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Defined Benefit Pension Plan and Postretirement Benefits
3 Months Ended
Mar. 31, 2020
Compensation And Retirement Disclosure [Abstract]  
Defined Benefit Pension Plan and Postretirement Benefits

Note 13. Defined Benefit Pension Plan and Postretirement Benefits

Defined Benefit Pension Plans

The following table provides information about the net periodic benefit cost for the Company’s pension plans (in thousands):

 

 

Three Months Ended March 31,

 

 

2020

 

 

2019

 

Service cost

$

105

 

 

$

98

 

Interest cost

 

51

 

 

 

62

 

Recognized actuarial (gains)

 

(23

)

 

 

(21

)

 

$

133

 

 

$

139

 

 

The Company’s service cost for its qualified pension plans was included in “Direct salaries and related costs” and “General and administrative” costs in its Condensed Consolidated Statements of Operations for the three months ended March 31, 3020 and 2019. The remaining components of net periodic benefit cost were included in “Other income (expense), net” in the Company’s Condensed Consolidated Statements of Operations for the three months ended March 31, 2020 and 2019.

Employee Retirement Savings Plans

The Company maintains a 401(k) plan covering defined employees who meet established eligibility requirements, which were last modified on September 30, 2019, effective for contributions made beginning January 1, 2020. Under the current plan provisions, the Company matches 100% of the first 3% and 50% of the next 2% of participant contributions to a maximum matching amount of 4% of participant compensation for most of the Company’s employees. Additionally, participants whose salaries are above a certain threshold are eligible for a Company match of 50% of the first 4% for those participants’ contributions to a maximum matching amount of 2% of participant compensation. The Company’s contributions included in the accompanying Condensed Consolidated Statements of Operations were as follows (in thousands):

 

 

 

 

Three Months Ended March 31,

 

 

 

 

2020

 

 

2019

 

401(k) plan contributions

 

$

780

 

 

$

466