Upon retirement, if a qualifying employee elects to receive medical benefits under our Post-65
Plan, we pay up to a maximum monthly benefit of $350 based on years of service.
The following table sets forth information regarding our DB Plan and our OPEB Plans as of
December 31, 2018 and for the year then ended:
(in thousands) DB Plan OPEB Plans
Projected benefit obligations $ 27,369 $ 3,735
Employer contribution 1,097 11
Benefits paid, excluding expenses (648) (58)
Fair value of plan assets 17,348 534
Accumulated benefit obligation 24,823 -
Funded status (10,021) (3,201)
Net periodic benefit cost 1,286 251
Amount of the funded status recognized in the
Consolidated Balance Sheet consisted of
Current liability - -
Non-current bability (10,021) (3,201)
Total $ (10,021) $ (3,201)
The following table sets forth information regarding our DB Plan and our OPEB Plans as of
December 31, 2017 and for the year then ended:
(in thousands) DB Plan OPEB Plans
Projected benefit obligations $ 27,558 $ 3,660
Employer contribution 1111 11
Benefits paid, excluding expenses (643) (52)
Fair value of pian assets 17,766 612
Accumulated benefit obligation 24,760 -
Funded status (9,792) (3,047)
Net periodic benefit cost 1,368 218
Amount of the funded status recognized in the
Consolidated Balance Sheet consisted of:
Current liability - -
Non-current liability (9,792) (3,047)
Total $ (9,792) $ (3,047)
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