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Benefit Plans
 6 Months Ended
Jun. 30, 2021
Benefit Plans [Abstract]  
Benefit Plans
(3) Benefit Plans

The table below outlines the components of the Company’s net periodic benefit recognized during the three and six months ended June 30, 2021 and 2020 for its pension and other postretirement benefit plans:

 
Three months ended June 30,
  
 
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2021
    
2020
    
2021
    
2020
  
                         
Service (credit) cost
  
$
(11
)
    
7
      
26
      
21
  
Interest cost
    
212
      
272
      
39
      
58
  
Expected return on plan assets
    
(662
)
    
(691
)
    
(290
)
    
(296
)
Amortization of net loss (gain)
    
-
      
5
      
(169
)
    
(148
)
Amortization of prior service cost (credit)
    
-
      
-
      
102
      
(49
)
Net periodic benefit
  
$
(461
)
    
(407
)
    
(292
)
    
(414
)

 
Six months ended June 30,
  
 
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2021
    
2020
    
2021
    
2020
  
                         
Service cost
  
$
-
      
19
      
48
      
40
  
Interest cost
    
428
      
538
      
83
      
112
  
Expected return on plan assets
    
(1,423
)
    
(1,510
)
    
(617
)
    
(592
)
Amortization of net loss (gain)
    
-
      
5
      
(397
)
    
(314
)
Amortization of prior service cost (credit)
    
-
      
-
      
50
      
(98
)
Net periodic benefit
  
$
(995
)
    
(948
)
    
(833
)
    
(852
)

The Company does not expect to make contributions to its pension and postretirement benefit plans in 2021.  As of June 30, 2021, no contributions have been made, however, this decision is reviewed each quarter and is subject to change based upon market conditions.

Since 2003, the Company has not subsidized retiree medical insurance premiums.  However, it continues to provide postretirement medical benefits to a limited number of current and retired executives in accordance with the terms of their employment contracts.