Employee Benefit Plans

9 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

The net periodic pension cost for the Corporation’s Defined Benefit Pension Plan ("Pension Plan") consisted of the following components:

	Three months ended September 30				Nine months ended September 30
	2020		2019		2020		2019
	(in thousands)
Interest cost	$	681	$	813	$	2,043	$	2,443
Expected return on plan assets	(982)		(688)		(2,946)		(2,066)
Net amortization and deferral	465		496		1,395		1,486
Net periodic pension cost	$	164	$	621	$	492	$	1,863

The components of the net benefit for the Corporation’s Postretirement Benefits Plan ("Postretirement Plan") consisted of the following components:

	Three months ended September 30				Nine months ended September 30
	2020		2019		2020		2019
	(in thousands)
Interest cost	$	11	$	15	$	33	$	45
Net accretion and deferral	(137)		(139)		(411)		(417)
Net periodic benefit	$	(126)	$	(124)	$	(378)	$	(372)

The Corporation recognizes the funded status of its Pension Plan and Postretirement Plan on the consolidated balance sheets and recognizes the change in that funded status through other comprehensive income.