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EMPLOYEE BENEFIT PLANS
 3 Months Ended
Mar. 31, 2020
EMPLOYEE BENEFIT PLANS.  
EMPLOYEE BENEFIT PLANS

NOTE 5 – EMPLOYEE BENEFIT PLANS

 

Pension Plan – In December 2012, the Cooperative approved a change to freeze the Cooperative’s defined benefit plan. As a result, no additional benefits will accrue to participants in the plan and no new employees are eligible for the plan.

 

The following schedules provide the components of Net Periodic Benefit Cost for the three months ended March 31, 2020 and March 31, 2019 (in thousands):  

 

 

 

 

 

 

 

 

 

 

 

    

March 31, 

    

March 31, 

 

 

 

2020

    

2019

 

Interest Cost

 

$

 7

 

$

 8

 

Expected Return on Plan Assets

 

 

(11)

 

 

(14)

 

Amortization of Net (Gain) Loss

 

 

 —

 

 

 —

 

Net Periodic Pension Cost

 

$

(4)

 

$

(6)

 

 

Through the three months ended March 31, 2020, the Cooperative has made $0 in contributions as compared to $0 through the three months ended March 31, 2019.  The Cooperative does not anticipate making a contribution in 2020. Contributions in 2019 totaled $0.