Note 4 - Periodic Pension Expense

3 Months Ended

Mar. 31, 2012

Notes To Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

NOTE 4 – Periodic Pension Expense:

The following table presents the net periodic pension expense under our plans for the three month periods ended March 31:

	2012			2011
Service cost - benefits earned during the period	$	149,000		$	139,000
Interest cost on projected benefit obligation		256,000			273,000
Expected return on plan assets		(318,000	)		(337,000	)
Amortization of prior service cost		4,000			7,000
Recognized actuarial loss		240,000			120,000
Net periodic pension cost	$	331,000		$	202,000

There were no contributions made to the Company’s benefit plans during the periods ended March 31, 2012 or 2011.