The Company maintains a salary savings plan that covers substantially all of its employees. The Company matches voluntary tax deferred employee contributions at of eligible deferrals up to a maximum of of the participants’ compensation. The Company at the discretion of its Board, contribute an additional amount based upon a percentage of covered employees’ salaries. The Company did make a discretionary contribution during or Discretionary contributions are allocated among participants in the ratio that each participant’s compensation bears to all participants’ compensation. Eligible employees are presented with numerous investment alternatives related to the salary savings plan. Those alternatives include various stock and bond mutual funds ranging from traditional growth funds to more stable income funds as well as an option to invest in bank certificates of deposits. Company shares are not an available investment alternative in the salary savings plan. Total retirement plan expense for and was thousand, thousand, and thousand, respectively.

 

In connection with its acquisition of Citizens Northern, the Company acquired nonqualified supplemental retirement plans for certain key employees. Benefits provided under these plans are unfunded, and payments to plan participants are made by the Company.

The following schedules set forth a reconciliation of the changes in the supplemental retirement plans’ benefit obligation and funded status for the years ended and

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The following table provides disclosure of the net periodic benefit cost as of for the years indicated

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The following table presents estimated future benefit payments in the period indicated.

Amounts recognized in accumulated other comprehensive income as of and are as follows:

The estimated cost that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is as follows: