EMPLOYEE BENEFIT PLANS

3 Months Ended

Apr. 30, 2011

EMPLOYEE BENEFIT PLANS [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 6 – EMPLOYEE BENEFIT PLANS

We maintain a qualified defined benefit pension plan and a nonqualified supplemental defined benefit pension plan covering certain employees whose hire date occurred before April 1, 1994.

The weighted-average assumptions used to determine net periodic pension cost for our plans were as follows:

	First Quarter
	2011			2010
Discount rate		5.7	%		5.7	%
Rate of increase in compensation levels		3.9	%		3.5	%
Expected long-term rate of return		8.0	%		8.0	%
Measurement date for plan assets and benefit obligations	01/29/11			01/30/10

The components of combined net periodic pension cost were as follows:

	First Quarter
	2011			2010
(In thousands)
Service cost - benefits earned in the period	$	620		$	609
Interest cost on projected benefit obligation		844			814
Expected investment return on plan assets		(1,149	)		(1,062	)
Amortization of actuarial loss		354			554
Amortization of prior service cost		(9	)		(9	)
Amortization of transition obligation		3			3
Net periodic pension cost	$	663		$	909

We currently do not expect to contribute to the qualified defined benefit pension plan during 2011.  We will contribute to the nonqualified supplemental defined benefit pension plan as benefits are paid to plan participants, if any, because the nonqualified plan is not a funded plan.