Note G - Pension and Other Postretirement Benefit Plans

3 Months Ended

Sep. 29, 2017

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

G. Pension and Other Postretirement Benefit Plans

The Company has non-contributory, qualified defined benefit plans covering substantially all domestic employees hired prior to

October 1, 2003

and certain foreign employees. Additionally, the Company provides health care and life insurance benefits for certain domestic retirees. The components of the net periodic benefit cost for the defined benefit pension plans and the other postretirement benefit plan are as follows:

	For the Quarter Ended
	September 29, 2017			September 30, 2016
Pension Benefits:
Service cost	$	262		$	221
Interest cost		1,074			1,125
Expected return on plan assets		(1,525	)		(1,442	)
Amortization of transition obligation		9			9
Amortization of prior service cost		1			1
Amortization of actuarial net loss		759			899
Net periodic benefit cost	$	580		$	813
Postretirement Benefits:
Service cost	$	5		$	6
Interest cost		92			122
Amortization of actuarial net loss		3			182
Net periodic benefit cost	$	100		$	310

The Company expect

s to contribute approximately

$2,265

to its pension plans in fiscal

2018.

As of

September 29, 2017,

the amount of

$771

in contributions has been made.

The Company has

reclassified

$474

(net of

$278

in taxes) of benefit plan adjustments from accumulated other comprehensive loss during the quarter ended

September 29, 2017,

and

$672

(net of

$399

in taxes) during the quarter ended

September 30, 2016.

These reclassifications are included in the computation of net periodic benefit cost.