Note 10 - Pensions

9 Months Ended

Sep. 27, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

10. Pensions

The components of net periodic benefit cost for the three and nine months ended September 27, 2014, compared with the three and nine months ended September 28, 2013, were (in thousands):

	U.S. Pension Benefits												Foreign Plans
	Three Months Ended						Nine Months Ended						Three Months Ended						Nine Months Ended
	Sept. 27, 2014			Sept. 28, 2013			Sept. 27, 2014			Sept. 28, 2013			Sept. 27, 2014			Sept. 28, 2013			Sept. 27, 2014			Sept. 28, 2013
Service cost	$	150		$	150		$	450		$	450		$	311		$	290		$	933		$	813
Interest cost		971			891			2,913			2,674			591			532			1,774			1,014
Expected return on plan assetsassets		(1,412	)		(1,340	)		(4,234	)		(4,020	)		(572	)		(446	)		(1,718	)		(717	)
Amortization of net loss		137			235			411			706			47			39			142			116
Total (credit) cost of the plan		(154	)		(64	)		(460	)		(190	)		377			415			1,131			1,226
Expected plan participants’ contribution		-			-			-			-			-			-			-			-
Net periodic benefit (credit) cost	$	(154	)	$	(64	)	$	(460	)	$	(190	)	$	377		$	415		$	1,131		$	1,226

The expected rate of return assumption on domestic pension assets is approximately 6.75% in 2014 and 2013. The expected return on foreign pension assets is approximately 5.14% and 3.00% in 2014 and 2013, respectively.

On July 31, 2014, the company terminated the Littelfuse, Inc. Retirement Plan (the “Pension Plan”), a plan that was previously offered to all full-time Company employees but frozen as to new participants and benefit accruals as of April 1, 2009. Distribution of plan assets resulting from the Pension Plan termination will not be made until the Internal Revenue Service and the Pension Benefit Guaranty Corporation determine that the termination satisfies applicable regulatory requirements. As a result of the termination of the Pension Plan, each participant will become fully vested in his or her benefits under the Pension Plan without regard to age and years of service. All participants will have a choice of receiving a lump sum payment or an annuity in full payment of their benefits accrued under the Pension Plan.