Pension and Post-Retirement Benefits

3 Months Ended

Mar. 31, 2016

Compensation and Retirement Disclosure [Abstract]

NOTE L—PENSION AND POST-RETIREMENT BENEFITS

We maintain a single-employer noncontributory defined benefit pension plan covering certain employees. Net pension benefit cost (in thousands) recognized for the three months ended March 31, 2016 and 2015 are as follows:



	Three Months Ended March 31,
	2016			2015
Service cost	$	288		$	324
Interest cost	1,235			1,203
Expected return on plan assets	(1,392		)	(1,375		)
Net amortization and deferral	481			666
Net pension benefit costs	$	612		$	818

In addition, we provide defined benefit post-retirement health care and life insurance benefits to some employees. Net periodic post-retirement benefit cost (in thousands) recognized for the three months ended March 31, 2016 and 2015 are as follows:



	Three Months Ended March 31,
	2016		2015
Service cost	$	44	$	44
Interest cost	306		277
Expected return on plan assets	—		(1		)
Net amortization and deferral	135		96
Net post-retirement costs	$	485	$	416

The weighted average discount rate used to determine the projected pension and post-retirement obligations was updated during the three months ended March 31, 2016, and was decreased from 4.5% at December 31, 2015 to 4.1% at March 31, 2016. We made no contributions to the qualified pension plan for the three months ended March 31, 2016 and 2015. Total expected employer funding contributions during the fiscal year ending December 31, 2016 are $0 for the pension plan and $1.4 million for the post-retirement medical and life plan.