XML 30 R19.htm IDEA: XBRL DOCUMENT v3.23.3
Retirement Plan
 3 Months Ended
Sep. 28, 2023
Retirement Benefits [Abstract]  
Retirement Plan

Note 9 – Retirement Plan

The Supplemental Employee Retirement Plan (“Retirement Plan”) is an unfunded, non-qualified deferred compensation plan that will provide eligible participants with monthly benefits upon retirement, disability or death, subject to certain conditions. The monthly benefit is based upon each participant’s earnings and his or her number of years of service. The components of net periodic benefit cost are as follows:

 

 

For the Quarter Ended

 

 

 

September 28,
2023

 

 

September 29,
2022

 

Service cost

 

$

63

 

 

$

200

 

Interest cost

 

 

350

 

 

 

342

 

Amortization of loss

 

 

—

 

 

 

7

 

Net periodic benefit cost

 

$

413

 

 

$

549

 

 

The components of net periodic benefit cost other than the service cost component are included in the line item “Pension expense (excluding service costs)” in the Consolidated Statements of Comprehensive Income.