BENEFIT PLANS

6 Months Ended

Aug. 15, 2020

BENEFIT PLANS

BENEFIT PLANS

3. 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 2020 and 2019.

	Second Quarter Ended
	Pension Benefits				Other Benefits
	August 15,		August 17,		August 15,		August 17,
	2020		2019		2020		2019
Components of net periodic benefit cost:
Service cost	$	3	$	7	$	1	$	2
Interest cost		26		32		1		2
Expected return on plan assets		(39)		(41)		—		—
Amortization of:
Prior service cost		—		—		(2)		(2)
Actuarial loss (gain)		8		15		(2)		(2)
Net periodic benefit cost	$	(2)	$	13	$	(2)	$	—

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 2020 and 2019.

	Two Quarters Ended
	Pension Benefits				Other Benefits
	August 15,		August 17,		August 15,		August 17,
	2020		2019		2020		2019
Components of net periodic benefit cost:
Service cost	$	7	$	17	$	3	$	4
Interest cost		60		73		3		4
Expected return on plan assets		(91)		(97)		—		—
Amortization of:
Prior service cost		—		—		(6)		(5)
Actuarial loss (gain)		19		31		(4)		(5)
Net periodic benefit cost	$	(5)	$	24	$	(4)	$	(2)

The Company is not required to make any contributions to its company-sponsored pension plans in 2020, but may make contributions to the extent such contributions are beneficial to the Company. The Company did not make any contributions to its company-sponsored pension plans in the first two quarters of 2020 and 2019.

The Company contributed $161 and $149 to employee 401(k) retirement savings accounts in the first two quarters of 2020 and 2019, 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. In addition to the recurring multi-employer pension contributions the Company makes in the normal course of business, in the first quarter of 2020, the Company contributed an incremental $236, $180 net of tax, to multi-employer pension plans, helping stabilize future associate benefits.

During the second quarter of 2020, the Company reached a tentative agreement with certain UFCW local unions to withdraw from the UFCW International Union-Industry Pension Fund (“National Fund”). The agreement is expected to be approved in the third quarter of 2020. Upon ratification, the Company expects to incur a withdrawal liability charge of $962, on a pre-tax basis, to fulfill obligations for past service for associates and retirees in the National Fund. The Company also expects to make a $27 contribution to a transition reserve in the new variable annuity pension plan. On an after-tax basis, the withdrawal liability and contribution to the transition reserve total approximately $760. This withdrawal liability would be satisfied by installment payments to the National Fund over the next three years.

During the first two quarters of 2019, the Company incurred charges totaling $86, $66 net of tax, due to obligations related to withdrawal liabilities for certain multi-employer pension funds. The charges were recorded in the OG&A caption in the Consolidated Statements of Operations.

Additionally, during the second quarter of 2019, the Company sold an unused warehouse. The gain on the sale was used to contribute a similar amount into the UFCW Consolidated Pension Plan.