EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2017

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

NOTE 8: EMPLOYEE BENEFIT PLANS

Pension Plan

Prior to January 1995, we maintained a noncontributory defined benefit plan (the “Pension Plan”) covering all eligible employees. During 1995, the Pension Plan was curtailed. Accordingly, all accrued benefits were fully vested and no additional years of service or age will be accrued.

The following tables summarize the components of net periodic benefit cost and other changes in Pension Plan assets and benefit obligations recognized in other comprehensive income for the three months ended March 31, 2017 and 2016:

	Three Months Ended
	March 31,
(In thousands)	2017		2016
Interest cost	$	113	$	112
Expected return on plan assets		(111)		(242)
Service costs		13		14
Net loss amortization		110		116
Net periodic pension benefit	$	125	$	—

We have no minimum required contribution for 2017.

Our Pension Investment Policy Statement sets forth the investment objectives and constraints of the Pension Plan. The purpose of the policy is to assist our Retirement Plan Committee in effectively supervising, monitoring, and evaluating the Pension Plan.