EMPLOYEE RETIREMENT PLANS

3 Months Ended

Mar. 31, 2017

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)	2017			2016
Pension plans:
Service cost	$	3,860		$	3,640
Interest cost	2,795			2,525
Expected return on plan assets	(5,191		)	(4,840		)
Amortization of net actuarial loss	908			1,039
Amortization of prior service cost	5			8
Net periodic pension benefit cost	$	2,377		$	2,372
Postretirement benefit plans:
Service cost	$	341		$	318
Interest cost	570			554
Expected return on plan assets	(1,078		)	(1,056		)
Amortization of net actuarial loss	343			374
Amortization of prior service credit	(2,789		)	(2,835		)
Net periodic postretirement benefit income	$	(2,613	)	$	(2,645	)

Net periodic pension benefit cost allocated to the Company amounted to $713,000 and $730,000 for the three months ended March 31, 2017 and 2016, respectively.  Net periodic postretirement benefit income allocated to the Company amounted to $736,000 and $761,000 for the three months ended March 31, 2017 and 2016, respectively.

The Company’s share of Employers Mutual’s remaining 2017 planned contribution to the pension plan, if made, will be approximately $2.7 million. No contributions will be made to the Voluntary Employee Beneficiary Association (VEBA) trust in 2017.