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BENEFIT PLANS
12 Months Ended
Apr. 27, 2014
Postemployment Benefits [Abstract]  
BENEFIT PLANS
15. BENEFIT PLANS
 
Defined Contribution Plans
 
The company has defined contribution plans which cover substantially all employees and provides for participant contributions on a pre-tax basis and matching contributions by the company for its U.S. and Canadian operations. Our contributions to the plan were $696,000, $635,000, and $606,000 in fiscal years 2014, 2013, and 2012, respectively.
 
Deferred Compensation Plan
 
We have a nonqualified deferred compensation plan (the “Plan”) covering officers and certain key members of management. The Plan provides for participant deferrals on a pre-tax basis that are subject to annual deferral limits by the IRS and non-elective contributions made by the company. Participant deferrals and non-elective contributions made by the company are immediately vested.
 
Our contributions to the Plan were $166,000 for fiscal 2014, $145,000 for fiscal 2013, and $132,000 for fiscal 2012, respectively. Our nonqualified deferred compensation plan liability of $2.6 million at April 27, 2014, was recorded in deferred compensation in the 2014 Consolidated Balance Sheet. Our nonqualified deferred compensation plan liability of $2.0 million at April 28, 2013, was recorded in accrued expenses in the 2013 Consolidated Balance Sheet.
 
Effective January 1, 2014, we established a Rabbi Trust (the “Trust”) to set aside funds for the participants of the Plan and enable the participants to direct their contributions to various investment options in the Plan. The investment options of the Plan consist of a money market fund and various mutual funds. The funds set aside in the Trust are subject to the claims of our general creditors in the event of the company’s insolvency as defined in the Plan. Commencing February 2014, we disbursed funds to the Trust that partially funded our existing participant account balances as of December 31, 2013 and calendar 2014 contributions.
 
The investment assets of the Trust are recorded at their fair value of $765,000 and are included in long-term investments in the 2014 Consolidated Balance Sheet. The investment assets of the Trust are classified as available for sale and accordingly, changes in their fair values are recorded in other comprehensive income (loss).