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PENSION PLAN
3 Months Ended
Mar. 31, 2014
PENSION PLAN  
PENSION PLAN

(11)            PENSION PLAN

 

The Partnership sponsors a defined benefit pension plan covering employees that are members of a union bargaining unit.  The Partnership’s funding policy is to contribute an amount to the plan sufficient to meet the minimum funding requirements set forth in the Employee Retirement Income Security Act of 1974.

 

The components of net periodic benefit cost consisted of the following (in thousands):

 

 

 

Pension Benefits

 

 

 

Three Months Ended March 31,

 

 

 

2014

 

2013

 

Service Cost

 

$

16

 

$

22

 

Interest Cost

 

15

 

13

 

Expected Return on Assets

 

(17

)

(14

)

Amortization of Unrecognized Prior Service Costs

 

2

 

2

 

Amortization of Unrecognized Loss

 

 

5

 

Net Periodic Pension Cost

 

$

16

 

$

28