Note 3 – PENSION PLAN

A summary of the components of net periodic pension cost is as follows:



	Three Months Ended September 30				Nine Months Ended September 30
	2013		2012		2013		2012
Service cost	$	81,424	$	76,699	$	244,270	$	230,099
Interest cost		76,967		80,549		230,903		241,648
Expected return on assets		(134,480)		(112,117)		(403,442)		(336,352)
Amortization of net loss		165,884		123,098		497,652		369,293
Amortization of prior service cost		4,367		4,367		13,102		13,102
Net periodic pension cost	$	194,162	$	172,596	$	582,485	$	517,790

The plan’s annual actuarial valuation was performed as of the plan’s fiscal year-end March 31. The actuarial recommended contribution to the pension plan for the year 2013 was $1,315,301, which contribution was made in August 2013.