Note 6 - Pension and Post-retirement Benefits

9 Months Ended

Mar. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Note 6:  Pension and Post-retirement Benefits

Net periodic benefit costs for the Company's defined benefit pension plans consist of the following (in thousands):

	Three Months Ended						Nine Months Ended
	3/31/2014			3/31/2013			3/31/2014			3/31/2013
Service cost	$	716		$	734		$	2,139		$	2,210
Interest cost		1,746			1,477			5,197			4,464
Expected return on plan assets		(1,589	)		(1,490	)		(4,732	)		(4,497	)
Amortization of prior service cost		29			59			87			176
Amortization of net gain		2			-			8			-
	$	904		$	780		$	2,699		$	2,353

Net periodic benefit costs for the Company's postretirement medical plan and life insurance consists of the following (in thousands):

	Three Months Ended						Nine Months Ended
	3/31/2014			3/31/2013			3/31/2014			3/31/2013
Service cost	$	25		$	127		$	202		$	383
Interest cost		66			136			331			409
Amortization of prior service credit		(260	)		(185	)		(511	)		(557	)
Amortization of accumulated loss		(1	)		40			(1	)		119
	$	(170	)	$	118		$	21		$	354

The Company’s pension plans use fair value as the market-related value of plan assets and recognize net actuarial gains or losses in excess of ten percent (10%) of the greater of the market-related value of plan assets or of the plans’ projected benefit obligation in net periodic (benefit) cost as of the plan measurement date, which is the same as the fiscal year end of the Company. Net actuarial gains or losses that are less than 10% of the thresholds noted above are accounted for as part of the accumulated other comprehensive income (loss).

Effective December 31, 2013, the Company terminated eligibility for employees ages 55 -64 years old in the Postretirement Medical Plan.