XML 23 R15.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Employee Benefit Plans
 6 Months Ended
Jul. 02, 2011
Employee Benefit Plans [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
EMPLOYEE BENEFIT PLANS


The Company sponsors two 401(k) defined contribution plans covering substantially all associates.  The Company generally matches participants' contributions, on a sliding scale, up to a maximum of 5% of the participant's earnings.  The Company did not match participants' contributions for one of the two 401(k) plans for the 2010 plan year and has no current plan to match contributions for the same plan for the 2011 plan year. In addition to the discretionary match for this plan, the plan also provides for an additional Company contribution if the Company attains certain performance targets. Matching contributions for the 401(k) plan, for which the match was applicable, were $25 and $30 for the three months ended July 2, 2011 and June 26, 2010, respectively and $48 and $52 for the six months ended July 2, 2011 and June 26, 2010, respectively.


The Company sponsors a non-qualified retirement savings plan that allows eligible associates to defer a specified percentage of their compensation.  The obligations owed to participants under this plan were $11,589 at July 2, 2011 and $11,650 at December 25, 2010 and are included in other long-term liabilities in the Company's Consolidated Condensed Balance Sheets. The obligations are unsecured general obligations of the Company and the participants have no right, interest or claim in the assets of the Company, except as unsecured general creditors.  The Company utilizes a Rabbi Trust to hold, invest and reinvest deferrals and contributions under the plan.  Amounts are invested in company-owned life insurance in the Rabbi Trust and the cash surrender value of the policies was $11,864 at July 2, 2011 and $11,544 at December 25, 2010 and is included in other assets in the Company's Consolidated Condensed Balance Sheets.


The Company is a contributing employer in a multi-employer pension plan.  Expenses related to the multi-employer pension plan were $74 and $61 for the three months ended July 2, 2011 and June 26, 2010, respectively and $146 and $122 for the six months ended July 2, 2011 and June 26, 2010, respectively.


The Company sponsors a legacy postretirement benefit plan that provides life insurance to a limited number of associates as a result of a prior acquisition.  The Company also sponsors a postretirement benefit plan that provides medical insurance for a limited number of associates who retired prior to January 1, 2003 and life insurance to a limited number of associates upon retirement.


Components of net periodic benefit cost for all postretirement plans are summarized as follows:
 
Three Months Ended
 
Six Months Ended
 
July 2, 2011


 
June 26, 2010


 
July 2, 2011


 
June 26, 2010


Service cost
$
2


 
$
—


 
$
4


 
$
—


Interest cost
6


 
—


 
13


 
—


Amortization of prior service credits
(22
)
 
(22
)
 
(45
)
 
(44
)
Recognized net actuarial gains
(7
)
 
(13
)
 
(15
)
 
(26
)
Net periodic benefit credit
$
(21
)
 
$
(35
)
 
$
(43
)
 
$
(70
)


Amounts contributed or expected to be contributed by the Company during the current fiscal year to its postretirement plans are not anticipated to be significantly different from amounts disclosed in the Company's 2010 Annual Report filed on Form 10-K.