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BENEFIT PLANS
6 Months Ended
Aug. 16, 2014
BENEFIT PLANS  
BENEFIT PLANS

5.BENEFIT PLANS

 

The following table provides the components of net periodic benefit cost for the Company-sponsored defined benefit pension plans and other post-retirement benefit plans for the second quarters of 2014 and 2013.

 

 

 

Second Quarter Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

August 16,
2014

 

August 17,
2013

 

August 16,
2014

 

August 17,
2013

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

10

 

$

8

 

$

2

 

$

4

 

Interest cost

 

42

 

35

 

3

 

4

 

Expected return on plan assets

 

(56

)

(52

)

 

 

Amortization of:

 

 

 

 

 

 

 

 

 

Prior service cost

 

 

 

(2

)

(1

)

Actuarial loss

 

12

 

24

 

(1

)

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$

8

 

$

15

 

$

2

 

$

7

 

 

The following table provides the components of net periodic benefit cost for the Company-sponsored defined benefit pension plans and other post-retirement benefit plans for the first two quarters of 2014 and 2013.

 

 

 

Two Quarters Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

August 16,
2014

 

August 17,
2013

 

August 16,
2014

 

August 17,
2013

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

Service cost

 

$

24

 

$

23

 

$

6

 

$

9

 

Interest cost

 

98

 

83

 

7

 

9

 

Expected return on plan assets

 

(130

)

(121

)

 

 

Amortization of:

 

 

 

 

 

 

 

 

 

Prior service cost

 

 

 

(4

)

(2

)

Actuarial loss

 

28

 

55

 

(3

)

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost

 

$

20

 

$

40

 

$

6

 

$

16

 

 

The Company is not required and does not expect to make any contributions to the Company-sponsored defined benefit pension plans in 2014.

 

The Company contributed $98 and $80 to employee 401(k) retirement savings accounts in the first two quarters of 2014 and 2013, respectively.

 

The Company also contributes to various multi-employer pension plans based on obligations arising from most of its collective bargaining agreements. These plans provide retirement benefits to participants based on their service to contributing employers. The Company recognizes expense in connection with these plans as contributions are funded.

 

During the first quarter of 2014, the Company incurred a charge of $56 (after-tax) due to commitments and withdrawal liabilities arising from the restructuring of certain multi-employer pension plan obligations.