EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

The Company provides postretirement benefits in the form of two unfunded postretirement medical plans; one that under a collective bargaining agreement covers eligible retired employees of the Verona facility and a plan for those named as executive officers in the Company’s proxy statement.

Net periodic benefit costs for such retirement medical plans were as follows:

	Three Months Ended March 31,
	2019			2018
Service cost	$	16		$	19
Interest cost	10			11
Amortization of prior service cost	18			18
Amortization of gain	(11		)	(1		)
Net periodic benefit cost	$	33		$	47

The amount recorded for these obligations on the Company’s balance sheet as of March 31, 2019 and December 31, 2018 is $1,200 and $1,174, respectively, and is included in other long-term obligations. These plans are unfunded and approved claims are paid from Company funds. Historical cash payments made under such plan have typically been less than $100 per year.

On June 1, 2018, the Company established an unfunded, nonqualified deferred compensation plan maintained for the benefit of a select group of management or highly compensated employees.  Assets of the plan are held in a rabbi trust, which are subject to additional risk of loss in the event of bankruptcy or insolvency of the Company.  The deferred compensation liability was $1,513 and $265 as of March 31, 2019 and December 31, 2018, respectively, and is included in other long-term obligations on the Company’s balance sheet. The related rabbi trust assets were $1,513 and $265 as of March 31, 2019 and December 31, 2018, respectively, and are included in other non-current assets on the Company's balance sheet.