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Employee Benefits (Tables)
12 Months Ended
Sep. 28, 2012
Employee Benefits [Abstract]  
Financial Position Of Non-Contributory Defined Benefit Plans

 

 

 

 

 

 

 

 

 

 

 

2012

2011

Projected benefit obligation:

 

 

 

 

Projected benefit obligation, beginning of year

$

21,032 

$

19,369 

Service cost

 

 -

 

 -

Interest cost

 

1,036 

 

1,003 

Actuarial loss

 

4,224 

 

1,446 

Benefits paid

 

(776)

 

(786)

Projected benefit obligation, end of year

 

25,516 

$

21,032 

Fair value of plan assets:

 

 

 

 

Fair value of plan assets, beginning of year

 

11,304 

 

11,817 

Actual gain (loss) on plan assets

 

2,259 

 

(91)

Company contributions

 

886 

 

364 

Benefits paid

 

(776)

 

(786)

Fair value of plan assets, end of year

 

13,673 

 

11,304 

Funded status of the plans

 

(11,843)

 

(9,728)

Amounts recognized in the Consolidated Balance Sheets consist of:

 

 

 

 

Current pension liabilities

 

191 

 

197 

Non-current pension liabilities

 

11,650 

 

9,531 

Accumulated other comprehensive loss

 

(10,207)

 

(7,636)

Components of accumulated other comprehensive loss:

 

 

 

 

Net actuarial loss

 

(10,207)

 

(7,636)

Accumulated other comprehensive loss

$

(10,207)

$

(7,636)

 

 

 

 

 

 

Net Periodic Benefit Cost For The Non-Contributory Defined Benefit Pension Plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

2011

2010

Interest cost

$

1,036 

$

1,003 

$

993 

Expected return on plan assets

 

(942)

 

(962)

 

(972)

Amortization of unrecognized net actuarial loss

 

335 

 

177 

 

94 

Net periodic pension cost

 

429 

 

218 

 

115 

Other changes in benefit obligations recognized in other comprehensive income (loss), (OCI):

 

 

 

 

 

 

Net actuarial loss

 

2,571 

 

2,321 

 

497 

Total recognized in net periodic pension cost and OCI

$

3,000 

$

2,539 

$

612 

 

 

 

 

 

 

 

 

Estimated Benefit Payments

 

 

 

 

 

 

2013

$

880 

2014

 

905 

2015

 

915 

2016

 

967 

2017

 

978 

Five years thereafter

 

5,553 

 

 

 

 

Actuarial Assumptions Used To Determine The Projected Benefit Obligation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Projected Benefit Obligation

 

Net Periodic Pension Cost

 

 

2012 
2011 
2010 

 

2012 
2011 
2010 

Discount rate

 

4.00% 
5.00% 
5.25% 

 

5.00% 
5.25% 
5.50% 

Long-term rate of return

 

N/A

N/A

N/A

 

7.50% 
7.50% 
8.00% 

Average salary increase rate

 

N/A

N/A

N/A

 

N/A

N/A

N/A

 

 

 

 

 

 

 

 

 

 

Pension Plans' Weighted Average Asset Allocations By Percent

 

 

 

 

 

 

 

 

 

 

2012 
2011 

Equity securities

 

74% 
75% 

Fixed income securities

 

25% 
24% 

Other securities

 

1% 
1% 

 

 

100% 
100% 

 

 

 

 

 

Pension Plan Assets Measured At Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table summarizes the Company's pension plan assets measured at fair value as of September 28, 2012:

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

Description:

 

 

 

 

 

 

 

 

Mutual fund

$

13,290 

$

 -

$

 -

$

13,290 

Money market funds

 

52 

 

 -

 

 -

 

52 

Group annuity contract

 

 -

 

 -

 

331 

 

331 

Total

$

13,342 

$

 -

$

331 

$

13,673 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table summarizes the Company's pension plan assets measured at fair value as of September 30, 2011:

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

Description:

 

 

 

 

 

 

 

 

Mutual fund

$

10,854 

$

 -

$

 -

$

10,854 

Money market funds

 

 

 -

 

 -

 

Group annuity contract

 

 -

 

 -

 

447 

 

447 

Total

$

10,857 

$

 -

$

447 

$

11,304 

 

 

 

 

 

 

 

 

 

 

Summary Of Changes In Fair Vale of Level 3 Pension Plan Assets

 

 

 

 

 

 

 

 

 

 

 

2012

2011

Level 3 assets, beginning of year

$

447 

$

471 

Unrealized gain (loss)

 

(7)

 

16 

Purchases, sales, issuances and settlements, net

 

(109)

 

(40)

Level 3 assets, end of year

$

331 

$

447