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EMPLOYEE BENEFIT PLANS
 9 Months Ended
Sep. 30, 2012
Compensation and Retirement Disclosure  
EMPLOYEE BENEFIT PLANS
10.
EMPLOYEE BENEFIT PLANS
 
The Company participates in a multiple employer pension plan. The following represents the net periodic benefit cost (credit) and related components for the plan:
 
(in thousands)
  
Three months ended
September 30,
    
Nine months ended
September 30,
  
 
2012
    
2011
    
2012
    
2011
  
Interest cost
 $ 63 $ 67 $ 190 $ 200
Expected return on plan assets
 (82 ) (81 ) (247 ) (243 )
Amortization of net losses
     15       10       46       29  
Net periodic benefit
   $ (4 )   $ (4 )   $ (11 )   $ (14 )
 
During the first nine months of 2012, the Company made a contribution of $684,000 to this plan.
 
The Company permits selected highly compensated employees to defer a portion of their compensation into a non-qualified Supplemental Executive Retirement Plan (“SERP”). The Company maintains certain securities in the SERP that have been classified as trading. The SERP assets are marked to market and totaled $5,990,000 as of September 30, 2012 and $6,510,000 as of December 31, 2011. The SERP assets are reported in other assets on the consolidated balance sheets and changes related to the fair value of the assets are included in selling, general and administrative expenses in the consolidated statements of operations.
 
Trading results related to the SERP assets totaled approximately the following:
 
(in thousands)
  
Three months ended September 30,
    
Nine months ended September 30,
  
   
2012
    
2011
        
2012
    
2011
  
Gains (losses), net
   $ 92     $ (174 )   $ 145     $ (166)