Quarterly report pursuant to Section 13 or 15(d)

Supplemental Retirement Plan and Related Post Retirement Benefits

v3.20.2
Supplemental Retirement Plan and Related Post Retirement Benefits
 6 Months Ended
Jun. 27, 2020
Retirement Benefits [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) June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019
Service Cost $ 111    $ 91    $ 56    $ 46   
Interest Cost 418    458    209    229   
Amortization of Prior Service Cost 193    193    96    96   
Amortization of Net Actuarial Losses 324    150    162    75   
Net Periodic Cost $ 1,046    $ 892    $ 523    $ 446   
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) June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019
Service Cost $ 7    $ 7    $ 3    $ 4   
Interest Cost 17    23    8    11   
Amortization of Prior Service Cost 8    8    4    4   
Amortization of Net Actuarial Losses 20    21    11    11   
Net Periodic Cost $ 52    $ 59    $ 26    $ 30   
The service cost component of net periodic benefit costs above is recorded in Selling, General and Administrative Expenses within the Consolidated Condensed Statements of Operations, while the remaining components are recorded to Other Expense, Net of Other Income.