NOTE 8 – EMPLOYEE POST-EMPLOYMENT BENEFITS

We sponsor three defined benefit pension plans for active employees and offer certain postretirement benefits for retirees. A summary of each of these is presented below.

Retirement Plan

RTI sponsors the Morrison Restaurants Inc. Retirement Plan (the “Retirement Plan”). Effective December 31, 1987, the Retirement Plan was amended so that no additional benefits would accrue and no new participants may enter the Retirement Plan after that date. Participants receive benefits based upon salary and length of service.

Minimum funding for the Retirement Plan is determined in accordance with the guidelines set forth in employee benefit and tax laws. From time to time we may contribute additional amounts as we deem appropriate. We estimate that we will be required to make contributions totaling $0.1 million to the Retirement Plan during the remainder of fiscal year 2016.

Executive Supplemental Pension Plan and Management Retirement Plan

Under these unfunded defined benefit pension plans, eligible employees earn supplemental retirement income based upon salary and length of service, reduced by social security benefits and amounts otherwise receivable under other specified Company retirement plans. Effective June 1, 2001, the Management Retirement Plan was amended so that no additional benefits would accrue and no new participants may enter the plan after that date. In December 2015, the Executive Supplemental Pension Plan was similarly amended effective as of January 1, 2016 for current participants, and as of January 1, 2018 for two specified potential participants, who are currently not named executive officers. We do not expect this amendment to have a material impact on our Condensed Consolidated Financial Statements.

Included in our Condensed Consolidated Balance Sheets as of December 1, 2015 and June 2, 2015 are amounts within Accrued liabilities: Payroll and related costs of $3.2 million as of both dates and amounts within Other deferred liabilities of $34.7 million and $33.9 million, respectively, relating to our three defined benefit pension plans.

Postretirement Medical and Life Benefits

Our Postretirement Medical and Life Benefits plans provide medical and life insurance benefits to certain retirees. The medical plan requires retiree cost sharing provisions that are more substantial for employees who retire after January 1, 1990.

The following tables detail the components of net periodic benefit costs and the amounts recognized in our Condensed Consolidated Financial Statements for the Retirement Plan, Management Retirement Plan, and the Executive Supplemental Pension Plan (collectively, the “Pension Plans”) and the Postretirement Medical and Life Benefits plans (in thousands):

	Pension Plans
	Thirteen weeks ended						Twenty-six weeks ended
	December 1,			December 2,			December 1,			December 2,
	2015			2014			2015			2014
Service cost	$	42		$	75		$	272		$	150
Interest cost		441			444			1,040			887
Expected return on plan assets		(102	)		(125	)		(205	)		(249	)
Recognized actuarial loss		473			430			1,101			860
Net periodic benefit cost	$	854		$	824		$	2,208		$	1,648

	Postretirement Medical and Life Benefits
	Thirteen weeks ended				Twenty-six weeks ended
	December 1,		December 2,		December 1,		December 2,
	2015		2014		2015		2014
Service cost	$	1	$	1	$	2	$	2
Interest cost		12		11		24		23
Recognized actuarial loss		33		34		65		67
Net periodic benefit cost	$	46	$	46	$	91	$	92

We reclassified recognized actuarial losses of $0.5 million and $1.2 million during the 13 and 26 weeks ended December 1, 2015, respectively, and $0.5 million and $0.9 million during the 13 and 26 weeks ended December 2, 2014, respectively, out of accumulated other comprehensive loss and into pension expense, which is included in Selling, general and administrative, net within our Condensed Consolidated Statements of Operations and Comprehensive Loss.

Accumulated other comprehensive loss in our Condensed Consolidated Balance Sheets as of December 1, 2015 and June 2, 2015 was $10.5 million and $10.9 million, respectively. The change in accumulated other comprehensive loss during the 26 weeks ended December 1, 2015 was attributable to $1.2 million of recognized actuarial losses as discussed above which were offset by $0.7 million of additional liability related to our pension plans.

We also sponsor two defined contribution retirement savings plans. Information regarding these plans is included in our Annual Report on Form 10-K for the fiscal year ended June 2, 2015.