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EMPLOYEE BENEFIT PLAN
 3 Months Ended
Mar. 31, 2013
EMPLOYEE BENEFIT PLAN  
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)
  
2013
    
2012
  
             
Service cost
   $ -     $ -  
Interest cost
     435       467  
Expected return on plan assets
     (510 )     (462 )
Amortization of net losses
     196       167  
Net periodic benefit cost
   $ 121     $ 172  
 
Subsequent to March 31, 2013, the Company contributed approximately $0.8 million to this plan.
 
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 $11,717,000 as of March 31, 2013 and $11,103,000 as of December 31, 2012. The SERP assets are reported in non-current 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 (losses) related to the SERP assets totaled approximately as follows:
 
 
Three months ended
March 31,
  
(in thousands)
2013
    
2012
  
             
Gains (losses), net
   $ 614     $ 650  
 
The SERP deferrals and the distributions are recorded in pension liabilities with any change in the fair value  recorded as compensation cost.