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RETIREMENT AND POSTRETIREMENT PLANS
 3 Months Ended
Mar. 31, 2017
RETIREMENT AND POSTRETIREMENT PLANS [Abstract]  
RETIREMENT AND POSTRETIREMENT PLANS
12.
RETIREMENT AND POSTRETIREMENT PLANS

The Holding Company or the Bank maintains the Retirement Plan of Dime Community Bank (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 Dime Community Bank (the "Postretirement Plan").  Net expenses associated with these plans were comprised of the following components:

  
Three Months Ended
March 31, 2017
  
Three Months Ended
March 31, 2016
 
  
BMP,
Employee and
Outside Director
Retirement Plans
  
Postretirement
Plan
  
BMP,
Employee and
Outside Director
Retirement Plans
  
Postretirement
Plan
 
             
Service cost
 
$
-
  
$
-
  
$
-
  
$
-
 
Interest cost
  
329
   
14
   
343
   
16
 
Expected return on assets
  
(395
)
  
-
   
(383
)
  
-
 
Unrecognized past service liability
  
-
   
(2
)
  
-
   
(2
)
Amortization of unrealized loss (gain)
  
359
   
(1
)
  
428
   
(1
)
Net periodic cost
 
$
293
  
$
11
  
$
388
  
$
13
 
 
The Company disclosed in its consolidated financial statements for the year ended December 31, 2016 that it expected to make contributions to, or benefit payments on behalf of, benefit plans during 2017 as follows: Employee Retirement Plan - $15, Outside Director Retirement Plan - $208, Postretirement Plan - $113, and BMP - $725.  The Company made contributions of $4 to the Employee Retirement Plan during the three months ended March 31, 2017, and expects to make the remainder of the anticipated contributions during 2017.  The Company made benefit payments of $41 on behalf of the Outside Director Retirement Plan during the three months ended March 31, 2017, and expects to make the remainder of the estimated benefit payments during 2017.  The Company made benefit payments totaling $35 on behalf of the Postretirement Plan during the three months ended March 31, 2017, and expects to make the remainder of the anticipated contributions or benefit payments during 2017.  The Company made benefit payments totaling $35 on behalf of the BMP during the three month period ended March 31, 2017, and expects to make the remainder of the anticipated benefit payments during 2017.