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SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN | 3 Months Ended
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Mar. 31, 2014
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] |
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN |
11. | SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN:
On March 18, 2010, the Compensation Committee and the Board of Directors of the Company approved and adopted the Universal Display Corporation Supplemental Executive Retirement Plan (SERP), effective as of April 1, 2010. The purpose of the SERP, which is unfunded, is to provide certain of the Company’s executive officers with supplemental pension benefits following a cessation of their employment. As of March 31, 2014 there were six participants in the SERP. The Company records amounts relating to the SERP based on calculations that incorporate various actuarial and other assumptions, including discount rates, rate of compensation increases, retirement dates and life expectancies. The net periodic costs are recognized as employees render the services necessary to earn the SERP benefits. The components of net periodic pension cost were as follows (in thousands):
|  | Three Months Ended March 31,
|  | 2014 |  | 2013
Service cost |  | $ | 167 |  |  | $ | 162 |
Interest cost |  | 106 |  |  | 86 |
Amortization of prior service cost |  | 146 |  |  | 146 |
Amortization of loss |  | — |  |  | 23 |
Total net periodic benefit cost |  | $ | 419 |  |  | $ | 417 |

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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