PENSION AND OTHER POSTRETIREMENT BENEFITS

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, 2014 and 2013:



	Pension Benefits				Other Benefits
	2014		2013		2014			2013
Service cost	$	215,000	$	217,529	$	187,500		$	204,959
Interest cost	496,500		484,356		366,972			422,470
Less: Expected return on plan assets	713,500		587,363		—			—
Amortization of prior service cost	25,250		24,932		(600,000		)	(13,332		)
Recognized net actuarial loss	204,250		333,408		163,750			—
Unrecognized net loss	—		—		—			173,771
Net periodic expense	$	227,500	$	472,862	$	118,222		$	787,868

As previously disclosed in our financial statements for the year ended December 31, 2013, Monarch expects to contribute approximately $2,790,000 to the pension fund in 2014. As of March 31, 2014, 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, 2013, Monarch expects expenditures of approximately $1,625,000 for this plan in 2014. As of March 31, 2014, we have contributed approximately $325,000 and anticipate contributing an additional $1,300,000 to this plan in 2014 for a total of $1,625,000.