Pension plans

3 Months Ended

Jan. 28, 2012

Compensation Related Costs, Retirement Benefits

Pension and Other Postretirement Benefits Disclosure [Text Block]

6.           The Company sponsors four defined benefit pension plans.  Net periodic pension cost for the four plans includes the following components:

	13 Weeks Ended			13 Weeks Ended			26 Weeks Ended			26 Weeks Ended
	January 28, 2012			January 29, 2011			January 28, 2012			January 29, 2011
Service cost	$	664		$	724		$	1,328		$	1,448
Interest cost on projected benefit obligations		678			633			1,356			1,266
Expected return on plan assets		(631	)		(510	)		(1,262	)		(1,020	)
Amortization of gains and losses		330			390			660			780
Amortization of prior service costs		2			2			4			4
Net periodic pension cost	$	1,043		$	1,239		$	2,086		$	2,478

As of January 28, 2012, the Company has contributed $109 to its pension plans in fiscal 2012.  The Company expects to contribute an additional $2,891 during the remainder of fiscal 2012 to fund its pension plans.

On April 15, 2011, Village, along with all of the other individual employers trading as ShopRite, permanently withdrew from participating in the United Food and Commercial Workers Local 152 Retail Meat Pension Fund, effective the end of April 2011. The Company recorded a pre-tax charge of $7,028 in fiscal 2011 for this withdrawal liability, which represented our estimate of the liability based on calculations provided by the Fund actuary. The Company settled this obligation in January 2012, resulting in a pre-tax benefit of $646 in the second quarter of fiscal 2012. Village remains liable for potential additional withdrawal liabilities to the Fund in the event a mass withdrawal, as defined by statute, occurs within two plan years after the plan year of Village’s withdrawal.  Such liabilities could be material to the Company’s consolidated financial statements.