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Retirement Plans
6 Months Ended
Jun. 26, 2011
Retirement Plans [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
Retirement Plans


We have an unfunded supplemental executive retirement plan covering certain officers, key members of management and our non-employee directors.  Subject to certain vesting requirements, the plan provides for retirement benefits based on the average of the final thirty-six months of base salary.  Such benefits become payable upon the employee's death or upon attaining age sixty-five, if retired.  The benefits are paid weekly and continue for the retiree’s remaining life or for a minimum of ten years. The plan was closed to new participants effective February 3, 2011.


For the twenty-six weeks ended June 26, 2011, payments to retirees or their beneficiaries totaled approximately $499,000.  We presently anticipate benefit payments in 2011 to total approximately $1.0 million.  The following table summarizes the components of net periodic pension cost for the first two quarters of 2011 and 2010.


(Dollars in thousands)
Thirteen Weeks Ended
 
Twenty-Six Weeks Ended
 
June 26,

2011
 
June 27,

2010
 
June 26,

2011
 
June 27,

2010
Service cost
$
74


 
$
146


 
$
148


 
$
292


Interest cost
323


 
317


 
646


 
633


Net amortization
6


 


 
12


 


Net periodic pension cost
$
403


 
$
463


 
$
806


 
$
925