Employee Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2015

The funded status of the Swiss Plan in the fiscal years ended June 30, 2015 and 2014 were as follows:

Year ended June 30,	2015			2014
Change in projected benefit obligation:
Projected benefit obligation, beginning of period		39,390		$	38,748
Service cost		2,791			3,375
Interest cost		744			812
Plan amendments		-			(1,661	)
Participant contributions		965			1,110
Benefits (paid) received		(1,279	)		(3,959	)
Actuarial (gain) loss on obligation		1,520			(867	)
Currency translation adjustment		(1,556	)		1,832
Projected benefit obligation, end of period	$	42,575		$	39,390
Change in plan assets:
Plan assets at fair value, beginning of period		31,965			30,167
Actual return on plan assets		207			776
Employer contributions		1,914			2,253
Participant contributions		965			1,110
Benefits (paid) received		(1,279	)		(3,959	)
Currency translation adjustment		(1,263	)		1,617
Plan assets at fair value, end of period	$	32,509		$	31,965
Amounts recognized in consolidated balance sheets:
Other non-current assets:
Deferred tax asset	$	2,129		$	1,570
Other non-current liabilities:
Underfunded pension liability	$	10,066			7,425
Amounts recognized in accumulated other comprehensive income, net of tax:
Pension adjustment	$	(2,244	)	$	1,443
Accumulated benefit obligation, end of period	$	38,734		$	35,581

Net periodic pension cost associated with the Swiss Plan included the following components:

Year ended June 30,	2015			2014
Service cost		2,791		$	3,375
Interest cost		744			812
Expected return on plan assets		(1,106	)		(1,338	)
Net amortization		-		-
Net period pension cost	$	2,429		$	2,849

The projected and accumulated benefit obligations for the Swiss Plan were calculated as of June 30, 2015 and 2014 using the following assumptions:

Year ended June 30,	2015			2014
Discount rate		1.1	%		2.0	%
Salary increase rate		2.0	%		2.0	%
Expected return on plan assets		3.5	%		3.5	%
Expected average remaining working life (in years)	13.1				13.1

The Swiss Plan is legally separate from II-VI, as are the assets of the plan. As of June 30, 2015, the Swiss Plan’s asset allocation was as follows:

Estimated future benefit payments under the Swiss Plan are estimated to be as follows: