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Deferred Compensation and Retirement Plans | 9 Months Ended
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Jan. 31, 2013
Deferred Compensation and Retirement Plans | 6. Deferred Compensation and Retirement Plans The Company has several deferred compensation and retirement plans for eligible consultants and vice-presidents that provide defined benefits to participants based on the deferral of current compensation or contributions made by the Company subject to vesting and retirement or termination provisions. The components of net periodic benefit costs are as follows:
|  | Three Months Ended January 31, |  |  | Nine Months Ended January 31, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
|  | (in thousands) |
Interest cost |  | $ | 756 |  |  | $ | 884 |  |  | $ | 2,268 |  |  | $ | 2,652 |
Amortization of actuarial loss |  |  | 594 |  |  |  | 355 |  |  |  | 1,782 |  |  |  | 1,065 |
Net periodic benefit costs |  | $ | 1,350 |  |  | $ | 1,239 |  |  | $ | 4,050 |  |  | $ | 3,717 |
The Company purchased COLI contracts insuring employees eligible to participate in the deferred compensation and pension plans as a means of funding benefits under such plans. The gross CSV of these contracts of $156.8 million and $151.1 million is offset by outstanding policy loans of $73.3 million in the accompanying consolidated balance sheets as of January 31, 2013 and April 30, 2012, respectively. The market value of the underlying COLI investments increased by $2.0 million and $4.2 million during the three and nine months ended January 31, 2013, respectively, and is recorded as a decrease in compensation and benefits expense in the accompanying consolidated statement of income. During the three and nine months ended January 31, 2012, the market value of the underlying COLI investments increased by $2.2 million and $3.3 million, respectively, and is recorded as a decrease in compensation and benefits expense in the accompanying consolidated statement of income. The Company has an ECAP, which is intended to provide certain employees an opportunity to defer salary and/or bonus on a pre-tax basis or make an after-tax contribution. The Company made contributions to the ECAP during the three months ended January 31, 2013 and 2012, of $0.7 million and $0.2 million, respectively. The Company made contributions to the ECAP during the nine months ended January 31, 2013 and 2012, of $20.0 million and $15.5 million, respectively. Participants generally vest in Company contributions over a four year period. The ECAP is accounted for whereby the changes in the fair value of the vested amounts owed to the participants are adjusted with a corresponding charge (or credit) to compensation and benefits costs. During the three and nine months ended January 31, 2013, deferred compensation liability increased; therefore, the Company recognized an increase in compensation expense of $2.9 million and $3.4 million, respectively. During the three months ended January 31, 2012, deferred compensation liability increased; therefore, the Company recognized compensation expense of $1.6 million. During the nine months ended January 31, 2012, deferred compensation liability decreased; therefore, the Company recognized a reduction in compensation expense of $2.0 million.

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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 Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 7, 21, 22 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name FASB Staff Position (FSP) -Number FAS106-2 -Paragraph 20, 21, 22 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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