v2.4.0.6
Retirement Plans
 9 Months Ended
Nov. 30, 2011
Retirement Plans [Abstract]  
Retirement Plans

9. Retirement Plans

Effective December 31, 2008, we froze both our noncontributory defined benefit pension plan (the "pension plan") and our noncontributory unfunded nonqualified plan (the "restoration plan"), which restores retirement benefits for certain associates who are affected by Internal Revenue Code limitations on benefits provided under the pension plan. No additional benefits have accrued under these plans since that date. In connection with benefits earned prior to December 31, 2008, we have a continuing obligation to fund the pension plan and will continue to recognize net periodic pension expense for both plans. We use a fiscal year end measurement date for both the pension plan and the restoration plan.

COMPONENTS OF NET PENSION EXPENSE

                               
          Three Months Ended November 30        
(In thousands)   Pension Plan     Restoration Plan   Total  
    2011     2010     2011   2010   2011     2010  
Interest cost $ 1,708   $ 1,631   $ 130 $ 128 $ 1,838   $ 1,759  
Expected return on plan assets   (1,718 )   (1,639 )   0   0   (1,718 )   (1,639 )
Recognized actuarial loss   115     73     0   0   115     73  
Net pension expense $ 105   $ 65   $ 130 $ 128 $ 235   $ 193  

 

          Nine Months Ended November 30        
(In thousands)   Pension Plan     Restoration Plan   Total  
    2011     2010     2011   2010   2011     2010  
Interest cost $ 5,124   $ 4,906   $ 390 $ 390 $ 5,514   $ 5,296  
Expected return on plan assets   (5,154 )   (4,935 )   0   0   (5,154 )   (4,935 )
Recognized actuarial loss   345     210     0   0   345     210  
Net pension expense $ 315   $ 181   $ 390 $ 390 $ 705   $ 571  

 

We made contributions of $4.2 million to the pension plan during the nine months ended November 30, 2011. We anticipate making additional contributions of approximately $0.4 million during the remainder of fiscal 2012. The expected long-term rate of return on plan assets for the pension plan was 7.75% as of February 28, 2011.