($ in thousands)

2016

2015

2014

Change in benefit obligation:

Benefit obligation at beginning of year

$

3,068

$

3,488

$

2,821

Service cost

—

Interest cost

75

70

106

Actuarial (gain) loss

542

(123

)

1,003

Effect of exchange rate changes

(114

)

(356

)

(442

)

Effect of curtailment

—

Benefits paid

(31

)

(11

)

—

Benefit obligation at end of year

3,540

3,068

3,488

Change in plan assets:

Fair value of plan assets at beginning of year

1,557

1,654

1,790

Actual return of plan assets

142

40

47

Company contributions

28

34

43

Benefits paid

(31

)

—

Effect of exchange rate changes

(51

)

(171

)

(226

)

Fair value of plan assets at end of year

1,645

1,557

1,654

Funded status

(1,895

)

(1,511

)

(1,834

)

Unrecognized actuarial loss (gain)

1,831

1,413

1,911

Unrecognized prior service (benefit) cost

—

Additional minimum liability

(1,831

)

(1,413

)

(1,911

)

Unrecognized transition (asset) liability

—

Net amount recognized

$

(1,895

)

$

(1,511

)

$

(1,834

)

Plan Assets

Pension plan assets were comprised of the following asset categories at December 31,

Equity securities

5.7

%

5.0

%

6.4

%

Debt securities

87.2

%

89.3

%

87.4

%

Other

7.1

%

5.7

%

6.2

%

Total

100

%

100

%

100

%

Components of net periodic benefit cost are as follows:

Service cost

$

—

$

—

$

—

Interest cost on projected benefit obligations

75

70

106

Expected return on plan assets

—

Amortization of prior service costs

—

Amortization of actuarial loss

—

Net periodic benefit costs

$

75

$

70

$

106

The weighted average assumptions used to determine net periodic benefit cost for the years ended December 31, were

Discount rate

1.7

%

2.4

%

2.2

%

Expected return on plan assets

4.0

%

4.0

%

4.0

%

Rate of pension increases

2.0

%

2.0

%

2.0

%

Rate of compensation increase

N/A

The following discloses information about the Company’s defined benefit pension plan that had an accumulated benefit obligation in excess of plan assets as of December 31,

Projected benefit obligation

$

3,540

$

3,068

$

3,488

Accumulated benefit obligation

$

3,540

$

3,068

$

3,488

Fair value of plan assets

$

1,645

$

1,557

$

1,654