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Retirement Plans
 3 Months Ended
Apr. 01, 2017
Compensation And Retirement Disclosure [Abstract]  
Retirement Plans

13.

RETIREMENT PLANS

The Company has defined benefit and defined contribution retirement plans for its employees, and provides certain health care benefits to eligible retirees and their dependents. The components of net periodic benefit (credits) costs for pension and other postretirement benefits, for Company sponsored plans, are provided below (in thousands):

 

 

 

13-Weeks Ended

 

 

 

Pension Benefits

 

 

Other Postretirement Benefits

 

 

 

April 1,

2017

 

 

April 2,

2016

 

 

April 1,

2017

 

 

April 2,

2016

 

Components of Net periodic benefit (credits) costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

506

 

 

$

966

 

 

$

10

 

 

$

9

 

Interest cost

 

 

10,138

 

 

 

9,817

 

 

 

72

 

 

 

74

 

Expected return on plan assets

 

 

(11,964

)

 

 

(12,221

)

 

 

—

 

 

 

—

 

Amortization of prior service cost

 

 

35

 

 

 

39

 

 

 

1

 

 

 

2

 

Amortization of net loss (gain)

 

 

1,051

 

 

 

1,860

 

 

 

(13

)

 

 

(18

)

Settlements

 

 

—

 

 

 

750

 

 

 

—

 

 

 

—

 

Net periodic benefit (credits) costs

 

$

(234

)

 

$

1,211

 

 

$

70

 

 

$

67

 

 

The Company contributed $10 million to its defined benefit and other postretirement plans during both 13-week periods ended April 1, 2017 and April 2, 2016. The Company expects to contribute a total of $36 million to the Company-sponsored pension plans and other postretirement plans in fiscal year 2017.

The Company’s employees are eligible to participate in a Company sponsored defined contribution 401(k) Plan which provides for Company matching on the participant’s contributions of up to 100% of the first 3% of participant’s compensation and 50% of the next 2% of a participant’s compensation, for a maximum Company matching contribution of 4%. The Company’s contributions to this plan were $12 million for both 13-week periods ended April 1, 2017 and April 2, 2016.

The Company also contributes to numerous multiemployer pension plans under the terms of certain of its collective bargaining agreements that cover its union-represented employees. The Company does not administer these multiemployer pension plans. The Company’s contributions to these plans were $9 million and $8 million for the 13-week periods ended April 1, 2017 and April 2, 2016, respectively.