Pension and retirement plan

6 Months Ended

Dec. 28, 2019

Pension and retirement plan

Pension and retirement plans

9. Pension plan

The Company has a noncontributory defined benefit pension plan that covers substantially all current or former U.S. employees (the “Plan”). Components of net periodic pension cost for the Plan were as follows:

	Second Quarters Ended				Six Months Ended
	December 28,		December 29,		December 28,		December 29,
	2019		2018		2019		2018
	(Thousands)
Service cost	$	3,786	$	3,734	$	7,572	$	7,468
Total net periodic pension cost within selling, general and administrative expenses		3,786		3,734		7,572		7,468
Interest cost		5,638		6,614		11,276		13,228
Expected return on plan assets		(12,667)		(13,301)		(25,335)		(26,602)
Amortization of prior service cost (credit)		535		(393)		1,069		(786)
Recognized net actuarial loss		3,677		2,535		7,314		5,070
Total net periodic pension benefit within other (expense) income, net		(2,817)		(4,545)		(5,676)		(9,090)
Net periodic pension cost (benefit)	$	969	$	(811)	$	1,896	$	(1,622)

The Company expects to make contributions to the Plan of $8.0 million during fiscal 2020. There were no contributions made during the first six months of fiscal 2020.