Retirement Benefit Plans

Retirement benefit plan liabilities consisted of the following:



	November 1, 2014		February 1, 2014		November 2, 2013
	(In thousands)
Supplemental Executive Retirement Plan (“SERP”)	$	7,511	$	10,551	$	10,434
Other retirement plan liabilities	4,140		4,050		3,738
Total	$	11,651	$	14,601	$	14,172
Less amount classified in accrued expenses related to SERP	5,810		—		—
Less amount classified in accrued expenses related to other retirement plan liabilities	—		262		—
Long-term retirement benefit plan liabilities	$	5,841	$	14,339	$	14,172

401(k) Plan

We maintain a qualified, defined contribution retirement plan with a 401(k) salary deferral feature that covers substantially all of our employees who meet certain requirements. Under the terms of the plan, employees may contribute, subject to statutory limitations, up to 100% of gross earnings and historically, including fiscal 2013, we have provided a matching contribution of 50% of the first 5% of gross earnings contributed by the participants. We also have the option to make additional contributions or to suspend the employer contribution at any time. The employer's matching contributions vest over a five-year service period with 20% vesting after two years and 50% vesting after year three. Vesting increases thereafter at a rate of 25% per year so that participants will be fully vested after five years of service. We also have separate defined contribution plans for eligible employees in both Canada and Puerto Rico who meet certain requirements. We have suspended the Company's matching contribution under the plan in the U.S. and Canada for fiscal 2014. Contribution expense for all plans was not material to the unaudited condensed consolidated financial statements for any period presented.

Supplemental Executive Retirement Plan

We maintain a Supplemental Executive Retirement Plan, or SERP, which is a non-qualified defined benefit plan for certain executives. The plan is non-contributory and not funded and provides benefits based on years of service and compensation during employment. Participants are fully vested upon entrance in the plan. Pension expense is determined using the projected unit credit cost method to estimate the total benefits ultimately payable to officers and this cost is allocated to service periods. The actuarial assumptions used to calculate pension costs are reviewed annually.

The components of net periodic pension benefit cost are as follows:



	13 weeks ended				39 weeks ended
	November 1, 2014		November 2, 2013		November 1, 2014		November 2, 2013
	(In thousands)
Service cost	$	55	$	131	$	314	$	397
Interest cost	76		108		279		328
Amortization of prior experience cost	18		18		55		56
Amortization of net loss	6		69		68		241
Net periodic pension benefit cost	$	155	$	326	$	716	$	1,022

We expect to make a payment to Thomas P. Johnson, our former Chief Executive Officer, from our Supplemental Executive Retirement Plan (“SERP”) of approximately $5.8 million, subject to interest rate fluctuations, during the first quarter of 2015. Accordingly, the SERP liability related to Mr. Johnson has been classified as a current liability in our unaudited condensed consolidated balance sheet as of November 1, 2014. Such amount will be paid from our cash flows from operations. At the date of payment to Mr. Johnson, we will record a benefit estimated to be approximately $0.9 million in selling, general and administrative expenses, with a corresponding amount recorded to relieve accumulated other comprehensive loss included in our stockholders' equity. This accounting treatment is in accordance with settlement accounting procedures under the provisions of ASC Topic 715, "Compensation - Retirement Benefits".

During September 2013, we made a payment of approximately $2.2 million to our former President from our SERP. Such amount was paid from our cash flows from operations. In connection with this payment, during the third quarter of 2013, we recorded a charge of $0.6 million of the net actuarial loss (the "settlement loss") as a charge in SG&A, with a corresponding amount recorded to relieve accumulated other comprehensive loss included in our stockholders' equity ($0.4 million, net of tax).

Other Retirement Plan Liabilities

We have a long-term incentive deferred compensation plan established for the purpose of providing long-term incentives to a select group of management. The plan is a non-qualified, non-contributory defined contribution plan and is not funded. Participants in this plan include all employees designated by us as Vice President, or other higher-ranking positions that are not participants in the SERP. We record annual monetary credits to each participant's account based on compensation levels and years as a participant in the plan. Annual interest credits are applied to the balance of each participant's account based upon established benchmarks. Each annual credit is subject to a three-year cliff-vesting schedule, and participants' accounts will be fully vested upon retirement after completing five years of service and attaining age 55. The liability related to this plan was $4.0 million as of November 1, 2014, $3.9 million as of February 1, 2014 and $3.6 million as of November 2, 2013. Compensation expense related to this plan was not material to our unaudited condensed consolidated financial statements for any period presented.

We maintain a postretirement benefit plan for certain executives that provides retiree medical and dental benefits. The plan is an other post-employment benefit plan, or OPEB, and is not funded. Pension expense and the liability related to this plan were not material to our unaudited condensed consolidated financial statements for any period presented.