Supplemental Executive Retirement Plan

3 Months Ended

Apr. 28, 2012

Supplemental Executive Retirement Plan

Supplemental Executive Retirement Plan

(12)Supplemental Executive Retirement Plan

The components of net periodic pension cost for the three months ended April 28, 2012 and April 30, 2011 were as follows (in thousands):

	Three Months Ended
	Apr. 28, 2012		Apr. 30, 2011
Interest cost	$	598	$	657
Net amortization of unrecognized prior service cost	155		388
Net amortization of actuarial losses	835		589
Net periodic defined benefit pension cost	$	1,588	$	1,634

As a non-qualified pension plan, no dedicated funding of the SERP is required; however, the Company has and expects to continue to make periodic payments into insurance policies held in a rabbi trust to fund the expected obligations arising under the non-qualified SERP. The amount of future payments may vary, depending on the future years of service, future annual compensation of the participants and investment performance of the trust. The cash surrender values of the insurance policies were $39.6 million and $38.4 million as of April 28, 2012 and January 28, 2012, respectively, and were included in other assets in the Company’s condensed consolidated balance sheets. As a result of changes in the value of the insurance policy investments, the Company recorded unrealized gains of $1.2 million and $1.5 million in other income during the three months ended April 28, 2012 and April 30, 2011, respectively.