Note 3 – PENSION PLAN

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



	Three Months Ended September 30				Nine Months Ended September 30
	2014		2013		2014		2013
Service cost	$	77,583	$	81,424	$	232,751	$	244,270
Interest cost		90,641		76,967		271,921		230,903
Expected return on assets		(56,453)		(134,480)		(169,360)		(403,442)
Amortization of net loss		-		165,884		-		497,652
Amortization of prior service cost		4,366		4,367		13,100		13,102
Net periodic pension cost	$	116,137	$	194,162	$	348,412	$	582,485

The plan’s annual actuarial valuation was performed as of the plan’s fiscal year end, March 31. The actuarial recommended contribution to the pension plan for the year 2014 is $1,679,091, which contribution was made in August 2014.