NOTE H – Pension Plans

We have a defined benefit pension plan covering substantially all employees hired on or before December 31, 2005. The pension plan was closed to any employee hired after that date. The benefits are based on years of service and the employee's final average compensation. Effective January 1, 2007, no new benefits are earned under this plan for additional years of service after December 31, 2006.

We also have a non-qualified, non-contributory supplemental executive retirement plan (SERP) for employees whose retirement benefits are reduced due to their annual compensation levels. The SERP limits the total amount of annual retirement benefits that may be paid to a participant in the SERP from all sources (Retirement Plan, Social Security and the SERP) to $125,000. The SERP is not funded so we pay benefits directly to participants.

Net pension costs included the following components (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012

Service cost-benefits earned during period	$	46		$	11		$	100		$	73
Interest cost on projected benefit obligations		899			940			2,653			2,826
Expected return on plan assets		(1,225	)		(1,119	)		(3,711	)		(3,355	)
Amortization of prior service costs		53			53			157			157
Amortization of actuarial loss		417			425			1,273			1,405

Net pension costs	$	190		$	310		$	472		$	1,106