Pension Plan

9 Months Ended

Sep. 30, 2011

Pension Plan

Pension Plan

Note 3 – PENSION PLAN

A summary of the components of net periodic pension cost is as follows:

	Three Months Ended Sept. 30				Nine Months Ended Sept. 30
	2011		2010		2011		2010
Service cost	$	69,911	$	61,605	$	209,735	$	184,817
Interest cost		79,965		79,668		239,895		239,002
Expected return on assets		–108,397		–96,745		–325,193		–290,237
Amortization of net loss		76,587		54,428		229,761		163,285
Amortization of prior service cost		4,367		4,367		13,102		13,102
Net periodic pension cost	$	122,433	$	103,323	$	367,300	$	309,969

The plan's annual actuarial valuation was performed as of the plan's fiscal year-end March 31.  The actuarially recommended contribution to the pension plan for 2011 was $551,124, which contribution was made in August 2011.