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Retirement Plans (Tables)
12 Months Ended
Mar. 26, 2021
Retirement Benefits [Abstract]  
Schedule of Expense Related to Defined Benefit Plan
Expense related to the non-U.S. defined benefit plan was as follows:
Fiscal Year Ended
March 26,
2021
March 27,
2020
Service cost$1,454 $961 
Interest cost628 674 
Expected return on plan assets(299)(331)
Amortization of net transition asset(1)(14)
Amortization of prior service cost
Actuarial loss179 96 
Net periodic pension expense$1,969 $1,394 
Changes in Benefit Obligations and Plan Assets
Changes in the benefit obligations and plan assets for the non-U.S. defined benefit plan were as follows:
Fiscal Year Ended
March 26, 2021March 27, 2020
Obligation and funded status of plan:
Benefit obligation at beginning of year$12,595 $10,840 
Service cost1,454 961 
Interest cost628 674 
Benefits paid(633)(938)
Actuarial loss2,502 690 
Foreign currency exchange rate changes634 368 
Benefit obligation at end of year$17,180 $12,595 
Change in plan assets:
Fair value of plan assets at beginning of year$5,579 $5,171 
Actual return on plan assets1,421 434 
Employer contributions981 932 
Benefits paid(595)(1,130)
Foreign currency exchange rate changes258 172 
Fair value of plan assets at end of year$7,644 $5,579 
Underfunded status at end of year$(9,536)$(7,016)
Obligations and Asset Information for Plan with Projected Benefit Obligation in Excess of Plan Assets
The following table presents the obligations and asset information for the non-U.S. defined benefit plan that has a projected benefit obligation in excess of plan assets:
Fiscal Year Ended
March 26, 2021March 27, 2020
Projected benefit obligations$17,180 $12,595 
Plan assets7,644 5,579 
Accumulated benefit obligations10,353 7,818 
Schedule of Amounts Recorded for AOCI for Defined Benefit Plan
The amounts recorded in AOCI for the non-U.S. defined benefit plan for the fiscal years ended March 26, 2021 and March 27, 2020 are further detailed below:
Net Transition Obligation (Asset)Net Actuarial LossPrior Service CostsTotal
Balance, March 29, 2019, net of tax$75 $1,617 11 $1,703 
2020 change in AOCI for non-U.S. defined benefit plan244 1,264 (3)1,505 
Amounts in AOCI before tax319 2,881 3,208 
Less tax expense95 864 962 
Balance, March 27, 2020, net of tax224 2,017 2,246 
2021 change in AOCI for non-U.S. defined benefit plan74 2,242 (4)2,312 
Amounts in AOCI before tax298 4,259 4,558 
Less tax expense74 1,066 — 1,140 
Balance, March 26, 2021, net of tax$224 $3,193 $$3,418 
Schedule of Weighted-Average Assumptions
Weighted-Average Assumptions Used to Determine Projected Benefit Obligation
March 26, 2021March 27, 2020
Non-U.S. assumed discount rate4.00 %4.98 %
Non-U.S. rate of compensation increase5.00 %5.00 %
Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
March 26, 2021March 27, 2020
Non-U.S. assumed discount rate4.00 %4.98 %
Non-U.S. expected long-term return on plan assets4.20 %5.20 %
Non-U.S. rate of compensation increase5.00 %5.00 %
Fair Value of Entity's Plan Assets The table below sets forth the fair value of the entity’s plan assets as of March 26, 2021 and March 27, 2020, using the same three-level hierarchy of fair value inputs described in Note 2, “Summary of Significant Accounting Policies”:
Fair Value at March 26,
2021
Level 1Level 2Level 3
Assets of non-U.S. defined benefit plan:
Government securities$1,646 $1,646 $— $— 
Unit investment trust fund1,221 — 1,221 — 
Loans584 — — 584 
Bonds1,112 — 1,112 — 
Stocks and other investments3,081 1,947 1,133 
Total$7,644 $3,593 $2,334 $1,717 

Fair Value at March 27,
2020
Level 1Level 2Level 3
Assets of non-U.S. defined benefit plan:
Government securities$1,260 $1,260 $— $— 
Unit investment trust fund897 — 897 — 
Loans756 — — 756 
Bonds1,094 — 1,094 — 
Stocks and other investments1,572 1,207 364 
Total$5,579 $2,467 $1,992 $1,120 
Schedule of Changes in Fair Value of Level 3 Plan Assets
The following table shows the change in fair value of Level 3 plan assets for the fiscal years ended March 26, 2021 and March 27, 2020:
Level 3 Non-U.S. Defined
Plan Assets
LoansStocks
Balance at March 29, 2019$760 $353 
Additions during the year271 — 
Redemptions during the year(300)— 
Change in foreign currency exchange rates25 11 
Balance at March 27, 2020$756 $364 
Additions during the year325 — 
Redemptions during the year(531)— 
Revaluation of equity securities— 753 
Change in foreign currency exchange rates34 16 
Balance at March 26, 2021$584 $1,133 
Schedule of Estimated Future Benefit Payments
The following table projects the benefits expected to be paid to participants from the plans in each of the following fiscal years. The majority of the payments will be paid from plan assets, not company assets.
Pension
Benefits
2022$1,436 
20231,575 
2024927 
2025995 
2026980 
Thereafter7,786 
Total$13,699