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Employee Benefits (Tables)
12 Months Ended
Jun. 30, 2021
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, 2021 and 2020:

 

 

 

2021

 

 

2020

 

Service cost

 

$

0

 

 

$

0

 

Interest cost

 

 

40

 

 

 

47

 

Expected return on assets

 

 

(38

)

 

 

(34

)

Amortization of prior service cost

 

 

78

 

 

 

123

 

Settlement cost

 

 

0

 

 

 

0

 

Net pension expense

 

$

80

 

 

$

136

 

Weighted-average assumptions:

 

 

 

 

 

 

 

 

Discount rate

 

 

2.60

%

 

 

3.50

%

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, 2021 and 2020:

 

 

 

2021

 

 

2020

 

Change in Benefit Obligation:

 

 

 

 

 

 

 

 

Benefit obligation at beginning of year

 

$

1,574

 

 

$

1,390

 

Interest cost

 

 

40

 

 

 

47

 

Actuarial (gain) loss

 

 

(51

)

 

 

168

 

Benefits paid

 

 

(28

)

 

 

(31

)

Benefit obligation end of year

 

$

1,535

 

 

$

1,574

 

Change in Fair Value of Plan Assets:

 

 

 

 

 

 

 

 

Beginning fair value

 

$

923

 

 

$

827

 

Actual return (loss) on plan assets

 

 

85

 

 

 

(5

)

Employer contribution

 

 

100

 

 

 

132

 

Benefits paid

 

 

(28

)

 

 

(31

)

Plan assets at end of year

 

$

1,080

 

 

$

923

 

Funded status of the plans

 

 

(455

)

 

 

(651

)

Unrecognized actuarial loss

 

 

293

 

 

 

469

 

Accrued benefit cost

 

$

(162

)

 

$

(182

)

Amounts Recognized in Consolidated Balance Sheets

 

 

 

 

 

 

 

 

Accrued benefit cost

 

 

(162

)

 

 

(182

)

Accumulated other comprehensive loss*

 

 

293

 

 

 

469

 

Net amount recognized

 

$

(455

)

 

$

(651

)

 

*

Accumulated other comprehensive loss represents minimum pension liability adjustments.