text: E M P L O Y E E R E T I R E M E N T A N D B E N E F I T P L A N S  11 
  
  A noncontributory defined benefit retirement plan is maintained for all regular employees of the Company except those of Quest Medical. This plan was 
  amended effective January 1, 1998 to become a cash balance pension plan. The Company’s funding policy is to make the annual contributions required by 
  applicable regulations and recommended by its actuary. The Company uses a December 31 measurement date for the plan. 
  
  The changes in the plan’s projected benefit obligation (“PBO”) as of December 31, 2003 and 2002 are as follows (in thousands): 
  
  2003  2002 
  
  **C H A N G E I N B E N E F I T O B L I G A T I O N :**
  
  Benefit obligation, January 1  $  4,170  $  4,599 
  
  Service cost  214  320 
  
  Interest cost  298  307 
  
  Amendments  —-  (616) 
  
  Actuarial (gain)/loss  529  (93) 
  
  Benefits paid  (333)  (347) 