
  
959
   
(25
)
Net periodic cost (gain)
 
$
778
  
$
26
  
$
818
  
$
(2,872
)
 
(1)The Postretirement Plan was amended effective March 31, 2015, whereby future retirees will not be eligible to participate in the plan. This plan amendment resulted in a curtailment gain.

The Company disclosed in its consolidated financial statements for the year ended December 31, 2015 that it expected to make contributions to, or benefit payments on behalf of, benefit plans during 2016 as follows: BMP - $686, Outside Director Retirement Plan - $208, and Postretirement Plan - $116.  The Company made contributions of $7 to the Employee Retirement Plan during the three months ended June 30, 2016, and $11 during the six months ended June 30, 2016.  The Company made benefit payments of $41 on behalf of the Outside Director Retirement Plan during the three months ended June 30, 2016, and $82 during the six months ended June 30, 2016, and expects to make the remainder of the estimated net contributions or benefit payments during 2016.  The Company made benefit payments totaling $17 on behalf of the Postretirement Plan during the three months ended June 30, 2016, and $50 during the six months ended June 30, 2016, and expects to make the remainder of the anticipated contributions or benefit payments during 2016.  The Company did not make any defined benefit contributions to, or benefit payments on behalf of, the BMP during the three month or six month periods ended June 30, 2016, however, does expect to make benefit payments on behalf of the BMP during 2016.