Defined Benefit Plans

9 Months Ended

Oct. 31, 2015

Disclosure Text Block Supplement [Abstract]

Compensation and Employee Benefit Plans [Text Block]

Note 5. Defined Benefit Plans

The Company maintains a non-qualified Supplemental Executive Retirement Plan (“SERP”) for certain executive officers of the Company. The SERP provides eligible executives defined pension benefits that supplement benefits under other retirement arrangements. During the thirty-nine weeks ended October 31, 2015, the Company did not make any cash contributions to the SERP and presently expects to pay approximately $182,000 in benefits relating to the SERP during fiscal 2015.

The measurement date for the SERP Plan is the Company’s fiscal year end, using actuarial techniques which reflect estimates for mortality, turnover and expected retirement. In addition, management makes assumptions concerning future salary increases. Discount rates are generally established as of the measurement date using theoretical bond models that select high-grade corporate bonds with maturities or coupons that correlate to the expected payouts of the applicable liabilities.

The following represents the components of the net periodic pension cost related to the Company’s SERP for the respective periods:  

	Thirteen weeks ended						Thirty-nine weeks ended
	October 31, 2015			November 1, 2014			October 31, 2015			November 1, 2014
	(in thousands)						(in thousands)
Service cost	$	17		$	14		$	51		$	42
Interest cost		145			172			435			517
Amortization of pension costs		86			180			258			540
Amortization of net gain(1)		(9	)		(35	)		(27	)		(106	)
Net periodic pension cost	$	239		$	331		$	717		$	993

(1) The amortization of net gain is related to a Director Retirement Plan previously provided by the Company.