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Retirement Benefit Plans (Tables)
6 Months Ended
Jun. 27, 2020
Retirement Benefit Plans  
Schedule of Significant Disclosures Relating to Benefit Plans

 

 

Pension Benefits

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 27, 2020

 

 

June 29, 2019

 

 

June 27, 2020

 

 

June 29, 2019

 

Service cost

 

$266,434

 

 

$263,854

 

 

$532,870

 

 

$527,706

 

Interest cost

 

 

714,142

 

 

 

879,080

 

 

 

1,428,285

 

 

 

1,758,160

 

Expected return on plan assets

 

 

(1,365,262)

 

 

(1,190,331)

 

 

(2,730,523)

 

 

(2,380,661)

Amortization of prior service cost

 

 

24,845

 

 

 

24,845

 

 

 

49,690

 

 

 

49,690

 

Amortization of the net loss

 

 

325,034

 

 

 

290,550

 

 

 

650,068

 

 

 

581,099

 

Net periodic benefit cost (benefit)

 

$(34,807)

 

$267,998

 

 

$(69,610)

 

$535,994

 

 

 

 

Postretirement Benefits

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 27, 2020

 

 

June 29, 2019

 

 

June 27, 2020

 

 

June 29, 2019

 

Service cost

 

$10,855

 

 

$8,216

 

 

$21,710

 

 

$16,432

 

Interest cost

 

 

11,667

 

 

 

20,346

 

 

 

23,334

 

 

 

40,692

 

Expected return on plan assets

 

 

(5,589)

 

 

(14,482)

 

 

(11,178)

 

 

(28,963)

Amortization of prior service cost

 

 

(2,063)

 

 

(1,268)

 

 

(4,126)

 

 

(2,536)

Amortization of the net loss

 

 

(6,377)

 

 

(20,507)

 

 

(12,754)

 

 

(41,014)

Net periodic benefit cost (benefit)

 

$8,493

 

 

$(7,695)

 

$16,986

 

 

$(15,389)
Schedule of Defined Contribution Plan

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 27, 2020

 

 

June 29, 2019

 

 

June 27, 2020

 

 

June 29, 2019

 

Regular matching contribution

 

$168,529

 

 

$136,796

 

 

$373,521

 

 

$293,063

 

Transitional credit contribution

 

 

64,223

 

 

 

74,852

 

 

 

146,349

 

 

 

178,376

 

Non-discretionary contribution

 

 

12,390

 

 

 

18,088

 

 

 

580,048

 

 

 

605,129

 

Total contributions for the period

 

$245,142

 

 

$229,736

 

 

$1,099,918

 

 

$1,076,568