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 six months ended June 30, 2014 and 2013:



	Pension Benefits				Other Benefits
	2014		2013		2014			2013
Service cost	$	428,921	$	435,058	$	247,775		$	390,113
Interest cost	990,171		968,712		566,116			804,117
Less: Expected return on plan assets	1,431,876		1,174,726		—			—
Amortization of prior service cost	50,060		49,864		(1,198,831		)	(25,376		)
Recognized net actuarial loss	407,799		666,817		264,022			330,749
Net periodic (benefit) expense	$	445,075	$	945,725	$	(120,918	)	$	1,499,603



	Pension Benefits				Other Benefits
	2014		2013		2014			2013
Service cost	$	213,921	$	217,529	$	60,275		$	185,154
Interest cost	493,671		484,356		199,144			381,647
Less: Expected return on plan assets	718,376		587,363		—			—
Amortization of prior service cost	24,810		24,932		(598,831		)	(12,044		)
Recognized net actuarial loss	203,549		333,409		100,272			156,978
Net periodic (benefit) expense	$	217,575	$	472,863	$	(239,140	)	$	711,735

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 June 30, 2014, we have contributed approximately $633,000 to the fund and anticipate contributing approximately an additional $2,157,000 to this plan in 2014 for a total of $2,790,000.

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 June 30, 2014, we have contributed approximately $630,000 and anticipate contributing an additional $995,000 to this plan in 2014 for a total of $1,625,000.