Pension Plans

3 Months Ended

Sep. 30, 2013

Pension Plans [Abstract]

Pension Plans

(9)           Pension Plans

The Company’s subsidiary, Globe Metallurgical Inc. (GMI), sponsors three noncontributory defined benefit pension plans covering certain domestic employees. These plans were frozen in 2003. The Company’s subsidiary, Core Metals, sponsors a noncontributory defined benefit pension plan covering certain domestic employees. This plan was closed to new participants in April 2009.

The Company’s subsidiary, Quebec Silicon, sponsors a contributory defined benefit pension plan and postretirement benefit plan for certain employees, based on length of service and remuneration. Postretirement benefits consist of a group insurance plan covering plan members for life insurance, disability, hospital, medical, and dental benefits.

The components of net periodic pension expense for the Company’s defined benefit pension plans are as follows:

			Three Months Ended
			September 30,
			2013	2012
Interest cost		$	766	810
Service cost			611	609
Expected return on plan assets			(682)	(630)
Amortization of net loss			314	437
	Net periodic pension expense	$	1,009	1,226

The Company expects to make discretionary contributions of approximately $3,205 to the plans for the fiscal year ended June 30, 2014, of which $897 has been contributed through September 30, 2013.