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Note 11 - Retirement Fund and Profit Sharing Plan
 3 Months Ended
Mar. 31, 2020
Notes to Financial Statements  
Retirement Benefits [Text Block]
11.
RETIREMENT FUND AND PROFIT SHARING PLAN
 
The Company maintains the Bel Fuse Inc. Employees’ Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections
401
(a) and (k) of the Internal Revenue Code of
1986,
as amended (the “Code”). The expense for the
three
months ended
March 31, 2020
and
2019
amounted to
$
0.3
million in both periods. The Company’s matching contribution is made in the form of Bel Fuse Inc. Class A common stock. As of
March 31, 2020
, the plan owned
194,235
and
111,879
shares of Bel Fuse Inc. Class A and Class B common stock, respectively.
 
The Company's subsidiaries in Asia have a retirement fund covering substantially all of their Hong Kong based full-time employees.  The expense for the
three
months ended
March 31, 2020
and
2019
amounted to
$
0.1
million in both periods. As of
March 31, 2020
, the plan owned
3,323
and
17,342
shares of Bel Fuse Inc. Class A and Class B common stock, respectively.
 
The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits.  As discussed in Note
4
 above, the Company has investments in a rabbi trust which are intended to fund the obligations of the SERP.
 
The components of SERP expense are as follows:
 
   
Three Months Ended
  
   
March 31,
  
   
2020
    
2019
  
Service cost
   $
150
     $
144
  
Interest cost
    
159
      
185
  
Net amortization
    
86
      
48
  
Net periodic benefit cost
   $
395
     $
377
  
 
The service cost component of net benefit cost is presented within cost of sales or selling, general and administrative expense on the accompanying condensed consolidated statements of operations, in accordance with where compensation cost for the related associate is reported.  All other components of net benefit cost, including interest cost and net amortization noted above, are presented within other income/expense, net in the accompanying condensed consolidated statements of operations.
 
The following amounts are recognized net of tax in accumulated other comprehensive loss:
 
   
March 31,
    
December 31,
  
   
2020
    
2019
  
Prior service cost
   $
700
     $
738
  
Net loss
    
1,918
      
1,965
  
    $
2,618
     $
2,703