CONTRACTUAL PENSION AND POSTRETIREMENT BENEFITS

9 Months Ended

Sep. 30, 2011

Contractual Pension and Postretirement Benefits [Abstract]

Contractual Pension and Postretirement Benefits Excluding Defined Benefit Plan Disclosure [Text Block]

13.    CONTRACTUAL PENSION AND POSTRETIREMENT BENEFITS

The following table sets forth the components of net periodic benefit costs for contractual pension benefits prior to the adoption of the liquidation basis of accounting:

	Three Months Ended			Nine Months Ended
	September 30,			September 30,
	2010			2010
Service cost	$	-		$	-
Interest cost		7,531			22,595
Amortization of prior service cost		-			-
Recognized actuarial (gain) loss		(11,831	)		(35,493	)
Net periodic benefit cost (income)	$	(4,300	)	$	(12,898	)

The following table sets forth the components of net periodic benefit costs for contractual postretirement benefits prior to the adoption of the liquidation basis of accounting:

	Three Months Ended			Nine Months Ended
	September 30,			September 30,
	2010			2010
Service cost	$	444		$	1,333
Interest cost		5,471			16,412
Amortization of prior service cost		926			2,777
Recognized
actuarial (gain) loss		(9,533	)		(28,600	)
Net periodic benefit cost (income)	$	(2,692	)	$	(8,078	)

During the nine months ended September 30, 2010, the Company made contributions of $11,576 for postretirement benefits.

As a result of employee contractual amendments in 2010, and the adoption of the Plan of Liquidation in 2011, three officers of the Company will no longer receive benefits from the contractual pension and postretirement benefits plans. As a result of the adoption of the liquidation basis of accounting, benefits payable under the postretirement benefit plan were $84,681 at March 31, 2011 and $75,000 at September 30, 2011.