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Employee Benefit Plans
 6 Months Ended
Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans
Employee Benefit Plans
The Company sponsored a qualified defined-benefit pension plan and a post-retirement benefit plan (collectively, “the Pension Plans”). The plans were frozen as of September 30, 1986, and since then there have been no new entrants to the Pension Plans.
The following table provides the components of the net periodic benefit cost (income) of the qualified defined-benefit pension plan (in millions):

Three Months Ended

Six Months Ended

June 30,

June 30,

2015

2014

2015
 
2014
PENSION BENEFITS







Interest cost
$
0.4


$
0.4


$
0.8


$
0.8

Expected return on plan assets
(0.5
)

(0.6
)

(1.0
)

(1.2
)
Amortization of net actuarial loss
0.2


0.1


0.3


0.2

Net periodic benefit cost (income)
$
0.1


$
(0.1
)

$
0.1


$
(0.2
)

The Company incurred $0.1 million in net periodic benefit cost related to the post-retirement benefit plan for the three and six months ended June 30, 2015 and 2014.
The Company made no contributions to the Pension Plans during the three and six months ended June 30, 2015, compared to contributions of $0.9 million and $1.6 million for the three and six months ended June 30, 2014, respectively. No minimum contribution to the defined-benefit pension plan is required in 2015 and the Company does not expect to make discretionary contributions given the plan’s funded status. During the remainder of 2015, the Company expects to contribute a total of $0.2 million to the post-retirement benefit plan.
Core-Mark offers certain plan participants the option to receive a lump sum payment in lieu of future annuity pension benefits. As a result, the Company expects that it will remeasure its plan obligation and record a settlement charge once the lump sum payments exceed thresholds calculated under GAAP. The Company expects to recognize settlement charges between $2.2 million and $2.5 million in 2015 related to the lump sum payments and other activities, assuming a 75% acceptance rate and discount rates as of June 30, 2015.