Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans (Tables)

v2.4.0.6
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2012
Employee Benefit Plans [Abstract]  
Summary Of The Balance Sheet Impact, Including Benefit Obligations, Assets And Funded Status Of The Pension Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

2011

Change in benefit obligation:

 

 

 

 

 

 

Benefit obligation at the beginning of the year

 

$         

5,150,000 

 

$

4,919,000 

Service cost

 

 

275,000 

 

 

36,000 

Interest cost

 

 

244,000 

 

 

240,000 

Participant contributions

 

 

 

 

15,000 

Augmentations

 

 

 

 

45,000 

Actuarial (gains)/losses

 

 

325,000 

 

 

62,000 

Benefits paid

 

 

(552,000)

 

 

(162,000)

Foreign currency gains

 

 

233,000 

 

 

(5,000)

Benefit obligation at the end of the year

 

 

5,675,000 

 

 

5,150,000 

 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

 

6,056,000 

 

 

5,269,000 

Actual return on plan assets

 

 

(289,000)

 

 

892,000 

Employer contributions

 

 

58,000 

 

 

48,000 

Participant contributions

 

 

 

 

15,000 

Benefits paid

 

 

(552,000)

 

 

(162,000)

Foreign currency losses

 

 

274,000 

 

 

(6,000)

Fair value of plan assets at end of year

 

 

5,547,000 

 

 

6,056,000 

 

 

 

 

 

 

 

Funded status at end of year – net asset /(liability)

 

$

(128,000)

 

$

906,000 

 

Weighted Average Assumptions Used To Determine Net Periodic Pension Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount rate

 

 

4.3% 

 

 

4.7% 

Expected return on assets

 

 

5.1% 

 

 

4.2% 

 

Summary Of Estimated Future Pension Benefit Payments

 

 

 

 

 

 

2013

$

462,000 

2014

 

494,000 

2015

 

262,000 

2016

 

234,000 

2017

 

489,000 

2018 thru 2022

 

1,998,000 

 

Summary Of Components Of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

 

2011

 

 

2010

Service cost

 

$

275,000 

 

$

36,000 

 

$

46,000 

Interest cost

 

 

244,000 

 

 

240,000 

 

 

258,000 

Expected return on assets

 

 

(262,000)

 

 

(267,000)

 

 

(244,000)

Amortization of prior service cost

 

 

 -

 

 

46,000 

 

 

 

Net periodic pension cost

 

$

257,000 

 

$

55,000 

 

$

60,000