8. Employee Benefit Plans

The Company has a qualified profit-sharing savings plan (401(k) plan) covering eligible employees. The 401(k) plan provides for a contribution of a minimum of 1% of defined compensation for all plan participants and matching of 25% of employee contributions up to 6% of defined compensation. In addition, the Company may make additional discretionary contributions. During the Transition Period, fiscal 2015, fiscal 2014 and fiscal 2013, the 1% and the discretionary contributions were made with the Company’s common stock. The Company also sponsors unfunded, nonqualified, defined-benefit and deferred compensation plans. The Company’s unfunded, nonqualified defined-benefit plan was amended effective January 1, 2009 to include two components. The first component applies to certain participants and continues to provide the same nonqualified pension benefits as were provided prior to the amendment. The second component applies to all other participants and provides an account-based supplemental retirement benefit. Pension and profit-sharing expense for all plans was $2,362,000, $3,581,000, $3,360,000 and $3,369,000 for the Transition Period, fiscal 2015, fiscal 2014 and fiscal 2013, respectively.

The Company recognizes actuarial losses and prior service costs related to its defined benefit plan in the consolidated balance sheets and recognizes changes in these amounts in the year in which changes occur through comprehensive income.

The status of the Company’s unfunded nonqualified, defined-benefit and account-based retirement plan based on the respective December 31, 2015, May 28, 2015 and May 29, 2014 measurement dates is as follows:

	December 31,		May 28,		May 29,
	2015		2015		2014
	(in thousands)
Change in benefit obligation:
Benefit obligation at beginning of year	$	31,037	$	28,776	$	26,439
Service cost		459		697		702
Interest cost		765		1,243		1,173
Actuarial loss		104		1,472		1,567
Benefits paid		(694)		(1,151)		(1,105)
Benefit obligation at end of year	$	31,671	$	31,037	$	28,776

Amounts recognized in the statement of financial position consist of:
Current accrued benefit liability (included in Other accrued liabilities)	$	(1,191)	$	(1,196)	$	(1,124)
Noncurrent accrued benefit liability (included in Deferred compensation and other)		(30,480)		(29,841)		(27,652)
Total	$	(31,671)	$	(31,037)	$	(28,776)

Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	$	9,410	$	9,562	$	8,494
Prior service credit		(711)		(756)		(834)
Total	$	8,699	$	8,806	$	7,660

	31 Weeks Ended		Year Ended
	December 31, 2015		May 28, 2015		May 29, 2014		May 30, 2013

			(in thousands)
Net periodic pension cost:
Service cost	$	459	$	697	$	702	$	712
Interest cost		765		1,243		1,173		1,099
Net amortization of prior service cost and actuarial loss		211		326		268		286
	$	1,435	$	2,266	$	2,143	$	2,097

The $5,219,000 loss, net of tax, included in accumulated other comprehensive loss at December 31, 2015, consists of the $5,645,000 net actuarial loss, net of tax, and the $426,000 unrecognized prior service credit, net of tax, which have not yet been recognized in the net periodic benefit cost. The $5,284,000 loss, net of tax, included in accumulated other comprehensive loss at May 28, 2015, consists of the $5,737,000 net actuarial loss, net of tax, and the $453,000 unrecognized prior service credit, net of tax, which have not yet been recognized in the net periodic benefit cost. The $4,581,000 loss, net of tax, included in accumulated other comprehensive loss at May 29, 2014, consists of the $5,079,000 net actuarial loss, net of tax, and the $498,000 unrecognized prior service credit, net of tax.

The accumulated benefit obligation was $26,940,000, $26,190,000 and $23,658,000 as of December 31, 2015, May 28, 2015 and May 29, 2014, respectively.

The pre-tax change in the benefit obligation recognized in other comprehensive loss during the Transition Period consisted of the current year net actuarial loss of $104,000, the amortization of the net actuarial loss of $256,000 and the amortization of the prior service credit of $45,000. The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic benefit cost in fiscal 2016 is $364,000, of which $442,000 relates to the actuarial loss and $78,000 relates to the prior service credit.

The weighted-average assumptions used to determine the benefit obligations as of the measurement dates were as follows:

	December 31, 2015		May 28, 2015		May 29, 2014
Discount rate	4.40	%	4.20	%	4.30	%
Rate of compensation increase	4.00	%	4.00	%	4.00	%

The weighted-average assumptions used to determine net periodic benefit cost were as follows:

	31 Weeks Ended		Year Ended
	December 31, 2015		May 28, 2015		May 29, 2014		May 30, 2013
Discount rate	4.20	%	4.30	%	4.40	%	4.25	%
Rate of compensation increase	4.00	%	4.00	%	4.00	%	4.00	%

Benefit payments and contributions expected to be paid subsequent to December 31, 2015, are:

Fiscal Year	(in thousands)
2016	$	1,191
2017		1,208
2018		1,334
2019		1,312
2020		1,485
Years 2021 – 2025		10,913