v3.26.1
Benefit Plans
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Benefit Plans Benefit Plans
H2O America maintains noncontributory defined benefit pension plans for its eligible employees. SJWC employees hired before March 31, 2008 and CWC and MWC employees hired before January 1, 2009 are entitled to benefits under the pension plans based on the employee’s years of service and compensation. For SJWC employees hired on or after March 31, 2008, benefits are determined using a cash balance formula based upon compensation credits and interest credits for each employee. Starting in 2023, TWC employees are also eligible to participate under SJWC’s cash balance plan. Certain employees hired before March 1, 2012, and covered by a plan merged into the CWC plan in 2013 are also entitled to benefits based on the employee’s years of service and compensation. CTWS employees hired on or after January 1, 2009, are entitled to an additional 3.0% of eligible compensation to their company sponsored savings plan. H2O America does not have multi-employer plans.
In addition, senior management hired before March 31, 2008, for SJWC and January 1, 2009 for CWC, are eligible to receive additional retirement benefits under supplemental executive retirement plans and retirement contracts. SJWC’s senior management hired on or after March 31, 2008, are eligible to receive additional retirement benefits under SJWC’s Cash
Balance Executive Supplemental Retirement Plan. The supplemental retirement plans and Cash Balance Executive Supplemental Retirement Plan are non-qualified plans in which only senior management and other designated members of management may participate. H2O America also provides health care and life insurance benefits for retired employees under employer-sponsored postretirement benefits that are not pension plans.
The components of net periodic benefit costs for the defined benefit plans and other postretirement benefits are as follows:
 Pension BenefitsOther Benefits
Three months ended June 30,
 2026202520262025
(In thousands)
Service cost$1,722 1,644 $147 156 
Interest cost3,944 3,901 320 337 
Expected return on assets(5,244)(4,944)(293)(295)
Amortization of actuarial gain
(353)(458)(220)(214)
Amortization of prior service cost29 4 — — 
Total$98 147 $(46)(16)
 Pension BenefitsOther Benefits
Six months ended June 30,
 2026202520262025
(In thousands)
Service cost$3,428 3,287 $290 312 
Interest cost7,842 7,801 630 674 
Expected return on assets(10,535)(9,887)(575)(590)
Amortization of actuarial gain
(766)(915)(477)(428)
Amortization of prior service cost58 7 — — 
Total$27 293 $(132)(32)
In 2026, H2O America expects to make required and discretionary cash contributions of up to $5.8 million to the pension plans and other postretirement benefits. For the three and six months ended June 30, 2026, H2O America has made $1.4 million and $3.3 million of contributions to such plans.