Quarterly report pursuant to Section 13 or 15(d)

Supplemental Retirement Plan and Related Post Retirement Benefits

v2.4.0.8
Supplemental Retirement Plan and Related Post Retirement Benefits
6 Months Ended
Jun. 29, 2013
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.

 

     Six Months Ended      Three Months Ended  
(In thousands)    June 29,
2013
     June 30,
2012
     June 29,
2013
     June 30,
2012
 

Service cost

   $ 148       $ 128       $ 74       $ 88   

Interest cost

     310         252         155         147   

Amortization of prior service cost

     248         181         124         122   

Amortization of net actuarial losses

     64         46         32         23   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net periodic cost

   $ 770       $ 607       $ 385       $ 380   
  

 

 

    

 

 

    

 

 

    

 

 

 

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 29,
2013
     June 30,
2012
     June 29,
2013
     June 30,
2012
 

Service cost

   $ 2       $ 1       $ 1       $ —     

Interest cost

     12         12         6         6   

Amortization of prior service cost

     12         13         6         7   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net periodic cost

   $ 26       $ 26       $ 13       $ 13