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Pension Plan
3 Months Ended
Mar. 31, 2012
Pension Plan [Abstract]  
Pension Plan

Note 3 – PENSION PLAN

 

A summary of the components of net periodic pension cost for the three months ended March 31 is as follows:

 

    2012     2011  
Service cost   $ 76,700     $ 69,912  
Interest cost     80,549       79,965  
Expected return on assets     –112,117       –108,398  
Amortization of net loss     123,098       76,587  
Amortization of prior service cost     4,367       4,367  
Net periodic pension cost   $ 172,597     $ 122,433  

 

The Trust had previously disclosed in its Annual Report as of December 31, 2011, that the next contribution to the plan for 2012 is estimated to approximate $570,000, subject to the plan's annual actuarial valuation performed as of the plan's fiscal year-end, March 31. No additional updated information is available at this time.