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Retirement Plans Retirement Plans | 9 Months Ended
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Oct. 31, 2014
Compensation and Retirement Disclosure [Abstract] |
Retirement Plans | Retirement Plans The Company and its subsidiaries cover employees under a noncontributory defined benefit retirement plan, entitled the Virco Employees’ Retirement Plan (the “Pension Plan”). Benefits under the Employees Retirement Plan are based on years of service and career average earnings. As more fully described in the Form 10-K, benefit accruals under the Employees Retirement Plan were frozen effective December 31, 2003. The Company also provides a supplementary retirement plan for certain key employees, the VIP Retirement Plan (the “VIP Plan”). The VIP Plan provides a benefit of up to 50% of average compensation for the last 5 years in the VIP Plan, offset by benefits earned under the Pension Plan. As more fully described in the Form 10-K, benefit accruals under this plan were frozen effective December 31, 2003. The Company also provides a non-qualified plan for non-employee directors of the Company (the “Non-Employee Directors Retirement Plan”). The Non-Employee Directors Retirement Plan provides a lifetime annual retirement benefit equal to the director’s annual retainer fee for the fiscal year in which the director terminates his or her position with the Board, subject to the director providing 10 years of service to the Company. As more fully described in the Form 10-K, benefit accruals under this plan were frozen effective December 31, 2003. The net periodic pension cost (income) for the Pension Plan, the VIP Plan, and the Non-Employee Directors Retirement Plan for the three months and nine months ended October 31, 2014 and 2013 were as follows (in thousands):
| Three Months Ended
| Pension Plan |  | VIP Plan |  | Non-Employee Directors Retirement Plan
10/31/2014 |  | 10/31/2013 |  | 10/31/2014 |  | 10/31/2013 |  | 10/31/2014 |  | 10/31/2013
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 315 |  |  | 322 |  |  | 88 |  |  | 83 |  |  | 4 |  |  | 4 |
Expected return on plan assets | (275 | ) |  | (276 | ) |  | — |  |  | — |  |  | — |  |  | — |
Amortization of transition amount | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Recognized (gain) loss due to curtailments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Pension settlement | — |  |  | 800 |  |  | — |  |  | — |  |  | — |  |  | — |
Recognized net actuarial (gain) loss | 284 |  |  | 350 |  |  | 45 |  |  | 55 |  |  | (8 | ) |  | (3 | )
Benefit cost | $ | 324 |  |  | $ | 1,196 |  |  | $ | 133 |  |  | $ | 138 |  |  | $ | (4 | ) |  | $ | 1 |
| Nine months Ended
| Pension Plan |  | VIP Plan |  | Non-Employee Directors Retirement Plan
10/31/2014 |  | 10/31/2013 |  | 10/31/2014 |  | 10/31/2013 |  | 10/31/2014 |  | 10/31/2013
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost | 945 |  |  | 966 |  |  | 264 |  |  | 249 |  |  | 12 |  |  | 12 |
Expected return on plan assets | (825 | ) |  | (828 | ) |  | — |  |  | — |  |  | — |  |  | — |
Amortization of transition amount | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Recognized (gain) loss due to curtailments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization of prior service cost | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Pension settlement | — |  |  | 800 |  |  | — |  |  | — |  |  | — |  |  | — |
Recognized net actuarial (gain) loss | 852 |  |  | 1,050 |  |  | 135 |  |  | 165 |  |  | (24 | ) |  | (9 | )
Benefit cost | $ | 972 |  |  | $ | 1,988 |  |  | $ | 399 |  |  | $ | 414 |  |  | $ | (12 | ) |  | $ | 3 |

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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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