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Retirement Plan (Tables)

12 Months Ended

Jun. 28, 2018

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 28, 2018				June 29, 2017
Change in projected benefit obligation
Projected benefit obligation at beginning of year		$	21,641			$	22,791
Service cost			607				631
Interest cost			851				811
Actuarial gain			(511	)			(1,938	)
Benefits paid			(654	)			(654	)
Projected benefit obligation at end of year		$	21,934			$	21,641

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 28, 2018				June 29, 2017				June 30, 2016
Actuarial (Gain) Loss
Change in assumed pay increases		$	(56	)		$	124			$	68
Change in discount rate			(523	)			(1,402	)			3,509
Change in mortality assumptions			(117	)			(193	)			(132	)
Other			185				(467	)			128
Actuarial (gain) loss		$	(511	)		$	(1,938	)		$	3,573

Schedule of Net Periodic Pension Cost

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

		June 28, 2018				June 29, 2017				June 30, 2016
Service cost		$	607			$	631			$	491
Interest cost			851				811				843
Recognized loss amortization			162				365				50
Prior service cost amortization			957				957				957
Net periodic pension cost		$	2,577			$	2,764			$	2,341

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 28, 2018				June 29, 2017
Discount rate			4.14	%			3.99	%
Average rate of compensation increases			3.38	%			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 28, 2018				June 29, 2017				June 30, 2016
Discount rate			3.99	%			3.61	%			4.63	%
Rate of compensation increases			4.50	%			4.50	%			4.50	%
Mortality			RP-2014 white collar with MP- 2016 scale				RP-2014 white collar with MP- 2015 scale				RP-2014 white collar with MP- 2014 scale
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 4 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
2019		$	646
2020			628
2021			744
2022			716
2023			684
2024 — 2028			5,694

Components of AOCL

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

		June 28, 2018				June 29, 2017
Unrecognized net loss		$	(2,951	)		$	(3,624	)
Unrecognized prior service cost			(2,392	)			(3,349	)
Tax effect			2,162				2,569
Net amount unrecognized		$	(3,181	)		$	(4,404	)

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Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

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