RETIREMENT PLANS:

12 Months Ended

Mar. 31, 2011

RETIREMENT PLANS:

RETIREMENT PLANS:

14.           RETIREMENT PLANS:

The Company has a qualified 401(k) retirement savings plan which covers substantially all U.S. employees.  The Company also offers a supplemental nonqualified deferred compensation plan (“SNQDC Plan”) for certain highly-compensated employees.  Prior to July 1, 2009, the Company matched 50% of the first 6% of employees’ annual aggregate contributions to both plans and may contribute additional amounts to the plans from the Company’s earnings at the discretion of the board of directors.  Effective July 1, 2009, through the remainder of the fiscal year 2010, the Company match was suspended.  Effective April 1, 2010, the Company reinstated the match at 25% of the first 6% of employees’ annual aggregate contributions.  Effective October 1, 2010, the Company reinstated the full 50% match of the first 6% of employee’s annual aggregate contributions.

Company contributions for the above plans amounted to approximately $3.9 million, $1.7 million and $7.5 million in fiscal years 2011, 2010 and 2009, respectively.  Included in both other current assets and other accrued liabilities are the assets and liabilities of the SNQDC Plan in the amount of $12.8 million and $11.6 million at March 31, 2011 and 2010, respectively.

The Company has one small defined benefit pension plan covering certain European employees.  During fiscal 2010, the Company had three small defined benefit pension plans covering certain European employees, however one plan was discontinued at the end of fiscal 2010 and one plan was transferred to the purchaser of the disposed Netherlands operations.  Both the projected benefit obligation and accumulated benefit obligation were $0.6 million as of March 31, 2011 and $3.3 million as of March 31, 2010.

There was no fair value in the plan assets as of March 31, 2011 and $2.6 million as of March 31, 2010.  The excess of benefit obligations over plan assets was $0.6 million at March 31, 2011 and $0.7 million at March 31, 2010.