EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2013

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

NOTE 6 — EMPLOYEE BENEFIT PLANS

The Cooperative sponsors a defined benefit pension plan for former employees of the Cooperative who met eligibility requirements of age and length of service.  The plan was frozen effective January 1, 2013 and no current employees of the Cooperative will participate in the plan in the future.  While the plan is frozen, the Cooperative will continue to fund the plan until it is fully funded.  Components of Net Periodic Benefit Cost for the three-months ended March 31, 2013 and March 31, 2012:

	March 31,			March 31,
	2013			2012
Service Cost	$	—		$	10
Interest Cost	11			9
Expected return on plan assets	(12		)	(8		)
Amortization of net (gain) loss	19			6
Net periodic pension cost	$	18		$	17

Through the three-months ended March 31, 2013, the Cooperative has made $69,000 contributions as compared to $11,000 through the three-months ended March 31, 2012.  Even though the plan is frozen, the Cooperative anticipates contributing $72,000 in additional funds to its pension plan in 2013, for a total of $141,000.  Contributions in 2012 totaled $75,500.