DEFINED BENEFIT PENSION EXPENSE

3 Months Ended

Dec. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

NOTE 12 – DEFINED BENEFIT PENSION EXPENSE

Defined benefit pension expense was as follows:

	Three Months Ended December 31,
	2013			2012
Service cost	$	45		$	50
Interest cost		2,500			2,425
Expected return on plan assets		(2,885	)		(3,138	)
Amortization:
Prior service cost		4			5
Recognized actuarial loss		489			840
Loss on pension settlement		—			2,142
Net periodic expense	$	153		$	2,324

First quarter of 2013, Selling, general and administrative expenses included a $2,142, non-cash, pension settlement loss resulting from the lump-sum buyout of certain participant’s balances in the Company’s defined benefit plan. The buyouts, funded by the pension plan, reduced the Company’s net pension liability by $3,472 and increased Accumulated Other Comprehensive Income (Loss) by $3,649.