Benefit And Retirement Plans

12 Months Ended

Jun. 30, 2023

Benefit And Retirement Plans [Abstract]

Benefit And Retirement Plans

12.  BENEFIT AND RETIREMENT PLANS

Defined Contribution and Retirement Plans

The Company sponsors a defined contribution retirement plan, which covers substantially all employees. The Company’s total matching contribution expense was $1.6 million, $2.0 million, and $1.0 million in fiscal years 2023, 2022, and 2021, respectively.

Multi-employer Pension Plans

The Company contributes to one multi-employer defined benefit pension plan under the terms of collective-bargaining agreements that cover its union-represented employees.

The Company’s participation in the current and previous defined benefit pension plans for the annual period ended June 30, 2023, is outlined in the following table. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2023 and 2022 is for the plan’s year-end on December 31, 2022, and 2021, 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 percent funded, plans in the yellow zone are between 65 percent and 80 percent funded, and plans in the green zone are at least 80 percent funded.

		Pension Protection										Expiration Date	Number of
		Act Zone Status				Company Contributions						of Collective	Company
	EIN/Pension	June 30,		Rehabilitation		(in thousands)					Surcharge	Bargaining	Employees
Pension Fund	Plan Number	2023	2022	Plan Status	2023		2022		2021		Imposed	Agreement	in Plan
Central States SE and ‎SW Areas Pension Fund	366044243	Red	Red	Implemented	$	115	$	127	$	150	No	3/31/2025	6
Steelworkers Pension Trust	236648508	Green	Green	Not applicable		—		—		—	No	Not applicable	—
					$	115	$	127	$	150

With the closure of the Company’s Dubuque, Iowa manufacturing facility, the collective bargaining agreement for the Steelworkers Pension Trust was terminated as of June 30, 2020. As of June 30, 2022, the Company had withdrawn from the Steelworkers Pension Trust and paid the previously recorded withdrawal liability of $1.2 million and recorded an expense reduction of $0.2 million for the year ended June 30, 2022, see Note 5 Restructuring.