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PENSION PLANS | 9 Months Ended
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Apr. 24, 2021
Compensation Related Costs [Abstract] |
PENSION PLANS | PENSION PLANS Net periodic pension cost for the three defined benefit pension plans sponsored in fiscal 2021 and the four defined benefit pension plans sponsored in fiscal 2020 includes the following components:
| 13 Weeks Ended |  | 39 Weeks Ended
| April 24, 2021 |  | April 25, 2020 |  | April 24, 2021 |  | April 25, 2020
Service cost | $ | 54 |  |  | $ | 51 |  |  | $ | 162 |  |  | $ | 152 |
Interest cost on projected benefit obligations | 422 |  |  | 512 |  |  | 1,266 |  |  | 1,643 |
Expected return on plan assets | (483) |  |  | (733) |  |  | (1,449) |  |  | (2,061) |
Loss on settlement | — |  |  | 116 |  |  | — |  |  | 1,362 |
Amortization of net losses | 147 |  |  | 144 |  |  | 441 |  |  | 435 |
Net periodic pension cost | $ | 140 |  |  | $ | 90 |  |  | $ | 420 |  |  | $ | 1,531 |
On December 23, 2019, the Company terminated the Village Super Market, Inc. Retail Clerks Employees’ Retirement Plan. All participants of the plan were former employees of a store previously closed in 1994. An annuity contract totaling $1,302 was purchased with an insurance company for all participants who did not elect a lump sum distribution. Additionally, lump sum distributions related to the termination totaled $451. The plan had sufficient assets to satisfy all termination transaction obligations, and no benefit obligation or plan assets related to the Village Super Market, Inc. Retail Clerks Employees’ Retirement Plan remained as of the termination date. As a result of this termination, the Company recognized a non-cash pre-tax settlement charge totaling $669 during the 13 weeks ended January 25, 2020. This settlement charge represents the plan’s remaining unrecognized losses within accumulated other comprehensive loss as of the termination date. Additionally, the Company recognized a settlement loss of $116 and $693 in the 13 and 39 weeks ended April 25, 2020, respectively, for a plan where benefits paid exceeded the sum of the service cost and interest cost components of net periodic pension cost. Assumptions used in the related remeasurement include a discount rate of 2.85% and long term expected rate of return on plan assets of 5.00%. As of April 24, 2021, the Company has not made any contributions to its pension plans in fiscal 2021. The Company expects contributions to its defined benefit pension plans to be immaterial in fiscal 2021.

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