BENEFIT PLANS

Defined Benefit Pension & Post-Retirement Plans — We maintain a noncontributory defined benefit pension plan and a post-retirement benefit plan which cover certain union and nonunion employees. The annual contributions for the pension plan are not less than the minimum funding standards set forth in the Employee Retirement Income Security Act of 1974, as amended. We do not pre-fund the benefits for the post-retirement benefit plan. The plans provide for eligible employees to receive benefits based principally on years of service. We record the expected cost of these benefits as expense during the years that employees render service.

We account for these plans under FASB ASC 715, “Defined Benefit Plans - Pension,” which requires an employer to recognize the funded status of any defined benefit pension and/or other postretirement benefit plans, including any unrecognized prior service costs, transition obligations or actuarial gains/losses, as an asset or liability in its balance sheet.

The following table sets forth the plans' benefit obligations, fair value of plan assets, and funded status at January 28, 2012 and February 2, 2013:



	Pension Benefits						Postretirement Benefits

	Fiscal Year						Fiscal Year
	2011			2012			2011			2012
	(In thousands)
Accumulated benefit obligation	$	1,633		$	1,978		$	46		$	43
Fair value of plan assets	1,777			1,904			—			—
Funded status	144			(74		)	(46		)	(43		)
Accrued (prepaid) benefit cost recognized in the balance sheets	$	(144	)	$	74		$	46		$	43

Weighted-average discount rate assumptions used to determine benefit obligations as of January 28, 2012 and February 2, 2013 (the dates of the latest actuarial calculations) were 4.75% and 4.25%, respectively. Weighted-average assumptions used to determine net cost included a discount rate of 6.00%, 5.75% and 4.75% for fiscal years 2010, 2011 and 2012, respectively. The return on plan assets assumption was 7.00% for fiscal years 2010, 2011 and 2012.

Plan assets of our pension benefits as of January 28, 2012 and February 2, 2013 consisted primarily of balanced mutual funds and short-term investment funds.

Pension expense recognized in our statements of income was $0.1 million for each of fiscal years 2010, 2011 and 2012. We contributed $0.4 million to the pension plan in fiscal year 2011 and made no contribution in fiscal year 2012. We do not expect to be required to contribute significant amounts of cash in fiscal year 2013 to the pension plan.

Profit Sharing Plan — We maintain a defined contribution 401(k) profit sharing plan for our employees. All non-union and certain union employees are eligible to participate in the plan on the first day of the month following three months of service. Employee contributions to the plan are limited based on applicable sections of the Internal Revenue Code. Our contribution to the 401(k) plan is discretionary. Amounts expensed related to the plan for matching contributions were approximately $0.9 million, $0.9 million, and $0.4 million for fiscal years 2010, 2011 and 2012, respectively.

Deferred Compensation Plan — We also maintain a non-qualified deferred compensation plan for certain executives. All assets of the plan are fully subject to our creditors. There were no matching contributions in any of fiscal years 2010, 2011 or 2012, although contributions were made by certain executives. Included in the Consolidated Balance Sheets, within “Prepaid expenses and other current assets” and “Accrued Expenses,” are separate amounts of an equal asset and liability of $2.5 million at fiscal year-end 2011 and $2.8 million at fiscal year-end 2012.