Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plans

v2.4.0.8
Employee Benefit Plans
 3 Months Ended
Jun. 30, 2013
Employee Benefit Plans [Abstract]  
EMPLOYEE BENEFIT PLANS

NOTE 10 – EMPLOYEE BENEFIT PLANS:

 

The components of pension cost are as follows:

 

                 
    Three Months Ended
June 30,		  
    2013     2012  

Service cost

   $ 144     $ 136  

Interest cost

     340       357  

Expected return on assets

     (682 )      (684 ) 

Amortization of:

                

Unrecognized prior service cost

     1       1  

Actuarial loss

     250       252  
   

 

 

    

 

 

  

Net pension cost

   $ 53     $ 62  
   

 

 

    

 

 

  

The Company made no contributions to its defined benefit pension plan during the three months ended June 30, 2013 and does not expect to make any contributions to the plan for the balance of fiscal 2014.

The components of the postretirement benefit income are as follows:

 

                 
    Three Months Ended
June 30,		  
    2013     2012  

Service cost

   $ —       $ —    

Interest cost

     8       9  

Amortization of prior service benefit

     (41 )      (41 ) 

Amortization of actuarial loss

     11       10  
   

 

 

    

 

 

  

Net postretirement benefit income

   $ (22 )    $ (22 ) 
   

 

 

    

 

 

  

 

The Company paid benefits of $0 related to its postretirement benefit plan during the three months ended June 30, 2013. The Company expects to pay benefits of approximately $107 for the balance of fiscal 2014.