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Retirement Benefits | 12 Months Ended
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Dec. 30, 2023
Retirement Benefits [Abstract] |
Retirement Benefits | Retirement Benefits The Corporation has defined contribution retirement plans covering substantially all members. The Corporation’s contribution to the plans is based on member eligible earnings and/or member contributions. A portion of the contribution is also based on results of operations, and a portion is contributed in the form of common stock of the Corporation. Cash contributions by the Corporation are primarily made each payroll period, concurrent with member contributions. Stock contributions to member retirement plans are typically made in the following year. The following table includes the Corporation’s contributions related to the respective annual period:
| 2023 |  | 2022 |  | 2021
Stock contribution | $ | 3.9 |  |  | $ | 5.1 |  |  | $ | 7.1 |
Cash contribution | 25.9 |  |  | 25.1 |  |  | 17.8 |
Total annual contribution | $ | 29.8 |  |  | $ | 30.1 |  |  | $ | 25.0 |
In 2023, the Corporation made a cash contribution of $4.8 million to the retirement plans of Kimball International members, related to the period of July 2022 through June 2023. As discussed in "Note 9. Fair Value Measurements of Financial Instruments," the Corporation assumed a SERP for certain executive members of Kimball International. This plan enables members to defer their cash compensation on a pre-tax basis in excess of IRS limitations. The Corporation made an immaterial contribution to the SERP in 2023.

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- Definition The entire disclosure for postemployment benefits, which may include supplemental unemployment benefits, obligations recognized for all types of benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement. Disclosure may also include discussion that an obligation for postemployment benefits is not accrued in accordance with regulation only because the amount cannot be reasonably estimated. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 712 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//712/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 712 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481565/712-10-50-2 + Details
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