. Components of Net Periodic Benefit Cost

Pension Plan, Retirement Income Maintenance Plan (the "RIM Plan") and Post-retirement Plan

The Company maintains a single employer, tax-qualified defined benefit pension plan (the "Pension Plan") which covers full-time employees that satisfy the plan eligibility requirements. The benefits are based on years of service and the employee's compensation during the last five years of employment. Effective October 1, 2018, employees hired by the Bank are not eligible to participate in the Bank's pension plan as the plan has been closed to new employees as of that date.

The Company also has a Retirement Income Maintenance Plan (the "RIM "Plan) which is a non-qualified defined benefit plan which provides benefits to all employees of the Company if their benefits under the Pension Plan are limited by Internal Revenue Code 415 and 401(a)(17).

In addition, the Company provides certain health care and life insurance benefits to eligible retired employees under a Post-retirement Plan. The Company accrues the cost of retiree health care and other benefits during the employees’ period of active service. Effective January 1, 2019, the Post-retirement Plan has been closed to new hires. The Company also provides life insurance benefits to eligible employees under an endorsement split-dollar life insurance program.

9. Components of Net Periodic Benefit Cost (continued)

Net periodic benefit (income) cost for Pension Plan, RIM Plan, Post-retirement Plan and split-dollar life insurance arrangement plan benefits for the three months ended March 31, 2019 and 2018, includes the following components:



	For the Three Months Ended March 31,
	Pension Plan						RIM Plan				Post-retirement Plans
	2019			2018			2019		2018		2019		2018			Affected Line Item in the Consolidated Statements of Income
	(In thousands)

Service cost	$	1,501		$	1,780		$	53	$	61	$	172	$	187		Compensation and employee benefits
Interest cost	2,194			2,129			116		111		321		312			Other non-interest expense
Expected return on plan assets	(4,727		)	(4,815		)	—		—		—		—			Other non-interest expense
Amortization:
Prior service cost	—			—			—		—		14		(26		)	Other non-interest expense
Net loss	765			707			61		103		99		195			Other non-interest expense
Net periodic (income) cost	$	(267	)	$	(199	)	$	230	$	275	$	606	$	668

Effective January 1, 2019, the Company implemented ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost. Under this ASU, the FASB requires employers to report the service cost component in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit cost are required to be presented in the consolidated statements of income separately from the service cost component. The table above details the affected line items within the consolidated statements of income related to the net periodic benefits costs for the periods noted. This ASU is also required to be applied retrospectively to all periods presented.

The following table summarizes the impact of retrospective application to the consolidated statement of income for the three months ended March 31, 2018:



	Three Months Ended
	March 31, 2018
	(In thousands)
Compensation and employee benefits:
As previously reported	$	16,525
As reported under new guidance	18,050

Other non-interest expense:
As previously reported	$	3,075
As reported under new guidance	1,550

In its consolidated financial statements for the year ended December 31, 2018, the Company previously disclosed that it does not expect to contribute to the Pension Plan in 2019. As of March 31, 2019, no contributions have been made to the Pension Plan. The net periodic cost (income) for pension benefits and other post-retirement benefits for the three months ended March 31, 2019 were calculated using the actual December 31, 2018 benefit valuations.