Retirement Plans

6 Months Ended

Jun. 30, 2012

Compensation and Retirement Disclosure [Abstract]

Retirement Plans

Retirement Plans

The Company and certain of its subsidiaries have pension and profit sharing plans covering substantially all of their employees. The Company’s frozen defined benefit pension plan ("The Pension Agreement between Akro-Mils and United Steelworkers of America Local No. 1761-02") provides benefits primarily based upon a fixed amount for each year of service as defined.

Net periodic pension cost for the three and six months ended June 30, 2012 and 2011, respectively, are as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Service cost	$	18		$	18		$	35		$	36
Interest cost	72			76			144			152
Expected return on assets	(77		)	(77		)	(153		)	(154		)
Amortization of actuarial net loss	25			16			50			32
Net periodic pension cost	$	38		$	33		$	76		$	66
Company contributions	$	123		$	76		$	199		$	152

The Company anticipates contributions totaling $661 to its pension plan in 2012.

Effective January 1, 2012, the Company changed its profit sharing and 401(k) plan which includes an increase in the Company's matching contributions and the frequency of the Company's match. The Myers Industries Profit Sharing and 401(k) Plan is maintained for the Company's U.S. based employees, not covered under defined benefit plans, who have met eligibility service requirements.