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Retirement Plans
 6 Months Ended
Mar. 31, 2013
Text Block [Abstract]  
Retirement Plans
Retirement Plans
The Company has a Noncontributory Defined Benefit Pension Plan (the “Plan”) covering substantially all non-union employees. The Plan provides for benefits based on an employee’s compensation during the eligibility period while employed with the Company. The Company’s funding policy for the Plan is to contribute annually at a rate that is intended to provide sufficient assets to meet future benefit payment requirements. The Plan’s investments are recorded at fair value and include cash, which earns interest, governmental securities and corporate bonds and securities.
The following table provides the components of net periodic pension expense:
 
 
Thirteen Weeks Ended

Twenty-Six Weeks Ended
 
Mar 25,
2012
 
Mar 31,
2013
 
Mar 25,
2012
 
Mar 31,
2013
 
(in thousands)
Expected return on assets
$
(1,023
)
 
$
(1,176
)
 
$
(2,047
)
 
$
(2,352
)
Service cost
976

 
1,229

 
1,951

 
2,458

Interest cost
1,091

 
1,115

 
2,183

 
2,229

Amortization of prior service cost
1

 
1

 
2

 
2

Amortization of recognized losses
529

 
725

 
1,057

 
1,451

Net pension expense
$
1,574

 
$
1,894

 
$
3,146

 
$
3,788

Actuarial assumptions used to determine net pension expense were:
 
 
 
 
 
 
 
Discount rate
4.50
%
 
3.70
%
 
4.50
%
 
3.70
%
Rate of increase in compensation levels
3.00
%
 
3.00
%
 
3.00
%
 
3.00
%
Expected long-term rate of return on assets
6.50
%
 
6.00
%
 
6.50
%
 
6.00
%


The Company contributed approximately $1.6 million to the Plan in the twenty-six weeks ended March 31, 2013 and the Company expects to contribute $5.9 million during the remainder of fiscal 2013.