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Retirement Plan (Tables)

12 Months Ended

Jun. 29, 2017

Retirement Benefits [Abstract]

Changes in Projected Benefit Obligation

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

		June 29, 2017				June 30, 2016
Change in projected benefit obligation
Projected benefit obligation at beginning of year		$	22,791			$	18,538
Service cost			631				491
Interest cost			811				843
Actuarial (gain) loss			(1,938	)			3,573
Benefits paid			(654	)			(654	)
Projected benefit obligation at end of year		$	21,641			$	22,791

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

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

		June 29, 2017				June 30, 2016				June 25, 2015
Actuarial Loss
Change in assumed pay increases		$	124			$	68			$	342
Change in discount rate			(1,402	)			3,509				(801	)
Change in mortality assumptions			(193	)			(132	)			2,150
Change in bonus assumption			—				—				1,191
Other			(467	)			128				257
Actuarial (gain) loss		$	(1,938	)		$	3,573			$	3,139

Schedule of Net Periodic Pension Cost

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

		June 29, 2017				June 30, 2016				June 25, 2015
Service cost		$	631			$	491			$	386
Interest cost			811				843				642
Recognized loss amortization			365				50				—
Prior service cost amortization			957				957				957
Net periodic pension cost		$	2,764			$	2,341			$	1,985

Assumptions to Calculate Benefit Obligation and Net Periodic Costs of SERP

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

		June 29, 2017		June 30, 2016
Discount rate		3.99%		3.61%
Rate of compensation increases		4.50%		4.50%
Bonus payment		60% - 85% of base, paid 4 of 5 years		60% - 85% of base, paid 4 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 29, 2017		June 30, 2016		June 25, 2015
Discount rate		3.61%		4.63%		4.37%
Rate of compensation increases		4.50%		4.50%		4.50%
Mortality		RP-2014 white collar with MP- 2015 scale		RP-2014 white collar with MP- 2014 scale		IRS 2014 (Unisex)
Bonus payment		60% -85% of base, paid 4 of 5 years		60% -85% of base, paid 4 of 5 years		60% - 85% 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
2018		$	647
2019			631
2020			612
2021			727
2022			699
2023 — 2027			4,635

Components of AOCL

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

		June 29, 2017				June 30, 2016
Unrecognized net loss		$	(3,624	)		$	(5,926	)
Unrecognized prior service cost			(3,349	)			(4,306	)
Tax effect			2,569				3,807
Net amount unrecognized		$	(4,404	)		$	(6,425	)

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+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
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-Publisher FASB
-Name Accounting Standards Codification
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