Employee Benefit Plans

6 Months Ended

Aug. 27, 2011

Employee Benefit Plans

Employee Benefit Plans

10. Employee Benefit Plans

Components of net periodic benefit cost for the Company's Officers' Supplemental Executive Retirement Plan (SERP) and Tubelite, Inc. Hourly Employees' Pension Plan (Tubelite Plan) for the three and six-month periods ended August 27, 2011 and August 28, 2010, were as follows:

	Three months ended						Six months ended
(In thousands)	Aug. 27, 2011			Aug. 28, 2010			Aug. 27, 2011			Aug. 28, 2010
Interest cost	$	164		$	166		$	328		$	332
Expected return on assets		(54	)		(56	)		(108	)		(112	)
Amortization of unrecognized net loss		30			30			60			60
Net periodic benefit cost	$	140		$	140		$	280		$	280

The Company maintains a deferred compensation plan that allows participants to defer compensation and assist in saving for retirement and other short-term needs. The deferred compensation liability was $2.4 million at August 27, 2011 and is included in other long-term liabilities in the consolidated balance sheet. The deferred compensation plan has historically been unfunded. In the first quarter of fiscal 2012, the Company invested in corporate-owned life insurance policies (COLI) of $1.4 million and mutual funds of $1.0 million with the intention of utilizing them as a long-term funding source for the deferred compensation plan. The COLI assets are recorded at their net cash surrender values and are included in other non-current assets in the consolidated balance sheet. The mutual fund investments are recorded at estimated fair value, based on quoted market prices, and are included in other non-current assets in the consolidated balance sheet.