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
 6 Months Ended
Jul. 01, 2017
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)
July 1,
2017
 
July 2,
2016
 
July 1,
2017
 
July 2,
2016
Service Cost
$
92

 
$
86

 
$
46

 
$
43

Interest Cost
448

 
450

 
224

 
225

Amortization of Prior Service Cost
194

 
207

 
97

 
103

Amortization of Net Actuarial Losses
186

 
172

 
93

 
86

Net Periodic Cost
$
920

 
$
915

 
$
460

 
$
457


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 1,
2017
 
July 2,
2016
 
July 1,
2017
 
July 2,
2016
Service Cost
$
4

 
$
2

 
$
2

 
$
1

Interest Cost
20

 
20

 
10

 
10

Amortization of Prior Service Cost
8

 
12

 
5

 
6

Amortization of Net Actuarial Losses
15

 
11

 
6

 
6

Net Periodic Cost
$
47

 
$
45

 
$
23

 
$
23