EMPLOYEE DEFINED AND POSTRETIREMENT BENEFIT PLANS

3 Months Ended

May 02, 2015

EMPLOYEE DEFINED AND POSTRETIREMENT BENEFIT PLANS

EMPLOYEE DEFINED AND POSTRETIREMENT BENEFIT PLANS

7.EMPLOYEE DEFINED AND POSTRETIREMENT BENEFIT PLANS

The Company provides benefits to certain current and former associates who are eligible under a qualified defined benefit pension plan and various non-qualified supplemental pension plans (collectively, the “Pension Plans”).  Net periodic benefit expense for the Pension Plans includes the following (income) and expense components:

	THIRTEEN
	WEEKS ENDED
	May 2,			May 3,
	2015			2014
Interest cost	$	1,701		$	1,997
Expected return on plan assets	(2,410		)	(2,490		)
Recognition of net actuarial loss	1,698			944
Net periodic benefit expense	$	989		$	451

During the first quarter of 2015, contributions of $3,102 were made to the Pension Plans.  The Company anticipates contributing an additional $3,575 to fund the Pension Plans in fiscal 2015 for an annual total of $6,677.

The Company also provides medical and life insurance benefits to certain former associates under a postretirement benefit plan (“Postretirement Benefit Plan”).  Net periodic benefit income for the Postretirement Benefit Plan includes the following (income) and expense components:

	THIRTEEN
	WEEKS ENDED
	May 2,			May 3,
	2015			2014
Interest cost	$	16		$	22
Recognition of net actuarial gain	(107		)	(130		)
Net periodic benefit income	$	(91	)	$	(108	)

During the first quarter of 2015, the Company contributed $20 to fund the Postretirement Benefit Plan, and anticipates contributing an additional $335 to fund the Postretirement Benefit Plan in fiscal 2015, for a net annual total of $355.