Post Retirement Benefits

9 Months Ended

Sep. 30, 2014

Compensation and Retirement Disclosure [Abstract]

Post Retirement Benefits

Post Retirement Benefits

The components of expense for Core Molding Technologies’ post retirement benefit plans for the three and nine months ended September 30, 2014 and 2013 are as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Pension expense:
Multi-employer plan contributions	$	178,000		$	112,000		$	514,000		$	327,000
Defined contribution plan contributions	169,000			147,000			530,000			432,000
Total pension expense	347,000			259,000			1,044,000			759,000
Health and life insurance:
Interest cost	69,000			83,000			207,000			249,000
Amortization of prior service costs	(124,000		)	(124,000		)	(372,000		)	(372,000		)
Amortization of net loss	12,000			51,000			36,000			151,000
Net periodic benefit cost	(43,000		)	10,000			(129,000		)	28,000
Total post retirement benefits expense	$	304,000		$	269,000		$	915,000		$	787,000

The Company made payments of $1,006,000 to pension plans and $474,000 for post retirement healthcare and life insurance during the nine months ended September 30, 2014. For the remainder of 2014, the Company expects to make approximately $277,000 of pension plan payments. The Company also expects to make approximately $158,000 of post retirement healthcare and life insurance payments for the remainder of 2014, all of which were accrued at September 30, 2014.