EMPLOYEE RETIREMENT BENEFIT PLANS

6 Months Ended

Jun. 29, 2012

EMPLOYEE RETIREMENT BENEFIT PLANS

4. EMPLOYEE RETIREMENT BENEFIT PLANS

Components of Net Periodic Benefit Expense

	Pension Plan						Supplemental Executive Retirement Plan
For the three months ended:	June 29, 2012			July 1, 2011			June 29, 2012			July 1, 2011
Service cost	$	-		$	-		$	-		$	-
Interest cost		467			527			52			64
Expected return on assets		(454	)		(501	)		-			-
Amortization of actuarial loss		170			108			14			9
Amortization of prior year service cost		-			-			(12	)		(12	)
Settlement charge		317			325			-			-
Net periodic benefit expense	$	500		$	459		$	54		$	61

	Pension Plan						Supplemental Executive Retirement Plan
For the six months ended:	June 29, 2012			July 1, 2011			June 29, 2012			July 1, 2011
Service cost	$	-		$	-		$	-		$	-
Interest cost		933			1,055			103			128
Expected return on assets		(907	)		(1,002	)		-			-
Amortization of actuarial loss		341			216			29			18
Amortization of prior year service cost		-			-			(24	)		(24	)
Settlement charge		634			554			-			-
Net periodic benefit expense	$	1,001		$	823		$	108		$	122

Employer Contributions

In the first six months of 2012, the Company paid $727 to the pension trust and payments totaling $1,305 are scheduled for the remainder of 2012 with an additional payment of $412 expected in early 2013.

The Company is not currently required to fund the Supplemental Executive Retirement Plan (SERP). All benefit payments are made by the Company directly to those who receive benefits from the SERP. As such, these payments are treated as both contributions and benefits paid for reporting purposes. The Company expects to contribute and pay SERP benefits of approximately $531 in the next 12 months.