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Net Periodic Pension Cost | 9 Months Ended
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Sep. 28, 2019
Retirement Benefits [Abstract] |
Net Periodic Pension Cost | Net Periodic Pension Cost The following table shows the components of our net periodic pension cost:
| Three Months Ended |  | Nine Months Ended
| September 28, 2019 |  | September 29, 2018 |  | September 28, 2019 |  | September 29, 2018
| (in thousands)
Service cost | $ | 29 |  |  | $ | 133 |  |  | $ | 190 |  |  | $ | 399 |
Interest cost on projected benefit obligation | 881 |  |  | 963 |  |  | 2,899 |  |  | 2,889 |
Expected return on plan assets | (1,339 | ) |  | (1,327 | ) |  | (3,828 | ) |  | (3,981 | )
Amortization of unrecognized loss | 278 |  |  | 271 |  |  | 857 |  |  | 813 |
Net periodic pension cost (benefit) | $ | (151 | ) |  | $ | 40 |  |  | $ | 118 |  |  | $ | 120 |
During the first nine months of fiscal 2019, we renegotiated our collective bargaining agreement with 5 unionized locations. This collective bargaining agreement covers a number of specific items such as wages, medical coverage, and certain other benefit programs, including pension plan participation. As a result of these renegotiations, 49 of the participants in the plan are no longer accruing future years of service under the applicable pension plan, which triggered a curtailment. As a result of the curtailment, we performed a revaluation of plan assets and liabilities. The related pension benefit obligation decreased $0.1 million and $0.3 million for the three and nine months ended September 28, 2019, respectively, as a result of changes in valuation assumptions. An overall increase in plan asset valuation was accompanied by a decrease to accumulated other comprehensive income of $2.5 million and $2.7 million for the three and nine months ended September 28, 2019, respectively, which was recorded in other comprehensive loss on the Condensed Consolidated Statements of Operations and Comprehensive Loss. No intraperiod income tax effect was required to be recorded as a result of the curtailment. In the third quarter of 2019, we offered a voluntary lump sum payment option to certain qualified former employees or their beneficiaries who are vested participants in the BlueLinx Hourly Pension Plan. Qualified participants had until October 25, 2019 to determine whether to accept the offer. Lump sum payments in connection with the offer are expected to total approximately $9.5 million, and will be completed during the fourth quarter of 2019. The payments are being funded with existing plan assets, and no additional contribution by the Company to the plan was required in connection with the offer. The offer, once completed, will have the effect of decreasing our net periodic pension cost and overall projected benefit obligation, which will be reflected in our 2019 year end consolidated financial statements once the offer, and our year end pension valuation, have been completed.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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