Annual report pursuant to Section 13 and 15(d)

EMPLOYEE BENEFIT PLANS

v2.4.0.6
EMPLOYEE BENEFIT PLANS
 12 Months Ended
Jan. 28, 2012
EMPLOYEE BENEFIT PLANS [Abstract]  
EMPLOYEE BENEFIT PLANS [Text Block]
NOTE 8 – EMPLOYEE BENEFIT PLANS

Profit Sharing and 401(k) Retirement Plan
The Company maintains a defined contribution profit sharing and 401(k) plan which is available to all employees over 21 years of age who have completed one year of service in which they have worked at least 1,000 hours.  Eligible employees may make elective salary deferrals.  The Company may make contributions at its discretion.

Contributions to and reimbursements by the Company of expenses of the plan included in the accompanying consolidated statements of operations were as follows:

Year Ended January 28, 2012
$37.9 million
Year Ended January 29, 2011
  35.1 million
Year Ended January 30, 2010
  30.4 million

Eligible employees hired prior to January 1, 2007 are immediately vested in the Company’s profit sharing contributions.  Eligible employees hired on or subsequent to January 1, 2007 vest in the Company’s profit sharing contributions based on the following schedule:

· 20% after two years of service
· 40% after three years of service
· 60% after four years of service
· 100% after five years of service

All eligible employees are immediately vested in any Company match contributions under the 401(k) portion of the plan.
 
Deferred Compensation Plan
The Company has a deferred compensation plan which provides certain officers and executives the ability to defer a portion of their base compensation and bonuses and invest their deferred amounts.  The plan is a nonqualified plan and the Company may make discretionary contributions.  The deferred amounts and earnings thereon are payable to participants, or designated beneficiaries, at specified future dates, or upon retirement or death.  Total cumulative participant deferrals were approximately $3.3 million and $2.8 million, respectively, at January 28, 2012 and January 29, 2011, and are included in "other liabilities" on the accompanying consolidated balance sheets.  The related assets are included in "other assets, net" on the accompanying consolidated balance sheets.  The Company did not make any discretionary contributions in the years ended January 28, 2012, January 29, 2011, or January 30, 2010.