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Benefit Plans | 6 Months Ended
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Jul. 03, 2016
Compensation And Retirement Disclosure [Abstract] |
Benefit Plans | 16. Benefit Plans Pension Plans All benefits under the primary Company-sponsored pension plan were frozen in 2006 and no benefits have accrued to participants after this date. The Company also sponsors a pension plan for certain employees under collective bargaining agreements. Benefits under the pension plan for collectively bargained employees are determined in accordance with negotiated formulas for the respective participants. Contributions to the plans are based on actuarial determined amounts and are limited to the amounts currently deductible for income tax purposes. The components of net periodic pension cost were as follows:
|  | Second Quarter |  |  | First Half |
In Thousands |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Service cost |  | $ | 29 |  |  | $ | 35 |  |  | $ | 57 |  |  | $ | 70 |
Interest cost |  |  | 3,031 |  |  |  | 2,973 |  |  |  | 6,062 |  |  |  | 5,947 |
Expected return on plan assets |  |  | (3,458 | ) |  |  | (3,386 | ) |  |  | (6,916 | ) |  |  | (6,774 | )
Amortization of prior service cost |  |  | 7 |  |  |  | 9 |  |  |  | 14 |  |  |  | 18 |
Recognized net actuarial loss |  |  | 741 |  |  |  | 795 |  |  |  | 1,482 |  |  |  | 1,591 |
Net periodic pension cost |  | $ | 350 |  |  | $ | 426 |  |  | $ | 699 |  |  | $ | 852 |
The Company did not make contributions to the Company-sponsored pension plans during YTD 2016. Anticipated contributions for the two Company-sponsored pension plans will be in the range of $10 million to $12 million during the remainder of 2016. Postretirement Benefits The Company provides postretirement benefits for a portion of its current employees. The Company recognizes the cost of postretirement benefits, which consist principally of medical benefits, during employees’ periods of active service. The Company does not pre-fund these benefits and has the right to modify or terminate certain of these benefits in the future. The components of net periodic postretirement benefit cost were as follows:
|  | Second Quarter |  |  | First Half |
In Thousands |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Service cost |  | $ | 350 |  |  | $ | 325 |  |  | $ | 700 |  |  | $ | 650 |
Interest cost |  |  | 777 |  |  |  | 707 |  |  |  | 1,555 |  |  |  | 1,415 |
Recognized net actuarial loss |  |  | 588 |  |  |  | 718 |  |  |  | 1,175 |  |  |  | 1,435 |
Amortization of prior service cost |  |  | (840 | ) |  |  | (840 | ) |  |  | (1,680 | ) |  |  | (1,680 | )
Net periodic postretirement benefit cost |  | $ | 875 |  |  | $ | 910 |  |  | $ | 1,750 |  |  | $ | 1,820 |
Multi-Employer Benefits Certain employees of the Company participate in a multi-employer pension plan, the Employers-Teamsters Local Union Nos. 175 and 505 Pension Fund (the “Plan”), to which the Company makes monthly contributions on behalf of such employees. The Plan was certified by the Plan’s actuary as being in “critical” status for the plan year beginning January 1, 2013. As a result, the Plan adopted a “Rehabilitation Plan” effective January 1, 2015. The Company agreed and incorporated such agreement in the renewal of the collective bargaining agreement with the union, effective April 28, 2014, to participate in the Rehabilitation Plan. The Company increased its contribution rates to the Plan effective January 2015 with additional increases occurring annually to support the Rehabilitation Plan. There would likely be a withdrawal liability in the event the Company withdraws from its participation in the Plan. The Company’s withdrawal liability was reported by the Plan’s actuary to be approximately $4.5 million. The Company does not currently anticipate withdrawing from the Plan.

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