Defined Benefit Plan

3 Months Ended

Mar. 31, 2012

Defined Benefit Plan [Abstract]

Defined Benefit Plan

Note 9 – Defined Benefit Plan

Maxwell SA, a subsidiary of the Company, has a retirement plan that is classified as a defined benefit pension plan. The pension benefit is based on compensation, length of service and credited investment earnings. The plan guarantees both a minimum rate of return as well as minimum annuity purchase rates. The Company's funding policy with respect to the pension plan is to contribute the amount required by Swiss law, using the required percentage applied to the employee's compensation. In addition, participating employees are required to contribute to the pension plan. This plan has a measurement date of December 31.

Components of net periodic pension income are as follows (in thousands):

	Three Months Ended March 31,
	2012			2011
Service cost	$	171		$	186
Interest cost		166			168
Expected return on plan assets		(357	)		(380	)
Prior service cost amortization		—			—
Net periodic pension income	$	(20	)	$	(26	)

Employer contributions of $189,000 and $185,000 were paid during the three months ended March 31, 2012 and 2011, respectively. Additional employer contributions of approximately $492,000 are expected to be paid during the remainder of fiscal 2012.