Neiman Marcus 2009 Annual Report Download - page 122

Table of Contents
next twelve months as a result of settlements with tax authorities or expiration of statutes of limitation. At this time, we do not believe
such adjustments will have a material impact on our consolidated financial statements.
NOTE 13. EMPLOYEE BENEFIT PLANS
Description of Benefit Plans. We sponsor a defined benefit pension plan (Pension Plan) and an unfunded supplemental
executive retirement plan (SERP Plan) which provides certain employees additional pension benefits. Benefits under both plans are
based on the employees' years of service and compensation over defined periods of employment. We froze benefits offered to a
significant portion of participating employees under our Pension Plan and SERP Plan effective December 31, 2007. In the third
quarter of fiscal year 2010, we froze benefits offered to all remaining employees under our Pension Plan and SERP Plan. Retirees and
active employees hired prior to March 1, 1989 are eligible for certain limited postretirement health care benefits (Postretirement Plan)
if they meet certain service and minimum age requirements.
We also maintain defined contribution plans consisting of a 401(k) Plan, a retirement savings plan (RSP) and defined
contribution supplemental executive retirement plan (Defined Contribution SERP Plan). Employees make contributions to the
401(k) Plan and RSP and we match an employee's contribution up to a maximum of 6% of the employee's compensation subject to
statutory limitations for a potential maximum match of 50% of employee contributions to the 401(k) Plan and 75% of employee
contributions to the RSP. We also sponsor an unfunded key employee deferred compensation plan, which provides certain employees
with additional benefits. Our aggregate expense related to these plans was approximately $19.9 million in fiscal years 2010, $20.0
million in fiscal year 2009 and $19.2 million in fiscal year 2008.
Obligations for our employee benefit plans, included in other long-term liabilities, are as follows:
(in thousands)
July 31,
2010
August 1,
2009
Pension Plan $ 161,760 $ 156,001
SERP Plan 96,406 92,152
Postretirement Plan 17,914 17,920
276,080 266,073
Less: current portion (5,574)(5,069)
Long-term portion of benefit obligations $ 270,506 $ 261,004
As of July 31, 2010, we have $89.0 million (net of taxes of $57.8 million) of adjustments to such obligations recorded as
increases to accumulated other comprehensive loss.
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