Other Postretirement Benefits

12 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Other Postretirement Benefits

NOTE 18. OTHER POSTRETIREMENT BENEFITS

Defined Contribution Plans

The Company has defined contribution plans for the benefit of substantially all employees meeting certain eligibility requirements. Employer contributions to such plans were $147 million, $142 million and $154 million for the fiscal years ended June 30, 2022, 2021 and 2020, respectively.

Deferred Compensation Plan

The Company has non-qualified deferred compensation plans for the benefit of certain management employees. The investment funds offered to the participants generally correspond to the funds offered in the Company’s 401(k) plan, and the account balance fluctuates with the investment returns on those funds. The unfunded obligations of the plans included in Other liabilities as of June 30, 2022 and 2021 were $48 million and $51 million, respectively, and the majority of these plans are closed to new employees.