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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 30, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Changes in Projected Benefit Obligations
The status of the Company’s unfunded nonqualified, defined-benefit and account-based retirement plan based on the respective December 30, 2021 and December 31, 2020 measurement dates is as follows:
December 30,
2021
December 31,
2020
Change in benefit obligation:  
Benefit obligation at beginning of period$48,604 $43,824 
Service cost1,122 1,095 
Interest cost1,201 1,371 
Actuarial (gain) loss(2,630)3,806 
Benefits paid(1,470)(1,492)
Benefit obligation at end of year$46,827 $48,604 
Amounts recognized in the statement of financial position consist of:
Current accrued benefit liability (included in Other accrued liabilities)$(1,674)$(1,401)
Noncurrent accrued benefit liability (included in Other long-term obligations)(45,153)(47,203)
Total$(46,827)$(48,604)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss$15,120 $19,125 
Prior service credit(323)(387)
Total$14,797 $18,738 
Schedule of Net Periodic Pension Cost
Year Ended
December 30, 2021December 31, 2020December 26, 2019
Net periodic pension cost:   
Service cost$1,122 $1,095 $833 
Interest cost1,201 1,371 1,485 
Net amortization of prior service cost and actuarial loss1,311 990 436 
$3,634 $3,456 $2,754 
Schedule of pre-tax change in the benefit obligation
The pre-tax change in the benefit obligation recognized in other comprehensive loss was as follows:
Year Ended
December 30, 2021December 31, 2020
(in thousands)
Net actuarial (gain) loss$(2,630)3,806
Amortization of the net actuarial loss(1,375)(1,055)
Amortization of the prior year service credit6464
Total$(3,941)2,815
Schedule of Assumptions Used
The weighted-average assumptions used to determine the benefit obligations as of the measurement dates were as follows:
December 30, 2021December 31, 2020
Discount rate
2.85%
2.45%
Rate of compensation increase
4.00%
4.00%
The weighted-average assumptions used to determine net periodic benefit cost were as follows:
Year Ended
December 30, 2021December 31, 2020December 26, 2019
Discount rate
2.45%
3.10%
4.15%
Rate of compensation increase
4.00%
4.00%
4.00%
Schedule of Expected Benefit Payments
Benefit payments expected to be paid subsequent to December 30, 2021, are as follows:
Fiscal Year
2022$1,697 
20231,759 
20241,975 
20252,204 
20262,357 
Years 2026 – 203015,043