Quarterly report pursuant to Section 13 or 15(d)

Supplemental Retirement Plan and Related Post Retirement Benefits

v3.2.0.727
Supplemental Retirement Plan and Related Post Retirement Benefits
6 Months Ended
Jul. 04, 2015
Compensation and Retirement Disclosure [Abstract]  
Supplemental Retirement Plan and Related Post Retirement Benefits
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.
 
 
Six Months Ended
 
Three Months Ended
(In thousands)
July 4,
2015
 
June 28,
2014
 
July 4,
2015
 
June 28,
2014
Service Cost
$
97

 
$
124

 
$
48

 
$
62

Interest Cost
422

 
376

 
211

 
188

Amortization of Prior Service Cost
247

 
260

 
124

 
130

Amortization of Net Actuarial Losses
225

 
54

 
112

 
27

Net Periodic Cost
$
991

 
$
814

 
$
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:
 
 
Six Months Ended
 
Three Months Ended
(In thousands)
July 4,
2015
 
June 28,
2014
 
July 4,
2015
 
June 28,
2014
Service Cost
$
3

 
$
1

 
$
2

 
$
1

Interest Cost
19

 
16

 
10

 
8

Amortization of Prior Service Cost
13

 
12

 
6

 
6

Amortization of Net Actuarial Losses
12

 

 
7

 

Net Periodic Cost
$
47

 
$
29

 
$
25

 
$
15