Pension and Postretirement Benefits

3 Months Ended

Mar. 31, 2014

General Discussion Of Pension And Other Postretirement Benefits [Abstract]

Pension And Other Postretirement Benefits Disclosure [Text Block]

Note 5 – Pension and Other Postretirement Benefits

The components of net periodic benefit cost for the three months ended March 31, 2014 and March 31, 2013 are as follows:

	Three Months Ended March 31,
					Other
					Postretirement
	Pension Benefits				Benefits
		2014		2013		2014		2013
Service cost	$	734	$	838	$	8	$	13
Interest cost and other		1,542		1,380		54		56
Expected return on plan assets		(1,607)		(1,478)		0		0
Actuarial loss amortization		789		981		6		47
Prior service cost amortization		866		28		0		0
Net periodic benefit cost	$	2,324	$	1,749	$	68	$	116

During 2013, it was discovered that the Company's subsidiary in the United Kingdom did not appropriately amend a trust for a legacy change in its pension scheme, as it related to a past retirement age equalization law. Given the lack of an official deed to the pension trust, the effective date of the change to the Subsidiary's pension scheme differed from the Company's historical beliefs, but the extent of the potential exposure was not estimable. In the first quarter of 2014, the Company recordedcosts of $902, related to prior service cost and interest cost,to appropriatelyreflect thepast plan amendment related to the retirement age equalization law.

Employer Contributions:

The Company previously disclosed in its financial statements for the year ended December 31, 2013, that it expected to make minimum cash contributions of $6,172 to its pension plans and $607 to its other postretirement benefit plan in 2014. As of March 31, 2014, $3,854 and $211 of contributions have been made to the Company's pension plans and its postretirement benefit plans, respectively.