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EMPLOYEE BENEFIT PLAN
 3 Months Ended
Mar. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE BENEFIT PLAN
8. EMPLOYEE BENEFIT PLAN
 
The following represents the net periodic benefit cost and related components of the Company’s multiple employer Retirement Income Plan:
 
Three months ended
March 31,
  
(in thousands)
  
2012
    
2011
  
Interest cost
 $ 467 $ 479
Expected return on plan assets
 (462 ) (458 )
Amortization of net losses
     167       116  
Net periodic benefit cost
   $ 172     $ 137  
 
The Company contributed $3,510,000 to the plan during the three months ended March 31, 2012.
 
The Company permits selected highly compensated employees to defer a portion of their compensation into the non-qualified Supplemental Retirement Plan (“SERP”). The SERP assets are marked to market and totaled $8,901,000 as of March 31, 2012 and $8,251,000 as of December 31, 2011. The SERP assets are reported in other assets on the consolidated balance sheet and changes related to the fair value of these assets are recorded in the consolidated statement of operations as part of other (expense) income, net. Trading gains related to the SERP assets totaled approximately $650,000 for the three months ended March 31, 2012 and approximately $236,000 for the three months ended March 31, 2011. The SERP deferrals and the contributions are recorded in pension liabilities with any change in the fair value recorded as compensation cost.