Harris Teeter 2010 Annual Report Download - page 61

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— Portfolio restrictions that address such things as investment restrictions, proxy voting, and brokerage
arrangements; and
— Asset class restrictions that address such things as single security or sector concentration, capitalization
limits and minimum quality standards.
The Company plans to contribute $36.0 million to the Pension Plan and approximately $1.3 million to the
SERP during fiscal 2011. The Company’s contribution to the SERP represents the benefit payments made during
the fiscal year.
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid
by the Company’s defined benefit pension plans (in thousands):
Pension
Plan SERP
2011 ...................................................... $ 13,110 $ 1,271
2012 ...................................................... 14,032 1,354
2013 ...................................................... 15,029 1,584
2014 ...................................................... 16,006 2,059
2015 ...................................................... 16,992 2,028
Years 2016-2020 .......................................... 101,622 13,620
The Savings Plan is a defined contribution retirement plan pursuant to Section 401(k) of the Internal Revenue
Code, and was authorized for the purpose of providing retirement benefits for employees of the Company. The
Company provides a matching contribution based on the amount of eligible compensation contributed by the
associate and an automatic retirement contribution based on age and years of service.
The Company has certain deferred compensation arrangements which allow, or allowed in prior years, its
directors, officers and selected key management personnel to forego the receipt of earned compensation for specified
periods of time. These arrangements include (1) a directors’ compensation deferral plan, funded in a rabbi trust,
the benefit and payment under such plan being made in the Company’s common stock that has historically been
purchased on the open market, (2) a key management deferral plan, unfunded, the benefit liability under such plan
determined on the basis of the performance of selected market investment indices, and (3) other compensation
deferral arrangements, unfunded and only available to directors and select key management in prior years, the benefit
liability for which is determined based on fixed rates of interest.
Expense associated with the Savings Plan, deferred compensation arrangements and other plans, were as
follows (in thousands):
2010 2009 2008
Savings Plan ................................ $21,135 $21,608 $19,189
Deferred Compensation and other ............... 1,458 1,734 394
RUDDICK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (continued)
56