Benefit Plans

3 Months Ended

May 04, 2013

Benefit Plans

Benefit Plans

Note 7. Benefit Plans

The Company has an unfunded, nonqualified defined benefit plan (“Pension Plan”) for its officers.  The Pension Plan is noncontributory and provides benefits based on years of service and compensation during employment.  Pension expense is determined using various actuarial cost methods to estimate the total benefits ultimately payable to officers and allocates this cost to service periods.  The actuarial assumptions used to calculate pension costs are reviewed annually.  The Company made contributions to the Pension Plan of $0.7 million during the quarter ended May 4, 2013.  The Company expects to make contributions to the Pension Plan of approximately $2.0 million for the remainder of fiscal 2013.

The components of net periodic benefit costs are as follows (in thousands):

	Three Months Ended
	May 4, 2013			April 28, 2012
Components of net periodic benefit costs:
Service cost	$	1,059		$	817
Interest cost	1,696			1,823
Net actuarial loss	753			1,283
Amortization of prior service cost	24			157
Plan curtailment gain	(1,480		)	—
Net periodic benefit costs	$	2,052		$	4,080

Net periodic benefit costs are included in selling, general and administrative expenses.