XML 66 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Retirement Plans
12 Months Ended
Feb. 01, 2014
Retirement Plans [Abstract]  
Retirement Plans

11.RETIREMENT PLANS:

 

We have a 401(k) defined contribution employee benefit plan (the “Plan”) covering substantially all employees upon completion of one year of service, working 1,000 hours or more, and are at least age 21.  Employees' rights to Company contributions vest fully upon completing five years of service, with incremental vesting starting in service year two.  Under the Plan, employees may contribute up to 100 percent of their annual compensation, subject to certain statutory limitations.  We have elected to match employee contributions at 50 percent on the first 6 percent of the employees' contributions and can elect to make additional contributions over and above the mandatory match.  For fiscal 2013,  2012 and 2011, our costs under the Plan were approximately $3.5 million, $3.2 million, and $2.8 million, respectively. 

 

In April 2002, we adopted the Chico’s FAS, Inc. Deferred Compensation Plan (the “Deferred Plan”) to provide supplemental retirement income benefits for a select group of management employees.  Eligible participants may elect to defer up to 80 percent of their salary and 100 percent of their bonuses pursuant to the terms and conditions of the Deferred Plan.  The Deferred Plan generally provides for payments upon retirement, death or termination of employment.  In addition, we may make employer contributions to participants under the Deferred Plan.  To date, no Company contributions have been made under the Deferred Plan.  The amount of the deferred compensation liability payable to the participants is included in deferred liabilities in the consolidated balance sheets.  These obligations are funded through the establishment of rabbi trust accounts held by us on behalf of the management group participating in the plan.  The trust accounts are reflected in other assets in the accompanying consolidated balance sheets.