XML 33 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
RETIREMENT PLANS
 12 Months Ended
Dec. 31, 2011
RETIREMENT PLANS

NOTE L — RETIREMENT PLANS

401(k) plan

The Company maintains a defined contribution retirement plan for eligible employees under Section 401(k) of the Internal Revenue Code. Participants can make voluntary contributions up to the Internal Revenue Service limit of $16,500 ($22,000 for employees 50 years or over) for 2011. Effective January 1, 2009, the Company suspended its matching contribution as an expense savings measure.

Retirement benefit obligations

The Company assumed retirement benefit obligations, which are paid to certain former executives of an acquired business. The obligations under these agreements are unfunded. At December 31, 2011 and 2010, the total unfunded retirement benefit obligation was $3.4 million and $3.3 million, respectively, and is included in accrued expenses and deferred rent & other long-term liabilities. During the years ended December 31, 2011 and 2010, the Company paid retirement benefits related to these obligations of $148,000 and $148,000, respectively. The Company expects to pay a total of $148,000 in retirement benefits related to these obligations during the year ending December 31, 2012.