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BENEFIT PLANS
3 Months Ended
May 02, 2015
BENEFIT PLANS  
BENEFIT PLANS

NOTE 9BENEFIT PLANS

 

The Company has a qualified 401(k) savings plan and a separate plan for employees residing in Puerto Rico, which cover all full-time employees who are at least 18 years of age and have completed the lesser of (1) six consecutive months of employment and have a minimum of 500 hours of service and (2) 12 consecutive months and have a minimum of 1,000 hours of service. The Company contributes the lesser of 50% of the first 6% of a participant’s contributions or 3% of the participant’s compensation under both savings plans. The Company’s savings plans’ contribution expense was $0.7 million and $0.8 million in the first quarter of fiscal 2015 and fiscal 2014, respectively.