Retirement Plans

9 Months Ended

Sep. 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 of the date the plan was frozen.

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Service cost	$	18		$	18		$	53		$	54
Interest cost	72			76			216			228
Expected return on assets	(77		)	(77		)	(230		)	(231		)
Amortization of actuarial net loss	25			16			75			48
Net periodic pension cost	$	38		$	33		$	114		$	99
Company contributions	$	339		$	116		$	538		$	268

The Company anticipates contributions totaling $661 thousand to its pension plan for the full year of 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.