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Retirement Plans
 9 Months Ended
Sep. 30, 2024
Employee-related Liabilities [Abstract]  
Retirement Plans Retirement Plans
The Company has three retirement plans that cover its hourly and salaried employees in the United States: one defined benefit plan, which is frozen, and two defined contribution plans. Employees are eligible to participate in the appropriate plan based on employment classification. The Company’s contributions to the defined benefit and defined contribution plans are governed by the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the Company’s policy and investment guidelines applicable to each respective plan. The Company’s policy is to contribute at least the minimum in accordance with the funding standards of ERISA. The Company maintains one defined contribution plan for its employees in Canada. In the United Kingdom, the Company maintains two defined contribution plans and a defined benefit plan, which is frozen.

On May 23, 2024, the Company’s Board of Directors approved the termination of our frozen L.B. Foster Company Merged Retirement Plan (the “US DB Plan”) and the Portec Rail Products (UK) Limited Pension Scheme (the “UK DB Plan”). The transfer of plan assets and obligations to insurers and subsequent terminations are expected to be completed by December 31, 2024 for the US DB Plan and by June 30, 2025 for the UK DB Plan, subject to the finalization of agreements with insurance companies.

The Company’s US DB Plan is underfunded as of September 30, 2024, and will require cash payments of approximately $2,000 to $2,500 to effectuate the termination. The estimated cash payments are subject to change due to changes in market conditions that can impact the return on plan assets that are held by the US DB Plan and the UK DB Plan. The UK DB Plan is fully funded as of September 30, 2024, and we do not expect any additional contributions to be required during the termination process.

These plans are discussed in further detail below.

United States Defined Benefit Plan
Net periodic pension costs were as follows for the periods presented:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Interest cost$66 $71 $198 $214 
Expected return on plan assets(68)(64)(204)(192)
Recognized net actuarial loss15 16 45 47 
Net periodic pension cost$13 $23 $39 $69 

The Company has made contributions to its United States defined benefit plan of $356 during the nine months ended September 30, 2024 and expects to make total contributions of approximately $370 during 2024.

United Kingdom Defined Benefit Plan
Net periodic pension costs were as follows for the periods presented:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Interest cost$57 $56 $171 $168 
Expected return on plan assets(95)(84)(285)(252)
Amortization of prior service costs and transition amount6 6 18 18 
Recognized net actuarial loss8 3 24 9 
Net periodic pension income$(24)$(19)$(72)$(57)
United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. For the nine months ended September 30, 2024, the Company contributed approximately $240 to the plan. The Company anticipates total contributions of approximately $334 to the United Kingdom pension plan during 2024.


Defined Contribution Plans
The Company sponsors five defined contribution plans for hourly and salaried employees across its domestic and international facilities. The following table summarizes the expense associated with the contributions made to these plans for the periods presented:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
United States$698 $728 $1,968 $2,135 
Canada39 36 149 131 
United Kingdom304 294 877 881 
$1,041 $1,058 $2,994 $3,147