13. Employee Benefit Plans

We sponsor a 401(k) retirement savings plan (the “Plan”) that covers substantially all domestic employees of SeaChange. The Plan allows employees to contribute gross salary through payroll deductions up to the legally mandated limit based on their jurisdiction. Participation in the Plan is available to full-time employees who meet eligibility requirements. We also contribute to various retirement plans for our employees outside the United States of which the amounts will vary, according to the local plans specific to each foreign location. During fiscal 2014, 2013 and 2012, we contributed $1.7 million, $1.4 million and $1.1 million, respectively.

We have a statutory pension benefit obligation covering current employees in the Philippines. We recorded a total of approximately $33,000 and $34,000 in interest costs in fiscal 2014 and fiscal 2013, respectively, and $0.2 million in service costs in both fiscal years relating to this obligation. The total unfunded projected benefit obligation was $0.7 million and $0.6 million as of January 31, 2014 and 2013, respectively, and recorded in other liabilities, long-term, in our consolidated balance sheets. We do not anticipate to begin paying this obligation until fiscal 2020 and estimate $0.3 million in benefit payments through fiscal 2024. We used projected discount rates of 5.9% and 6.0% for fiscal 2014 and 2013, respectively, and compensation increase rates of 7.0% and 8.0%, respectively, in the calculation of our benefit obligation and periodic benefit costs. During fiscal years 2014, 2013 and 2012, we recorded $0.2 million, $0.2 million and $0.1 million, respectively, in periodic benefit costs for this obligation.