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Retirement Plan (Tables)
12 Months Ended
Jun. 25, 2015
Compensation and Retirement Disclosure [Abstract]  
Changes in Projected Benefit Obligation

The following table presents the changes in the projected benefit obligation for the fiscal years ended:

 

     June 25,
2015
     June 26,
2014
 

Change in projected benefit obligation

     

Projected benefit obligation at beginning of year

   $ 15,025       $ 13,268   

Service cost

     386         323   

Interest cost

     642         634   

Actuarial loss

     3,139         1,454   

Benefits paid

     (654      (654
  

 

 

    

 

 

 

Projected benefit obligation at end of year

   $ 18,538       $ 15,025   
  

 

 

    

 

 

 

Components of Actuarial Loss (Gain) Portion of Change in Projected Benefit Obligation

Components of the actuarial loss (gain) portion of the change in projected benefit obligation are presented below for the fiscal years ended:

 

     June 25,
2015
     June 26,
2014
     June 27,
2013
 

Actuarial Loss (Gain)

        

Change in assumed pay increases

   $ 342       $ (85    $ 423   

Change in discount rate

     (801      1,084         (1,555

Change in mortality assumptions

     2,150         —           —     

Change in bonus assumption

     1,191         474         —     

Other

     257         (19      153   
  

 

 

    

 

 

    

 

 

 

Actuarial loss (gain)

   $ 3,139       $ 1,454       $ (979
  

 

 

    

 

 

    

 

 

 

Schedule of Net Benefit Costs

The components of the net periodic pension cost are as follows for the fiscal years ended:

 

     June 25,
2015
     June 26,
2014
     June 27,
2013
 

Service cost

   $ 386       $ 323       $ 343   

Interest cost

     642         634         570   

Recognized gain amortization

     —           (68      —     

Prior service cost amortization

     957         957         957   
  

 

 

    

 

 

    

 

 

 

Net periodic pension cost

   $ 1,985       $ 1,846       $ 1,870   
  

 

 

    

 

 

    

 

 

 

Assumptions to Calculate Benefit Obligations and Net Periodic Costs of SERP

We used the following assumptions to calculate the benefit obligations of our SERP as of the following dates:

 

     June 25,
2015
  June 26,
2014

Discount rate

   4.63%   4.37%

Rate of compensation increases

   4.50%   4.50%

Bonus payment

   60% - 85% of
base,
paid 4 of 5
years
  60% - 85% of
base,
paid 3 of 5
years

We used the following assumptions to calculate the net periodic costs of our SERP as follows for the fiscal years ended:

 

     June 25,
2015
  June 26,
2014
  June 27,
2013

Discount rate

   4.37%   4.90%   4.17%

Rate of compensation increases

   4.50%   4.50%   4.50%

Bonus payment

   60% - 85% of
base,
paid 3 of 5
years
  60% - 70% of
base,
paid 3 of 5
years
  60% - 70% of
base,
paid 3 of 5
years

Benefits Expected to be Paid in Next Ten Fiscal Years

The following table presents the benefits expected to be paid in the next ten fiscal years:

 

Fiscal year

      

2016

   $ 653   

2017

     652   

2018

     646   

2019

     638   

2020

     626   

2021 — 2025

     4,031   

Components of AOCL

The following table presents the components of AOCL that have not yet been recognized in net pension expense:

 

     June 25, 2015      June 26, 2014  

Unrecognized net (loss) gain

   $ (2,404    $ 735   

Unrecognized prior service cost

     (5,263      (6,220

Tax effect

     2,833         1,982   
  

 

 

    

 

 

 

Net amount unrecognized

   $ (4,834    $ (3,503