2012

2011

Changes in Benefit Obligation:

Benefit obligation at beginning of year

$55,480

$45,855

Service cost

2,694

2,903

Interest cost

2,701

2,575

Benefits paid

(1,023)

(584)

Actuarial loss

7,327

4,731

Benefit obligation at end of year

$67,179

$55,480

Changes in Plan Assets:

Fair value of plan assets at beginning of year

$33,967

$27,556

Actual return on plan assets

1,245

3,880

Employer contributions

3,227

3,115

Benefits paid

(1,023)

(584)

Fair value of plan assets at end of year

37,416

33,967

Funded status at end of year

$(29,763)

$(21,513)

Amounts recognized in the consolidated balance sheets:

Pension liabilities

$(29,763)

$(21,513)

Accumulated other comprehensive loss, net of income taxes

(15,474)

(11,142)

Amounts included in Accumulated other comprehensive loss (pre-tax):

Net actuarial loss

$25,783

$18,533

Prior service cost

8

16

-

$25,791

$18,549