Quarterly report pursuant to Section 13 or 15(d)

Supplemental Retirement Plan and Related Post Retirement Benefits

v2.4.1.9
Supplemental Retirement Plan and Related Post Retirement Benefits
3 Months Ended
Apr. 04, 2015
Compensation and Retirement Disclosure [Abstract]  
Supplemental Retirement Plan and Related Post Retirement Benefits

12) Supplemental Retirement Plan and Related Post Retirement Benefits

The Company has two non-qualified supplemental retirement defined benefit plans (“SERP” and “SERP II”) for certain executive officers. The following table sets forth information regarding the net periodic pension cost for the plans.

 

     Three Months Ended  
(In thousands)    April 4,
2015
     March 29,
2014
 

Service cost

   $ 48       $ 62   

Interest cost

     211         188   

Amortization of prior service cost

     124         130   

Amortization of net actuarial losses

     112         27   
  

 

 

    

 

 

 

Net periodic cost

$ 495    $ 407   
  

 

 

    

 

 

 

Participants in the SERP are entitled to paid medical, dental and long-term care insurance benefits upon retirement under the plan. The following table sets forth information regarding the net periodic cost recognized for those benefits:

 

     Three Months Ended  
(In thousands)    April 4,
2015
     March 29,
2014
 

Service cost

   $ 2       $ 1   

Interest cost

     10         8   

Amortization of prior service cost

     6         6   

Amortization of net actuarial losses

     6         —     
  

 

 

    

 

 

 

Net periodic cost

$ 24    $ 15