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Retirement Plans
12 Months Ended
Dec. 30, 2011
Retirement Plans

Note 11: Retirement Plans

 

The Company provides a 401(k) plan for its employees whereby the Company contributes to each eligible employee’s 401(k) account 7% of the employee’s eligible base salary plus overtime. The employee does not need to make a contribution to the plan to be eligible for the Company’s 7% contribution. To be eligible under the plan, an employee must be at least 21 years of age and be either a full-time or part-time salaried employee. The 7% Company contribution will vest 20% per year for the first 5 years of employment and then immediately thereafter. The Company’s expenses related to this plan were $6,148,000, $5,598,000, and $5,744,000 in fiscal 2011, 2010, and 2009, respectively.