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BENEFIT PLANS
9 Months Ended
Nov. 05, 2016
BENEFIT PLANS  
BENEFIT PLANS

 

4.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 third quarters of 2016 and 2015.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

November 5,

 

November 7,

 

November 5,

 

November 7,

 

 

    

2016

    

2015

    

2016

    

2015

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

14

 

$

15

 

$

2

 

$

2

 

Interest cost 

 

 

44

 

 

37

 

 

2

 

 

2

 

Expected return on plan assets 

 

 

(55)

 

 

(52)

 

 

 —

 

 

 —

 

Amortization of: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 —

 

 

 —

 

 

(2)

 

 

(2)

 

Actuarial loss (gain)

 

 

16

 

 

23

 

 

(2)

 

 

(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

19

 

$

23

 

$

 —

 

$

1

 

 

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 three quarters of 2016 and 2015.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Quarters Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

November 5,

 

November 7,

 

November 5,

 

November 7,

 

 

    

2016

    

2015

    

2016

    

2015

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

50

 

$

50

 

$

7

 

$

8

 

Interest cost 

 

 

145

 

 

127

 

 

8

 

 

8

 

Expected return on plan assets 

 

 

(183)

 

 

(176)

 

 

 —

 

 

 —

 

Amortization of: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 —

 

 

 —

 

 

(6)

 

 

(8)

 

Actuarial loss (gain)

 

 

50

 

 

78

 

 

(7)

 

 

(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

62

 

$

79

 

$

2

 

$

4

 

 

The Company is not required and does not expect to make any contributions to its Company-sponsored defined benefit pension plans in 2016.  The Company contributed $5 to its Company-sponsored defined benefit pension plans in the first three quarters of 2015.

 

The Company contributed $167 and $152 to employee 401(k) retirement savings accounts in the first three quarters of 2016 and 2015, 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 second quarter of 2016, the Company incurred a charge of $111,  $71 net of tax, due to commitments arising from the restructuring of certain multi-employer pension plan obligations during the second quarter of 2016.

 

During the third quarter of 2015, the Company contributed $80 to the United Food and Commercial Workers International Union (“UFCW”) Consolidated Pension Plan, which was recognized as expense.