Periodic Pension Expense

6 Months Ended

Jun. 30, 2011

Periodic Pension Expense

Periodic Pension Expense

NOTE 4 – Periodic Pension Expense:

The following table presents the net periodic pension expense under our plans for the following periods:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Service cost - benefits earned during the period	$	141,000		$	158,000		$	280,000		$	316,000
Interest cost on projected benefit obligation		273,000			256,000			546,000			513,000
Expected return on plan assets		(337,000	)		(252,000	)		(674,000	)		(504,000	)
Amortization of prior service cost		6,000			8,000			13,000			15,000
Recognized actuarial loss		119,000			108,000			239,000			216,000
Net periodic pension cost	$	202,000		$	278,000		$	404,000		$	556,000

No contributions were made to the Company's benefit plans during the six months ended June 30, 2011. A contribution of $1,000,000 was made to the Company's benefit plans during the six months ended June 30, 2010.