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Employee Benefits (Tables)
12 Months Ended
Jun. 30, 2020
Postemployment Benefits [Abstract]  
Components of Net Pension Expense for All Plans

The components of net pension expense for all plans (comprised solely of one domestic plan) were as follows for the fiscal years ended June 30, 2020 and 2019:

 

 

 

2020

 

 

2019

 

Service cost

 

$

0

 

 

$

0

 

Interest cost

 

 

47

 

 

 

56

 

Expected return on assets

 

 

(34

)

 

 

(36

)

Amortization of prior service cost

 

 

123

 

 

 

78

 

Settlement cost

 

 

0

 

 

 

39

 

Net pension expense

 

$

136

 

 

$

137

 

Weighted-average assumptions:

 

 

 

 

 

 

 

 

Discount rate

 

 

3.50

%

 

 

4.10

%

Expected return on plan assets

 

 

4.00

%

 

 

4.00

%

Rate of compensation increase

 

 

0.00

%

 

 

0.00

%

Summary Information for Plans (Comprised Solely of One Domestic Plan)

Summary information for the plans (comprised solely of one domestic plan) is as follows for the fiscal years ended June 30, 2020 and 2019:

 

 

 

2020

 

 

2019

 

Change in Benefit Obligation:

 

 

 

 

 

 

 

 

Benefit obligation at beginning of year

 

$

1,390

 

 

$

1,420

 

Interest cost

 

 

47

 

 

 

56

 

Actuarial loss

 

 

168

 

 

 

90

 

Benefits paid

 

 

(31

)

 

 

(176

)

Benefit obligation end of year

 

$

1,574

 

 

$

1,390

 

Change in Fair Value of Plan Assets:

 

 

 

 

 

 

 

 

Beginning fair value

 

$

827

 

 

$

895

 

Actual return (loss) on plan assets

 

 

(5

)

 

 

1

 

Employer contribution

 

 

132

 

 

 

107

 

Benefits paid

 

 

(31

)

 

 

(176

)

Plan assets at end of year

 

$

923

 

 

$

827

 

Funded status of the plans

 

 

(651

)

 

 

(563

)

Unrecognized actuarial loss

 

 

469

 

 

 

384

 

Accrued benefit cost

 

$

(182

)

 

$

(179

)

Amounts Recognized in Consolidated Balance Sheets

 

 

 

 

 

 

 

 

Accrued benefit cost

 

 

(182

)

 

 

(179

)

Accumulated other comprehensive loss*

 

 

469

 

 

 

384

 

Net amount recognized

 

$

(651

)

 

$

(563

)

 

*

Accumulated other comprehensive loss represents minimum pension liability adjustments.