Pension and Employee Benefit Plans

6 Months Ended

Jun. 30, 2012

Pension and Employee Benefit Plans [Abstract]

Pension and Employee Benefit Plans

9. Pension and Employee Benefit Plans

We sponsor a non-contributory defined benefit pension plan for certain union employees. The plan is funded in accordance with the funding requirements of the Employee Retirement Income Security Act of 1974.

We also sponsor a postretirement health care plan for office employees retiring before January 1, 1990. The plan allows retirees who have attained the age of 65 to elect the type of coverage desired.

Retirement and health care plan expense is based on valuations performed by plan actuaries as of the beginning of each fiscal year. The components of the expense consisted of the following:

	Three Months Ended June 30,						Six Months Ended June 30,
(dollars in thousands)	2012			2011			2012			2011
Pension plan:
Service cost	$	15		$	10		$	30		$	20
Interest cost		82			92			164			184
Expected return on plan assets		(94	)		(97	)		(188	)		(194	)
Amortization of net actuarial loss		83			63			166			126
Net periodic benefit cost	$	86		$	68		$	172		$	136
Health care plan:
Interest cost	$	1		$	—		$	2		$	—
Amortization of gain		(2	)		(1	)		(4	)		(2	)
Net periodic benefit cost	$	(1	)	$	(1	)	$	(2	)	$	(2	)

For the six months ended June 30, 2012, we made contributions to our defined benefit plans totaling $159,000. We anticipate contributing $217,000 to fund the pension plan and $13,000 for the retiree health care plan during the remainder of fiscal 2012.