Components of Periodic Benefit Costs

The Bank has a defined benefit pension plan (the "Pension Plan") covering its full-time employees who satisfy the eligibility requirements. The benefits are based on years of service and the employee's compensation during the last five years of employment. Costs of the Pension Plan, based on the actuarial computations of the current future benefits for employees, are recognized to expense and are funded in part based on the maximum amount that can be deducted for federal income tax purposes. The Pension Plan’s assets are primarily invested in fixed debt and equity securities.

In addition to the Pension Plan, certain health care and life insurance benefits are made available to retirement employees (the "Post-retirement Plan").

The Bank has a retirement income maintenance plan (the "RIM Plan"). The RIM Plan is a non-qualified defined benefit plan which provides benefits to all employees of the Bank if their benefits under the Pension Plan are limited by the Internal Revenue Code Sections 415 and 401(a)(17).

Net periodic benefit cost (income) for pension benefits and other benefits for the three and six months ended June 30, 2018 and 2017 includes the following components:



	For the Three Months Ended June 30,
	Pension						RIM				Post-retirement
	2018			2017			2018		2017		2018			2017
	(In thousands)
Service cost	$	1,780		$	1,547		$	61	$	35	$	93		$	112
Interest cost	2,129			2,024			111		96		205			214
Expected return on plan assets	(4,815		)	(5,677		)	—		—		—			—
Amortization:
Prior service cost	—			—			—		—		(34		)	(34		)
Net loss	707			2,123			103		71		69			85
Net periodic cost (income)	$	(199	)	$	17		$	275	$	202	$	333		$	377



	For the Six Months Ended June 30,
	Pension						RIM				Post-retirement
	2018			2017			2018		2017		2018			2017
	(In thousands)
Service cost	$	3,560		$	3,094		$	122	$	70	$	186		$	224
Interest cost	4,258			4,048			222		192		410			428
Expected return on plan assets	(9,630		)	(11,354		)	—		—		—			—
Amortization:
Prior service cost	—			—			—		—		(68		)	(68		)
Net loss	1,414			4,246			206		142		138			170
Net periodic cost (income)	$	(398	)	$	34		$	550	$	404	$	666		$	754

The net periodic benefit cost (income) for pension benefits and other benefits at June 30, 2018 were calculated using the December 31, 2017 third party actuarial valuation reports. For June 30, 2017, the September 30, 2016 third party actuarial valuation reports were utilized as a proxy to estimate the net periodic benefit cost for pension benefits.