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Employee Benefit Plans
9 Months Ended
Mar. 31, 2019
Employee Benefit Plans [Abstract]  
Employee Benefit Plans
(10)
Employee Benefit Plans

Defined Benefit Plan

The components of net periodic pension cost related to the defined benefit pension plan for the three and nine months ended March 31, 2019 and 2018 were as follows:

  
Three months ended
March 31,
  
Nine months ended
March 31,
 
(In thousands)
 
2019
  
2018
  
2019
  
2018
 
Interest cost
 
$
54
  
$
55
  
$
162
  
$
165
 
Expected return on plan assets
  
(59
)
  
(62
)
  
(177
)
  
(186
)
Amortization of net loss
  
35
   
42
   
105
   
126
 
Net periodic pension cost
 
$
30
  
$
35
  
$
90
  
$
105
 

The Company made a contribution of $230,000 to the defined benefit pension plan during the nine months ended March 31, 2019.  It does not anticipate that it will make any additional contributions to the defined benefit pension plan during the remainder of fiscal 2019.

SERP

The Board of Directors of Bank of Greene County adopted Bank of Greene County Supplemental Executive Retirement Plan (the “SERP Plan”), effective as of July 1, 2010. The SERP Plan benefits certain key senior executives of the Bank who have been selected by the Board to participate. The SERP Plan is intended to provide a benefit from the Bank upon retirement, death or disability or voluntary or involuntary termination of service (other than “for cause”).  The SERP Plan is more fully described in Note 9 of the consolidated financial statements and notes thereto for the year ended June 30, 2018.

The net periodic pension costs related to the SERP Plan for the three and nine months ended March 31, 2019 were $165,000 and $487,000, respectively, and for the three and nine months ended March 31, 2018 were $108,000 and $316,000, respectively, consisting primarily of service costs and interest costs. The total liability for the SERP Plan was $4.6 million and $3.9 million at March 31, 2019 and June 30, 2018, respectively, and is included in accrued expenses and other liabilities.  The total liability for the SERP Plan includes both accumulated net periodic pension costs and participant contributions.