Note 4 - Periodic Pension Expense

3 Months Ended

Mar. 31, 2013

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:

	2013			2012
Service cost - benefits earned during the period	$	149,000		$	149,000
Interest cost on projected benefit obligation		260,000			256,000
Expected return on plan assets		(333,000	)		(318,000	)
Amortization of prior service cost		3,000			4,000
Recognized actuarial loss		287,000			240,000
Net periodic pension cost	$	366,000		$	331,000

There were no contributions made to the Company’s benefit plans during the periods ended March 31, 2013 or 2012.