Employee Benefit Plans

12 Months Ended

Dec. 25, 2021

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Defined Contribution Plans

The Company sponsors a 401(k) defined contribution plan that covers a significant portion, or approximately 86% of the Company's associates. This plan includes a mandatory Company match on the first 1% of participants' contributions. The Company matches the next 2% of participants' contributions if the Company meets prescribed earnings levels. The plan also provides for additional Company contributions above the 3% level if the Company attains certain additional performance targets. Matching contribution expense for this 401(k) plan was $1,176 in 2021 and $345 in 2020.

Additionally, the Company sponsors a 401(k) defined contribution plan that covers those associates at one facility who are under a collective-bargaining agreement, or approximately 14% of the Company's associates. Under this plan, the Company generally matches participants' contributions, on a sliding scale, up to a maximum of 2.75% of the participant's earnings. Matching contribution expense for the collective-bargaining 401(k) plan was $101 in 2021 and $96 in 2020.

Non-Qualified Retirement Savings Plan

The Company sponsors a non-qualified retirement savings plan that allows eligible associates to defer a specified percentage of their compensation. The obligations for continuing operations owed to participants under this plan were $15,794 at December 25, 2021 and $15,081 at December 26, 2020 and are included in other long-term liabilities in the Company's Consolidated Balance Sheets. The obligations for discontinued operations owed to participants under this plan were $2,218 at December 25, 2021 and $2,566 at December 26, 2020 and are included in long term liabilities of discontinued operations in the Company's Consolidated Balance Sheets.The obligations are unsecured general obligations of the Company and the participants have no right, interest or claim in the assets of the Company, except as unsecured general creditors. The Company utilizes a Rabbi Trust to hold, invest and reinvest deferrals and contributions under the plan. Amounts are invested in Company-owned life insurance in the Rabbi Trust and the cash surrender value of the policies for continuing operations was $16,608 at December 25, 2021 and $15,385 at December 26, 2020 and is included in other assets in the Company's Consolidated Balance Sheets. The cash surrender value of the policies for discontinued operations was $2,218 at December 25, 2021 and $2,566 at December 26, 2020 and is included in long term assets of discontinued operations in the Company's Consolidated Balance Sheets.

Multi-Employer Pension Plan

Recognized within discontinued operations, the Company contributes to a multi-employer pension plan under the terms of a collective-bargaining agreement that covers its union-represented employees. These union-represented employees represented approximately 15% of the Company's total employees. The risks of participating in multi-employer plans are different from single-employer plans. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. If the Company chooses to stop participating in the multi-employer plan, the Company may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

The Company's participation in the multi-employer pension plan for 2021 is provided in the table below. The "EIN/Pension Plan Number" column provides the Employee Identification Number (EIN) and the three digit plan number. The most recent Pension Protection Act (PPA) zone status available in 2021 and 2020 is for the plan's year-end at 2020 and 2019, respectively. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded and plans in the green zone are at least 80% funded. The "FIP/RP Status Pending/Implemented" column indicates a plan for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject.


Pension Fund	EIN/Pension Plan Number	Pension Protection Act Zone Status		FIP/RP Status Pending/Implemented (1)	Contributions (2)						Surcharge Imposed (1)	Expiration Date of Collective-Bargaining Agreement
		2021	December 26, 2020 (As Adjusted)		2021		2020		2019
The Pension Plan of the National Retirement Fund	13-6130178 - 001	Red	Red	Implemented	$	280	$	272	$	335	Yes	6/4/2022

(1) The collective-bargaining agreement requires the Company to contribute to the plan at the rate of $0.47 per compensated hour for each covered employee. The Company will make additional contributions, as mandated by law, in accordance with the fund's 2010 Rehabilitation Plan which required a surcharge equal to $0.03 per hour (from $0.47 to $0.50) effective June 1, 2014 to May 31, 2015, a surcharge equal to $0.03 per hour (from $0.50 to $0.53) effective June 1, 2015 to May 31, 2016, a surcharge equal to $0.02 per hour (from $0.53 to $0.55) effective June 1, 2016 to May 31, 2017, a surcharge equal to $0.03 per hour (from $0.55 to $0.58) effective June 1, 2017 to May 31, 2018, a surcharge equal to $0.02 per hour (from $0.58 to $0.60) effective June 1, 2018 to May 31, 2019, a surcharge equal to $0.03 per hour (from $0.60 to $0.63) effective June 1, 2019 to May 31, 2020, and a surcharge equal to $0.03 per hour (from $0.63 to $0.66) effective June 1, 2020 to May 31, 2021. Based upon current employment and benefit levels, the Company's contributions to the multi-employer pension plan are expected to be approximately $290 for 2022.

(2) The Company's contributions to the plan do not represent more than 5% of the total contributions to the plan for the most recent plan year available.

Postretirement Plans

The Company sponsors a postretirement benefit plan that provides life insurance to a limited number of associates upon retirement as part of a collective bargaining agreement.

Information about the benefit obligation and funded status of the Company's postretirement benefit plan is summarized as follows:


	2021		2020
Change in benefit obligation:
Benefit obligation at beginning of year	$	390	$	360
Service cost	8		8
Interest cost	16		17

Actuarial (gain) loss	(17)		6
Benefits paid	(1)		(1)

Benefit obligation at end of year	396		390

Change in plan assets:
Fair value of plan assets at beginning of year	—		—
Employer contributions	1		1

Benefits paid	(1)		(1)

Fair value of plan assets at end of year	—		—

Unfunded amount	$	(396)	$	(390)

The balance sheet classification of the Company's liability for the postretirement benefit plan is summarized as follows:


	2021		2020
Accrued expenses	$	19	$	17
Other long-term liabilities	377		373
Total liability	$	396	$	390

Benefits expected to be paid on behalf of associates for the postretirement benefit plan during the period 2021 through 2030 are summarized as follows:


Years	Postretirement Plan
2022	$	19
2023	18
2024	17
2025	17
2026	16
2027-31	83

Assumptions used to determine the benefit obligation of the Company's postretirement benefit plan are summarized as follows:


	2021		2020
Weighted-average assumptions as of year-end:
Discount rate (benefit obligation)	3.25	%	3.25	%

Components of net periodic benefit cost (credit) for the postretirement plan are summarized as follows:



	2021		2020
Service cost	$	8	$	8
Interest cost	16		17
Amortization of prior service credits	—		—
Recognized net actuarial gains	(22)		(25)

Net periodic benefit cost (credit)	$	2	$	—

Pre-tax amounts included in AOCIL for the Company's postretirement benefit plan at 2020 are summarized as follows:


	Postretirement Benefit Plan
	Balance at 2021		2022 Expected Amortization

Unrecognized actuarial gains	$	(309)	$	(22)
Totals	$	(309)	$	(22)