Employee Retirement Benefit Plans

9 Months Ended

Sep. 28, 2012

Employee Retirement Benefit Plans:

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:	September 28, 2012		September 30, 2011	September 28, 2012	September 30, 2011
Service cost	$             -	$            -		$             -	$            -
Interest cost	467	527		52	64
Expected return on assets	(454)	(501)		-	-
Amortization of actuarial loss	171	109		14	9
Amortization of prior year service cost	-	-		(12)	(12)
Settlement charge	352	345		-	-
Net periodic benefit expense	$         536	$       480		$           54	$          61

	Pension Plan			Supplemental Executive Retirement Plan
For the nine months ended:	September 28, 2012		September 30, 2011	September 28, 2012	September 30, 2011
Service cost	$             -	$            -		$             -	$            -
Interest cost	1,402	1,582		155	193
Expected return on assets	(1,361)	(1,502)		-	-
Amortization of actuarial loss	511	322		42	27
Amortization of prior year service cost	-	-		(36)	(36)
Settlement charge	986	900		-	-
Net periodic benefit expense	$      1,538	$     1,302		$         161	$         184

Employer Contributions

In the first nine months of 2012, the Company paid $1,484 to the pension trust. An additional amount of $345 is due in 2012. Preliminary estimates under current regulations indicate payments totaling $1,741 will become due through the end of 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 $519 in the next 12 months.