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PENSION PLANS (Tables) | 12 Months Ended
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Jul. 28, 2018
Compensation Related Costs [Abstract] |
Schedule of Net Benefit Costs Recognized | Net periodic pension cost for the four plans include the following components:
| 2018 |  | 2017
Service cost | $ | 259 |  |  | $ | 388 |
Interest cost on projected benefit obligation | 2,515 |  |  | 2,424 |
Expected return on plan assets | (3,280 | ) |  | (3,684 | )
Loss on settlement | 866 |  |  | 965 |
Amortization of gains and losses | 569 |  |  | 1,343 |
Net periodic pension cost | $ | 929 |  |  | $ | 1,436 |
Schedule of Amounts Recognized In Plan Assets and Benefit Obligations Recognized | The changes in benefit obligations and the reconciliation of the funded status of the Company’s plans to the consolidated balance sheets were as follows:
| 2018 |  | 2017
Changes in Benefit Obligation: |  |  |  |  |
Benefit obligation at beginning of year | $ | 71,701 |  |  | $ | 80,021 |
Service cost | 259 |  |  | 388 |
Interest cost | 2,515 |  |  | 2,424 |
Benefits paid | (643 | ) |  | (549 | )
Settlement | (4,317 | ) |  | (4,487 | )
Actuarial loss (gain) | 38 |  |  | (6,096 | )
Benefit obligation at end of year | $ | 69,553 |  |  | $ | 71,701 |
Changes in Plan Assets: |  |  |  |  |
Fair value of plan assets at beginning of year | $ | 56,507 |  |  | $ | 53,281 |
Actual return on plan assets | 3,014 |  |  | 5,262 |
Employer contributions | 6,510 |  |  | 3,000 |
Benefits paid | (643 | ) |  | (549 | )
Settlements paid | (4,317 | ) |  | (4,487 | )
Fair value of plan assets at end of year | 61,071 |  |  | 56,507 |
Funded status at end of year | $ | 8,482 |  |  | $ | 15,194 |
Amounts recognized in the consolidated balance sheets: |  |  |  |  |
Pension liabilities | 8,482 |  |  | 15,194 |
Accumulated other comprehensive loss, net of income taxes | 8,185 |  |  | 7,406 |
Amounts included in Accumulated other comprehensive loss (pre-tax): |  |  |  |  |
Net actuarial loss | $ | 11,388 |  |  | $ | 12,521 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The following information is presented for those plans with an accumulated benefit obligation in excess of plan assets:
| 2018 |  | 2017
Projected benefit obligation | $ | 67,861 |  |  | $ | 70,019 |
Accumulated benefit obligation | 67,861 |  |  | 70,019 |
Fair value of plan assets | 59,283 |  |  | 54,557 |
Schedule of Assumptions Used | Weighted average assumptions used to determine benefit obligations and net periodic pension cost for the Company’s defined benefit plans were as follows:
| 2018 |  | 2017
Assumed discount rate — net periodic pension cost | 3.60 | % |  | 3.08 | %
Assumed discount rate — benefit obligation | 3.99 | % |  | 3.60 | %
Assumed rate of increase in compensation levels | 4.5 | % |  | 4.5 | %
Expected rate of return on plan assets | 7.50 | % |  | 7.50 | %
Schedule of Allocation of Plan Assets | The fair value of the pension assets were as follows:
|  | July 28, 2018 |  | July 29, 2017
Asset Category |  | Level 1 |  | Assets Measured at NAV |  | Total |  | Level 1 |  | Level 2 |  | Total
Cash |  | $ | 17 |  |  | $ | — |  |  | $ | 17 |  |  | $ | 166 |  |  | $ | 610 |  |  | $ | 776 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Company stock |  | 611 |  |  | — |  |  | 611 |  |  | 636 |  |  | — |  |  | 636 |
Mutual/Collective Trust Funds - U.S. (1) |  | — |  |  | 10,213 |  |  | 10,213 |  |  | — |  |  | — |  |  | — |
Mutual/Collective Trust Funds - International (1) |  | — |  |  | 8,337 |  |  | 8,337 |  |  | — |  |  | — |  |  | — |
U.S. large cap (2) |  | — |  |  | — |  |  | — |  |  | 19,696 |  |  | 1,197 |  |  | 20,893 |
U.S. small/mid cap (3) |  | — |  |  | — |  |  | — |  |  | 6,644 |  |  | 179 |  |  | 6,823 |
International (4) |  | — |  |  | — |  |  | — |  |  | 7,187 |  |  | 421 |  |  | 7,608 |
Emerging markets (5) |  | — |  |  | — |  |  | — |  |  | 1,277 |  |  | — |  |  | 1,277 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mutual/Collective Trust Funds - Fixed Income (1) |  | — |  |  | 41,893 |  |  | 41,893 |  |  | — |  |  | — |  |  | — |
U.S. treasuries (6) |  | — |  |  | — |  |  | — |  |  | 9,520 |  |  | 356 |  |  | 9,876 |
Mortgage-backed (6) |  | — |  |  | — |  |  | — |  |  | 1,783 |  |  | 106 |  |  | 1,889 |
Corporate bonds (6) |  | — |  |  | — |  |  | — |  |  | 2,931 |  |  | 3,179 |  |  | 6,110 |
International (7) |  | — |  |  | — |  |  | — |  |  | 619 |  |  | — |  |  | 619 |
Total |  | $ | 628 |  |  | $ | 60,443 |  |  | $ | 61,071 |  |  | $ | 50,459 |  |  | $ | 6,048 |  |  | $ | 56,507 |
(1) | Includes pools of investments that are measured at fair value using the Net Asset Value (NAV) per share (or its equivalent) practical expedient. The NAV is based on the underlying net assets owned by the fund and the relative interest of each participating investor in the fair value of the underlying assets. The underlying investments are classified as either level 1 or 2 of the fair value hierarchy.
(2) | Includes directly owned securities and mutual funds, primarily low-cost equity index funds not actively managed that track the S&P 500.
(3) | Includes directly owned securities and mutual funds, which invest in diversified portfolios of publicly traded U.S. common stocks of small and medium cap companies.
(4) | Includes directly owned securities and mutual funds, which invest in diversified portfolios of publicly traded common stocks of large, non-U.S. companies.
(5) | Consists of mutual and exchange traded funds which invest in non-U.S. stocks in emerging markets.
(6) | Includes directly owned securities, mutual funds and exchange traded funds.
(7) | Consists of exchange traded funds which invest in non-U.S. bonds in emerging markets.
Schedule of Expected Benefit Payments | Based on actuarial assumptions, estimated future defined benefit payments, which may be significantly impacted by participant elections related to retirement dates and forms of payment, are as follows:
Fiscal Year |
2019 | $ | 7,336 |
2020 | 2,980 |
2021 | 2,950 |
2022 | 3,000 |
2023 | 11,446 |
2024 - 2028 | 17,300 |
Schedule of Multiemployer Plans | The Company’s participation in these plans is outlined in the following tables. The “EIN / Pension Plan Number” column provides the Employer Identification Number (“EIN”) and the three-digit pension plan number. The most recent “Pension Protection Act Zone Status” available in 2017 and 2016 is for the plan’s year-end at December 31, 2017 and December 31, 2016, respectively, unless otherwise noted. Among other factors, generally, plans in the red zone are less than 65 percent funded, plans in the yellow zone are between 65 and 80 percent funded and plans in the green zone are at least 80 percent funded. The “FIP/RP Status Pending / Implemented” column indicates plans for which a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented.
|  | Pension Protection Act Zone Status | FIP/RP Status Pending / Implemented | Contributions for the year ended (5) |  | Expiration date of Collective- Bargaining Agreement
Pension Fund | EIN / Pension Plan Number | 2017 | 2016 | July 28, 2018 | July 29, 2017 | Surcharge Imposed (6)
Pension Plan of Local 464A (1) | 22-6051600-001 | Green | Green | N/A | $ | 779 |  | $ | 762 |  | N/A | October 2020
UFCW Local 1262 & Employers Pension Fund (2), (4) | 22-6074414-001 | Red | Red | Implemented | 3,481 |  | 3,498 |  | No | October 2023
UFCW Regional Pension Plan (3), (4) | 16-6062287-074 | Red | Red | Implemented | $ | 1,373 |  | $ | 1,314 |  | No | March 2019
Total Contributions |  |  |  |  | $ | 5,633 |  | $ | 5,574 |  |  |
(1) | The information for this fund was obtained from the Form 5500 filed for the plan’s year-end at December 31, 2017 and December 31, 2016.
(2) | The information for this fund was obtained from the Form 5500 filed for the plan’s year-end at December 31, 2016 and December 31, 2015.
(3) | The information for this fund was obtained from the Form 5500 filed for the plan’s year-end at September 30, 2017 and September 30, 2016.
(4) | This plan has elected to utilize special amortization provisions provided under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010. There were no changes to the plan’s zone status as a result of this election.
(5) | The Company’s contributions represent more than 5% of the total contributions received by each applicable pension fund for all periods presented.
(6) | Under the Pension Protection Act, a surcharge may be imposed when employers make contributions under a collective bargaining agreement that is not in compliance with a rehabilitation plan. As of July 28, 2018, the collective bargaining agreements under which the Company was making contributions were in compliance with rehabilitation plans adopted by each applicable pension fund.

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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