Pension Plans and Other Postretirement Benefits

9 Months Ended

Jun. 25, 2022

Retirement Benefits [Abstract]

Pension Plans and Other Postretirement Benefits

15.Pension Plans and Other Postretirement Benefits

The following table provides the components of net periodic benefit costs:

	Pension Benefits
	Three Months Ended						Nine Months Ended
	June 25,			June 26,			June 25,			June 26,
	2022			2021			2022			2021
Interest cost	$	559		$	534		$	1,678		$	1,602
Expected return on plan assets		(353	)		(319	)		(1,061	)		(957	)
Amortization of net loss		598			899			1,797			2,695
Pension settlement charge		634			142			634			712
Net periodic benefit cost	$	1,438		$	1,256		$	3,048		$	4,052

	Postretirement Benefits
	Three Months Ended						Nine Months Ended
	June 25,			June 26,			June 25,			June 26,
	2022			2021			2022			2021
Interest cost	$	20		$	20		$	60		$	58
Amortization of prior service credits		(124	)		(124	)		(373	)		(373	)
Amortization of net (gain)		(181	)		(182	)		(543	)		(543	)
Net periodic benefit cost	$	(285	)	$	(286	)	$	(856	)	$	(858	)

The Partnership expects to contribute approximately $3,330 to the defined benefit pension plan during fiscal 2022, of which $2,220 was contributed during the nine months ended June 25, 2022. The projected annual contribution requirements related to the Partnership’s postretirement health care and life insurance benefit plan for fiscal 2022 is $710, of which $480 was contributed during the nine months ended June 25, 2022. During the third quarter of fiscal 2022, lump sum pension settlement payments exceeded the settlement threshold (combined service and interest costs of net periodic pension cost) of $2,238, which required the Partnership to recognize a non-cash settlement charge of $634. During each of the second and third quarters of fiscal 2021, lump sum pension settlement payments exceeded the settlement threshold of $2,135, which required the Partnership to recognize non-cash settlement charges of $570 and $142, respectively. These non-cash charges were required to accelerate recognition of a portion of cumulative unamortized losses in the defined benefit pension plans. The components of net periodic benefit cost are included in the line item Other, net in the condensed consolidated statements of operations.

The Partnership contributes to multi-employer pension plans (“MEPPs”) in accordance with various collective bargaining agreements covering union employees. As one of the many participating employers in these MEPPs, the Partnership is responsible with the other participating employers for any plan underfunding. As of June 25, 2022 and September 25, 2021, the Partnership’s estimated obligation to these MEPPs was $22,766 and $23,567, respectively, as a result of its voluntary full withdrawal from certain MEPPs.