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EMPLOYEE BENEFITS | 12 Months Ended
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Dec. 29, 2013
Compensation And Retirement Disclosure [Abstract] |
EMPLOYEE BENEFITS |
(7) | EMPLOYEE BENEFITS
The Company has a retirement savings plan which qualifies under Internal Revenue Code Section 401(k). All employees of the Company who have completed 1,000 hours of service and are at least 21 years of age are eligible to participate in the plan. The plan requires the Company to match 100% of the first 3% of each employee’s elective deferrals and 50% of the next 2% of each employee’s elective deferrals. During 2011, 2012 and 2013, the Company’s matching contributions were made in the form of cash and vested immediately. The expenses incurred for Company contributions to the plan were approximately $3.7 million in 2011, $3.8 million in 2012 and $3.9 million in 2013. The Company has established a non-qualified deferred compensation plan available for certain key employees. Under this self-funding plan, the participants may defer up to 40% of their annual compensation. The participants direct the investment of their deferred compensation within several investment funds. The Company is not required to contribute and did not contribute to this plan during 2011, 2012 or 2013. The Company has an employee stock purchase discount plan (the ESPDP). Under the ESPDP, eligible employees may deduct up to 15% of their eligible wages to purchase common stock at 85% of the market price of the stock at the purchase date. The ESPDP requires employees to hold their purchased common stock for at least one year. There are 1,000,000 shares authorized to be issued under the ESPDP. There were 40,107 shares, 130 shares and 230 shares issued under the ESPDP in 2011, 2012 and 2013, respectively. During 2011, the Company began to purchase common stock on the open market for the ESPDP at the current market price as soon as practicable under the plan. There were 23,468 shares, 37,769 shares and 27,404 shares of common stock in 2011, 2012 and 2013, respectively, purchased on the open market for participating employees at a weighted-average price of $27.99 in 2011, $34.60 in 2012 and $55.24 in 2013. The expenses incurred under the ESPDP were approximately $0.1 million in 2011 and $0.2 million in both 2012 and 2013.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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