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BENEFIT PLANS
9 Months Ended
Nov. 02, 2013
BENEFIT PLANS  
BENEFIT PLANS

NOTE 10BENEFIT PLANS

 

During the first three quarters of fiscal 2013, contribution expense to the Company’s defined contribution supplemental executive retirement plan (the “Account Plan”) and qualified 401(k) savings plan was $2.5 million.  For fiscal 2013, contributions to the Account Plan are contingent upon meeting certain performance metrics.  The Company did not record any contribution expense for these plans in fiscal 2012.

 

During the fourth quarter of fiscal 2012, the Company terminated its defined benefit pension plan and contributed $14.1 million to fully fund the plan on a termination basis.  Accordingly, the Company has no further defined benefit pension expense.

 

Pension expense for the first three quarters of fiscal 2012 was as follows:

 

 

 

Thirty-nine weeks ended

 

(dollar amounts in thousands)

 

October 27, 2012

 

Interest cost

 

$

1,857

 

Expected return on plan assets

 

(2,112

)

Amortization of net loss

 

1,699

 

Net periodic benefit cost

 

$

1,444