Pension and Postretirement Benefits

6 Months Ended

Dec. 28, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and Postretirement Benefits

Pension and Postretirement Benefits

The Company has noncontributory defined benefit retirement plans and postretirement plans covering certain employees. The following tables summarize the plans’ income and expense for the periods indicated (in thousands):

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended						Three Months Ended
	December 28, 2014			December 29, 2013			December 28, 2014			December 29, 2013
Components of Net Periodic Expense (Income):
Service Cost	$	886		$	1,885		$	63		$	78
Interest Cost on Projected Benefit Obligation	12,430			13,419			907			1,151
Expected Return on Plan Assets	(18,631		)	(18,510		)	—			—
Amortization of:
Prior Service Cost (Credit)	45			45			(689		)	(724		)
Actuarial Loss	3,333			6,275			1,177			1,549
Net Periodic Expense (Income)	$	(1,937	)	$	3,114		$	1,458		$	2,054

	Pension Benefits						Other Postretirement Benefits
	Six Months Ended						Six Months Ended
	December 28, 2014			December 29, 2013			December 28, 2014			December 29, 2013
Components of Net Periodic Expense (Income):
Service Cost	$	1,716		$	3,823		$	148		$	167
Interest Cost on Projected Benefit Obligation	24,891			26,872			1,804			2,300
Expected Return on Plan Assets	(37,319		)	(37,076		)	—			—
Amortization of:
Prior Service Cost (Credit)	90			90			(1,379		)	(1,448		)
Actuarial Loss	6,631			12,545			2,324			3,008
Net Periodic Expense (Income)	$	(3,991	)	$	6,254		$	2,897		$	4,027

On January 1, 2014, an amendment to the Company's defined benefit retirement plans became effective that froze accruals for all U.S. non-bargaining employees. Also, on January 1, 2014, amendments became effective that increased benefits under the defined contribution plans.

The Company expects to make benefit payments of $3.2 million attributable to its non-qualified pension plans during fiscal 2015. During the first six months of fiscal 2015, the Company made payments of approximately $1.3 million for its non-qualified pension plans. The Company anticipates making benefit payments of approximately $12.7 million for its other postretirement benefit plans during fiscal 2015. During the first six months of fiscal 2015, the Company made payments of $8.3 million for its other postretirement benefit plans.

During the first six months of fiscal 2015, the Company made no cash contributions to the qualified pension plan. Based upon current regulations and actuarial studies, the Company is required to make no minimum contributions to the qualified pension plan during the remainder of fiscal 2015. The Company may be required to make further contributions in future years depending upon the actual return on plan assets and the funded status of the plan in future periods.