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BENEFIT PLANS
 9 Months Ended
Nov. 10, 2018
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 2018 and 2017.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Third Quarter Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

November 10,

 

November 4,

 

November 10,

 

November 4,

 

 

    

2018

    

2017

    

2018

    

2017

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

 8

 

$

 —

 

$

 2

 

$

 2

 

Interest cost 

 

 

31

 

 

42

 

 

 2

 

 

 3

 

Expected return on plan assets 

 

 

(40)

 

 

(54)

 

 

 —

 

 

 —

 

Amortization of: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 —

 

 

 —

 

 

(3)

 

 

(2)

 

Actuarial loss (gain)

 

 

18

 

 

19

 

 

(2)

 

 

(2)

 

Curtailment

 

 

 —

 

 

 1

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

17

 

$

 8

 

$

(1)

 

$

 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 2018 and 2017.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Quarters Ended

 

 

 

Pension Benefits

 

Other Benefits

 

 

 

November 10,

 

November 4,

 

November 10,

 

November 4,

 

 

    

2018

    

2017

    

2018

    

2017

 

Components of net periodic benefit cost: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost 

 

$

29

 

$

42

 

$

 6

 

$

 7

 

Interest cost 

 

 

104

 

 

140

 

 

 6

 

 

 8

 

Expected return on plan assets 

 

 

(134)

 

 

(182)

 

 

 —

 

 

 —

 

Amortization of: 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost 

 

 

 —

 

 

 —

 

 

(9)

 

 

(6)

 

Actuarial loss (gain)

 

 

59

 

 

65

 

 

(7)

 

 

(7)

 

Curtailment

 

 

 —

 

 

 3

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net periodic benefit cost 

 

$

58

 

$

68

 

$

(4)

 

$

 2

 

 

Although,  the Company is not required to make any contributions to its company-sponsored pension plans in 2018, in the third quarter of 2018, the Company contributed $185,  $117 net of tax, to the company-sponsored pension plan. This contribution was designated to the 2017 tax year in order to deduct the contributions at the previous year tax rate.    In the third quarter of 2017, the Company contributed $1,000 to the company-sponsored pension plans.

 

During the fourth quarter of 2018, the Company announced changes to certain non-union company-sponsored pension plans. See Note 12 for further discussion related to benefit plan changes.

 

The Company contributed $204 and $173 to employee 401(k) retirement savings accounts in the first three quarters of 2018 and 2017, 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.