EMPLOYEE RETIREMENT PLANS

3 Months Ended

Mar. 31, 2015

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   March 31,
($ in thousands)	2015			2014
Pension plans:
Service cost	$	3,644		$	3,191
Interest cost	2,278			2,381
Expected return on plan assets	(5,075		)	(5,183		)
Amortization of net actuarial loss	517			64
Amortization of prior service cost	8			8
Net periodic pension benefit cost	$	1,372		$	461
Postretirement benefit plans:
Service cost	$	353		$	315
Interest cost	537			564
Expected return on plan assets	(1,104		)	(1,099		)
Amortization of net actuarial loss	436			413
Amortization of prior service credit	(2,866		)	(2,867		)
Net periodic postretirement benefit income	$	(2,644	)	$	(2,674	)

Net periodic pension benefit cost allocated to the Company amounted to $421,000 and $144,000 for the three months ended March 31, 2015 and 2014, respectively.  Net periodic postretirement benefit income allocated to the Company amounted to $762,000 and $771,000 for the three months ended March 31, 2015 and 2014, respectively.

The Company’s share of Employers Mutual’s 2015 planned contribution to the pension plan, if made, will be approximately $2.1 million. No contributions will be made to the Voluntary Employee Beneficiary Association (VEBA) trust in 2015.