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PENSIONS AND OTHER POSTRETIREMENT BENEFITS
3 Months Ended
Mar. 31, 2015
PENSIONS AND OTHER POSTRETIREMENT BENEFITS  
PENSIONS AND OTHER POSTRETIREMENT BENEFITS

 

9.PENSIONS AND OTHER POSTRETIREMENT BENEFITS

 

Buckeye Pipe Line 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 March 31, 2015 and 2014 (in thousands):

 

 

 

RIGP

 

Retiree Medical Plan

 

 

 

Three Months Ended

 

Three Months Ended

 

 

 

March 31,

 

March 31,

 

 

 

2015

 

2014

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

3

 

$

54

 

$

91

 

$

108

 

Interest cost

 

138

 

134

 

333

 

352

 

Expected return on plan assets

 

(84

)

(98

)

 

 

Amortization of prior service credit

 

 

 

 

(406

)

Amortization of unrecognized losses

 

211

 

308

 

50

 

298

 

Actuarial loss due to settlements

 

 

193

 

 

 

Net periodic benefit cost

 

$

268

 

$

591

 

$

474

 

$

352

 

 

During the three months ended March 31, 2015 and 2014, we contributed $0.2 million and $0.9 million, respectively, in aggregate to the RIGP and Retiree Medical Plan.