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Retirement Plan (Tables)

12 Months Ended

Jun. 30, 2022

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 30, 2022				June 24, 2021
Change in projected benefit obligation
Projected benefit obligation at beginning of year		$	35,547			$	32,204
Service cost			991				944
Interest cost			1,018				858
Actuarial (gain) loss			(7,390	)			2,195
Benefits paid			(655	)			(654	)
Projected benefit obligation at end of year		$	29,511			$	35,547

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 30, 2022				June 24, 2021				June 25, 2020
Actuarial (Gain) Loss
Change in assumed pay increases		$	1,698			$	3,319			$	2,352
Change in discount rate			(8,184	)			(1,134	)			4,285
Change in mortality assumptions			75				(329	)			(1,083	)
Other			(979	)			339				318
Actuarial (gain) loss		$	(7,390	)		$	2,195			$	5,872

Schedule of Net Periodic Pension Cost

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

		June 30, 2022				June 24, 2021				June 25, 2020
Service cost		$	991			$	944			$	712
Interest cost			1,018				858				892
Recognized loss amortization			1,455				1,183				417
Prior service cost amortization			—				478				957
Net periodic pension cost		$	3,464			$	3,463			$	2,978

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 30, 2022		June 24, 2021
Discount rate		4.68%		2.89%
Average rate of compensation increases		4.50%		3.38%
Bonus payment		45% - 110% of base, paid 4 of 5 years		45% - 110% 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 30, 2022		June 24, 2021		June 25, 2020
Discount rate		2.89%		2.69%		3.56%
Rate of compensation increases		3.38%		3.38%		4.13%
Mortality		Pri-2012 white collar with MP- 2020 scale		Pri-2012 white collar with MP- 2019 scale		RP-2014 white collar with MP- 2018 scale
Bonus payment		45% - 110% of base, paid 4 of 5 years		60% - 95% 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
2023		$	625
2024			1,868
2025			1,420
2026			1,351
2027			1,283
2028 — 2032			9,759

Components of AOCL

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

		June 30, 2022				June 24, 2021
Unrecognized net loss		$	(3,076	)		$	(11,921	)
Tax effect			596				2,896
Net amount unrecognized		$	(2,480	)		$	(9,025	)

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