Pension And Postretirement Benefit Costs

3 Months Ended

Mar. 31, 2013

Pension And Postretirement Benefit Costs [Abstract]

Pension And Postretirement Benefit Costs

9.   The following table presents the components of net periodic pension and postretirement benefit costs allocated to Cost of Sales and Selling, General and Administrative expenses for the three months ended March 31, 2013 and 2012:

	Pension Benefits				Other Benefits
	2013		2012		2013		2012
Service cost	$	217,529	$	199,786	$	204,959	$	166,332
Interest cost		484,356		494,194		422,470		412,440
Less: Expected return on plan assets		587,363		520,367		0		0
Amortization of prior service cost		24,932		27,195		(13,332)		(12,168)
Recognized net actuarial loss		333,408		308,692		0		0
Unrecognized net loss		0		0		173,771		184,681
Net periodic expense	$	472,862	$	509,500	$	787,868	$	751,285

As previously disclosed in our financial statements for the year ended December 31, 2012, Monarch expects to contribute approximately $2,470,000 to the pension fund in 2013. As of March 31, 2013, we have not made any contributions to the fund.

The other benefits consist of postretirement benefits that are self-insured by Monarch and are paid out of Monarch's general assets. As previously disclosed in our financial statements for the year ended December 31, 2012, Monarch expects expenditures of approximately $1,630,000 for this plan in 2013. As of March 31, 2013, we have contributed approximately $280,000 and anticipate contributing an additional $1,350,000 to this plan in 2013 for a total of $1,630,000.