Pension Plan

3 Months Ended

Mar. 31, 2011

Pension Plan [Abstract]

Pension Plan

Note 12 – Pension Plan

Park has a noncontributory defined benefit pension plan covering substantially all of its employees. The plan provides benefits based on an employee's years of service and compensation.

Park's funding policy is to contribute annually an amount that can be deducted for federal income tax purposes using a different actuarial cost method and different assumptions from those used for financial reporting purposes. Pension plan contributions were $14 million and zero for the three month periods ended March 31, 2011 and 2010, respectively.

The following table shows the components of net periodic benefit expense:

(in thousands)	Three months ended March 31,
	2011			2010
Service cost	$	1,139		$	918
Interest cost		992			896
Expected return on plan assets		(1,886	)		(1,457	)
Amortization of prior service cost		5			5
Recognized net actuarial loss		353			270
Benefit expense	$	603		$	632