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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 28, 2017
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 28, 2017 and December 29, 2016 measurement dates is as follows:
 
 
 
December 28,
2017
 
December 29,
2016
 
 
 
(in thousands)
 
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation at beginning of period
 
$
32,523
 
$
31,671
 
Service cost
 
 
765
 
 
865
 
Interest cost
 
 
1,356
 
 
1,406
 
Actuarial loss
 
 
4,244
 
 
82
 
Curtailment
 
 
-
 
 
(261)
 
Benefits paid
 
 
(1,249)
 
 
(1,240)
 
Benefit obligation at end of year
 
$
37,639
 
$
32,523
 
 
 
 
 
 
 
 
 
Amounts recognized in the statement of financial position consist of:
 
 
 
 
 
 
 
Current accrued benefit liability (included in Other accrued liabilities)
 
$
(1,347)
 
$
(1,252)
 
Noncurrent accrued benefit liability (included in Deferred compensation and other)
 
 
(36,292)
 
 
(31,271)
 
Total
 
$
(37,639)
 
$
(32,523)
 
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive loss consist of:
 
 
 
 
 
 
 
Net actuarial loss
 
$
12,874
 
$
9,049
 
Prior service credit
 
 
(579)
 
 
(642)
 
Total
 
$
12,295
 
$
8,407
 
Schedule of Net Periodic Benefit Cost Not yet Recognized
 
 
Year Ended
 
31 Weeks
Ended
 
Year Ended
 
 
 
December 28,
2017
 
December 29,
2016
 
December 31,
2015
 
May 28,
2015
 
 
 
(in thousands)
 
Net periodic pension cost:
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
 
$
765
 
$
865
 
$
459
 
$
697
 
Interest cost
 
 
1,356
 
 
1,406
 
 
765
 
 
1,243
 
Net amortization of prior service cost and actuarial loss
 
 
356
 
 
364
 
 
211
 
 
326
 
Curtailment gain
 
 
-
 
 
(251)
 
 
 
 
 
 
 
$
2,477
 
$
2,384
 
$
1,435
 
$
2,266
 
Schedule of Assumptions Used
The weighted-average assumptions used to determine the benefit obligations as of the measurement dates were as follows:
 
 
 
December 28, 2017
 
December 29, 2016
 
Discount rate
 
 
3.60
%
 
4.15
%
Rate of compensation increase
 
 
4.00
%
 
4.00
%
 
The weighted-average assumptions used to determine net periodic benefit cost were as follows:
 
 
 
Year Ended
 
31 Weeks
Ended
 
 
 
 
 
 
December 28,
2017
 
December 29,
2016
 
December 31,
2015
 
Year Ended
May 28, 2015
 
Discount rate
 
 
4.15
%
 
4.40
%
 
4.20
%
 
4.30
%
Rate of compensation increase
 
 
4.00
%
 
4.00
%
 
4.00
%
 
4.00
%
Schedule of Expected Benefit Payments
Benefit payments expected to be paid subsequent to December 28, 2017, are:
 
Fiscal Year
 
(in thousands)
 
2018
 
$
1,347
 
2019
 
 
1,480
 
2020
 
 
1,453
 
2021
 
 
1,476
 
2022
 
 
1,497
 
Years 2023 – 2027
 
 
11,045