Quarterly report pursuant to Section 13 or 15(d)

Supplemental Retirement Plan and Related Post Retirement Benefits

v3.7.0.1
Supplemental Retirement Plan and Related Post Retirement Benefits
 3 Months Ended
Apr. 01, 2017
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. 
 
Three Months Ended
(In thousands)
April 1,
2017
 
April 2,
2016
Service Cost
$
46

 
$
44

Interest Cost
224

 
225

Amortization of Prior Service Cost
97

 
104

Amortization of Net Actuarial Losses
93

 
86

Net Periodic Cost
$
460

 
$
459


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 1,
2017
 
April 2,
2016
Service Cost
$
2

 
$
1

Interest Cost
10

 
11

Amortization of Prior Service Cost
4

 
6

Amortization of Net Actuarial Losses
8

 
5

Net Periodic Cost
$
24

 
$
23