Annual report pursuant to Section 13 and 15(d)

Note 4 - Retirement Plan

Note 4 - Retirement Plan
12 Months Ended
Apr. 01, 2012
Pension and Other Postretirement Benefits Disclosure [Text Block]
Note 4 – Retirement Plan

The Company sponsors a defined contribution retirement savings plan with a cash or deferred arrangement (the “Plan”), as provided by Section 401(k) of the Internal Revenue Code (“Code”).  The Plan covers substantially all employees, who may elect to contribute a portion of their compensation to the Plan, subject to maximum amounts and percentages as prescribed in the Code.  Each calendar year, the Company’s Board of Directors (the “Board”) determines the portion, if any, of employee contributions that will be matched by the Company.  For calendar years 2011 and 2010, the employer matching contributions represented an amount equal to 100% of the first 2% of employee contributions and 50% of the next 1% of employee contributions to the Plan.  If an employee separates from the Company prior to the full vesting of the funds in their account that represent the matching employer portion of their account, then the unvested portion of the matching employer portion of their account is forfeited when they take a distribution of their account.  The Company utilizes such forfeitures as an offset to the aggregate matching contributions.  The Company's matching contribution to the Plan, net of the utilization of forfeitures, was $153,000 and $141,000 for fiscal years 2012 and 2011, respectively.