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Components of Net Periodic Benefit Cost
9 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Cost Components of Net Periodic Benefit Cost
Three Months Ended September 30,Nine Months Ended September 30,
(Dollar amounts in thousands)Pension BenefitsPost-Retirement
Health Benefits
Pension BenefitsPost-Retirement
Health Benefits
 20212020202120202021202020212020
Service cost$339 $325 $10 $10 $1,016 $975 $32 $29 
Interest cost658 779 26 32 1,974 2,337 77 94 
Expected return on plan assets(1,178)(1,050)— — (3,535)(3,149)— — 
Net amortization of prior service cost— — — — — — 
Net amortization of net (gain) loss518 492 — — 1,554 1,476 — — 
Net Periodic Benefit Cost$337 $547 $36 $42 $1,009 $1,640 $109 $123 
 
Employer Contributions
 
First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2020 that it expected to contribute $2.3 million and $715 thousand respectively to its Pension Plan and ESOP and $240 thousand to the Post Retirement Health Benefits Plan in 2021. Contributions of $1.5 million have been made to the Pension Plan thus far in 2021. Contributions of $167 thousand have been made through the first nine months of 2021 for the Post Retirement Health Benefits plan. No contributions have been made in 2021 for the ESOP. The Pension plan was frozen for most employees at the end of 2012 and for those employees there will be discretionary contributions to the ESOP plan and a 401K plan in place of the former Pension benefit. In the first nine months of 2021 and 2020 there has been $2.3 million and $1.4 million of expense accrued for potential contributions to these alternative retirement benefit options.