8.Retirement Plans

Effective December 31, 2008, we froze both of our noncontributory defined benefit plans: our pension plan (the “pension plan”) and our unfunded, nonqualified plan (the “restoration plan”), which restores retirement benefits for certain associates who are affected by Internal Revenue Code limitations on benefits provided under the pension plan. No additional benefits have accrued under these plans since that date. In connection with benefits earned prior to December 31, 2008, we have a continuing obligation to fund the pension plan and will continue to recognize net periodic pension expense for both plans. We use a fiscal year end measurement date for both the pension plan and the restoration plan.

Components of Net Pension Expense


		Three Months Ended November 30
(In thousands)		Pension Plan				Restoration Plan				Total
		2013		2012		2013		2012		2013		2012
Interest cost	$	1,896	$	1,825	$	128	$	115	$	2,024	$	1,940
Expected return on plan assets		(1,979)		(1,898)		―		―		(1,979)		(1,898)
Recognized actuarial loss		418		300		―		―		418		300
Net pension expense	$	335	$	227	$	128	$	115	$	463	$	342


		Nine Months Ended November 30
(In thousands)		Pension Plan				Restoration Plan				Total
		2013		2012		2013		2012		2013		2012
Interest cost	$	5,687	$	5,475	$	325	$	345	$	6,012	$	5,820
Expected return on plan assets		(5,937)		(5,694)		―		―		(5,937)		(5,694)
Recognized actuarial loss		1,255		900		―		―		1,255		900
Net pension expense	$	1,005	$	681	$	325	$	345	$	1,330	$	1,026

We made no contributions to the pension plan during the nine months ended November 30, 2013, and anticipate making no contributions during the remainder of fiscal 2014. The expected long-term rate of return on plan assets for the pension plan was 7.75% as of February 28, 2013.