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Retirement Agreements And Other Postretirement Benefits
 6 Months Ended
Jun. 30, 2011
Retirement Agreements And Other Postretirement Benefits  
Retirement Agreements And Other Postretirement Benefits
Note 5 – Retirement Agreements and Other Postretirement Benefits

On November 17, 2003, the Company's subsidiary, Investors Title Insurance Company, entered into employment agreements with key executives that provide for the continuation of certain employee benefits and other payments due under the agreements upon retirement totaling $5,415,000 and $5,134,000 as of June 30, 2011 and December 31, 2010, respectively.  The executive employee benefits include health insurance, dental, vision and life insurance and are unfunded.  These amounts are classified as accounts payable and accrued liabilities in the consolidated balance sheets.  The following sets forth the net periodic benefits cost for the executive benefits for the periods ended June 30, 2011 and 2010:

   
For the Three
Months Ended
June 30,
    
For the Six
Months Ended
June 30,
  
   
2011
    
2010
    
2011
    
2010
  
                         
Service cost – benefits earned during the year
   $ 6,425     $ 6,425     $ 12,849     $ 12,849  
Interest cost on the projected benefit obligation
     7,689       7,689       15,378       15,378  
Amortization of unrecognized prior service cost
     5,097       5,097       10,194       10,194  
Amortization of unrecognized gains
     643       641       1,286       1,284  
Net periodic benefits costs
   $ 19,854     $ 19,852     $ 39,707     $ 39,705