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EMPLOYEE RETIREMENT PLANS
 9 Months Ended
Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE RETIREMENT PLANS
EMPLOYEE RETIREMENT PLANS
The components of net periodic benefit cost (income) for Employers Mutual’s pension and postretirement benefit plans is as follows:
 
 
Three months ended 
 September 30,
 
Nine months ended 
 September 30,
 
 
2014
 
2013
 
2014
 
2013
Pension plans:
 
 
 
 
 
 
 
 
Service cost
 
$
3,216

 
$
3,302

 
$
9,647

 
$
9,909

Interest cost
 
2,416

 
1,914

 
7,248

 
5,742

Expected return on plan assets
 
(5,183
)
 
(4,288
)
 
(15,549
)
 
(12,863
)
Amortization of net actuarial loss
 
91

 
1,491

 
274

 
4,472

Amortization of prior service cost
 
8

 
13

 
24

 
38

Net periodic pension benefit cost
 
$
548

 
$
2,432

 
$
1,644

 
$
7,298

 
 
 
 
 
 
 
 
 
Postretirement benefit plans:
 
 
 
 
 
 
 
 
Service cost
 
$
315

 
$
1,575

 
$
945

 
$
4,725

Interest cost
 
564

 
1,543

 
1,691

 
4,629

Expected return on plan assets
 
(1,099
)
 
(908
)
 
(3,297
)
 
(2,723
)
Amortization of net actuarial loss
 
413

 
923

 
1,238

 
2,770

Amortization of prior service credit
 
(2,867
)
 
(622
)
 
(8,600
)
 
(1,868
)
Net periodic postretirement benefit cost (income)
 
$
(2,674
)
 
$
2,511

 
$
(8,023
)
 
$
7,533



The net periodic postretirement benefit income recognized on Employers Mutual's postretirement benefit plans during the three and nine months ended September 30, 2014 is due to a plan amendment that was announced in the fourth quarter of 2013. This plan amendment generated a large prior service credit that is being amortized into net periodic benefit cost over 10 years. In addition, the service cost and interest cost components of net periodic benefit cost of the revised plan declined significantly.
Net periodic pension benefit cost allocated to the Company amounted to $170 and $753 for the three months and $510 and $2,260 for the nine months ended September 30, 2014 and 2013, respectively.  Net periodic postretirement benefit cost (income) allocated to the Company amounted to $(770) and $728 for the three months and $(2,312) and $2,184 for the nine months ended September 30, 2014 and 2013, respectively.
The Company’s share of Employers Mutual’s 2014 planned contributions to the pension plan and the Voluntary Employee Beneficiary Association (VEBA) trust, if made, will be approximately $4,500 and $0, respectively.