XML 25 R24.htm IDEA: XBRL DOCUMENT v2.4.0.6
Employee Benefit Plans
12 Months Ended
Mar. 30, 2013
Compensation Related Costs [Abstract]  
Employee Benefit Plans
Employee Benefit Plans
The Company has a self-funded group medical plan which is administered by third-party administrators. The medical plan has reinsurance coverage limiting liability for any individual employee loss to a maximum of $200,000. Incurred claims identified under the third-party administrator's incident reporting system and incurred but not reported claims are accrued based on estimates that incorporate the Company's past experience, as well as other considerations such as the nature of each claim or incident, relevant trend factors and advice from consulting actuaries when necessary. Medical claims expense was $6.0 million, $5.5 million and $3.4 million for fiscal years 2013, 2012 and 2011, respectively.
The Company sponsors an employee savings plan (the "401k Plan") that is intended to provide participating employees with additional income upon retirement. Employees may contribute their eligible compensation up to federal limits to the 401k Plan. The Company match is discretionary, and may be up to 50% of the first 5% of eligible compensation contributed by employees. For calendar year 2012, the Company match was 20% of the first 3% of eligible compensation contributed by employees. Employees are immediately eligible to participate and employer matching contributions are vested progressively over a four-year period. Employer matching contribution expense was $321,000, $188,000 and $117,000 for fiscal years 2013, 2012 and 2011, respectively.