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PENSIONS AND OTHER POSTRETIREMENT BENEFITS
9 Months Ended
Sep. 30, 2013
PENSIONS AND OTHER POSTRETIREMENT BENEFITS  
PENSIONS AND OTHER POSTRETIREMENT BENEFITS

9.     PENSIONS AND OTHER POSTRETIREMENT BENEFITS

 

Buckeye Pipe Line Services Company (“Services Company”), which employs the majority of our workforce, sponsors a defined benefit plan, the Retirement Income Guarantee Plan (the “RIGP”), and an unfunded post-retirement benefit plan (the “Retiree Medical Plan”).  The components of the net periodic benefit cost for the RIGP and Retiree Medical Plan were as follows for the three months ended September 30, 2013 and 2012 (in thousands):

 

 

 

RIGP

 

Retiree Medical Plan

 

 

 

Three Months Ended

 

Three Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

41

 

$

51

 

$

166

 

$

82

 

Interest cost (credit)

 

(11

)

206

 

159

 

415

 

Expected return on plan assets

 

(67

)

(140

)

 

 

Amortization of prior service cost (credit)

 

 

 

147

 

(623

)

Amortization of unrecognized losses

 

239

 

231

 

265

 

319

 

Actuarial loss due to settlements

 

230

 

930

 

 

 

Net periodic benefit cost

 

$

432

 

$

1,278

 

$

737

 

$

193

 

 

The components of the net periodic benefit cost for the RIGP and the Retiree Medical Plan were as follows for the nine months ended September 30, 2013 and 2012 (in thousands):

 

 

 

RIGP

 

Retiree Medical Plan

 

 

 

Nine Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

163

 

$

183

 

$

323

 

$

236

 

Interest cost

 

403

 

620

 

1,056

 

1,345

 

Expected return on plan assets

 

(294

)

(340

)

 

 

Amortization of prior service credit

 

 

 

(1,218

)

(2,047

)

Amortization of unrecognized losses

 

924

 

1,028

 

895

 

945

 

Actuarial loss due to settlements

 

683

 

930

 

 

 

Net periodic benefit cost

 

$

1,879

 

$

2,421

 

$

1,056

 

$

479

 

 

During the three months ended September 30, 2013 and 2012, we contributed approximately $0.3 million and $0.2 million, respectively, in aggregate to the RIGP and Retiree Medical Plans.  For the nine months ended September 30, 2013 and 2012, we contributed approximately $1.0 million and $2.7 million, respectively, in aggregate to the RIGP and Retiree Medical Plans.