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Employee Benefits (Tables)
12 Months Ended
Oct. 03, 2014
Employee Benefits [Abstract]  
Financial Position Of Non-Contributory Defined Benefit Plans

 

 

 

 

 

 

 

 

 

 

 

2014

2013

Projected benefit obligation:

 

 

 

 

Projected benefit obligation, beginning of year

$

22,051 

$

25,516 

Interest cost

 

1,078 

 

997 

Actuarial (gain) loss

 

3,012 

 

(3,649)

Benefits paid

 

(840)

 

(813)

Projected benefit obligation, end of year

 

25,301 

 

22,051 

Fair value of plan assets:

 

 

 

 

Fair value of plan assets, beginning of year

 

15,864 

 

13,673 

Actual gain on plan assets

 

1,795 

 

1,861 

Company contributions

 

732 

 

1,143 

Benefits paid

 

(840)

 

(813)

Fair value of plan assets, end of year

 

17,551 

 

15,864 

Funded status of the plans

 

(7,750)

 

(6,187)

Amounts recognized in the Consolidated Balance Sheets consist of:

 

 

 

 

Current pension liabilities

 

189 

 

191 

Non-current pension liabilities

 

7,561 

 

5,996 

Accumulated other comprehensive loss

 

(6,981)

 

(5,008)

Components of accumulated other comprehensive loss:

 

 

 

 

Net actuarial loss

 

(6,981)

 

(5,008)

Accumulated other comprehensive loss

$

(6,981)

$

(5,008)

 

 

 

 

 

 

Schedule of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

2013

2012

Interest cost

$

1,078 

$

997 

$

1,036 

Expected return on plan assets

 

(1,097)

 

(977)

 

(942)

Amortization of unrecognized net actuarial loss

 

341 

 

666 

 

335 

Net periodic pension cost

 

322 

 

686 

 

429 

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

 

 

 

 

 

 

Net actuarial (gain) loss

 

1,974 

 

(5,199)

 

2,571 

Total recognized in net periodic pension cost and OCI

$

2,296 

$

(4,513)

$

3,000 

 

 

 

 

 

 

 

 

Estimated Benefit Payments

 

 

 

 

 

 

2015

$

945 

2016

 

1,003 

2017

 

1,006 

2018

 

1,049 

2019

 

1,086 

Five years thereafter

 

5,971 

 

 

 

 

Actuaral Assumptions Used To Determine The Projected Benefit Obligation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Projected Benefit Obligation

 

Net Periodic Pension Cost

 

 

2014 
2013 
2012 

 

2014 
2013 
2012 

Discount rate

 

4.25% 
5.00% 
4.00% 

 

5.00% 
4.00% 
5.00% 

Long-term rate of return

 

N/A

N/A

N/A

 

7.50% 
7.50% 
7.50% 

Average salary increase rate

 

N/A

N/A

N/A

 

N/A

N/A

N/A

 

 

 

 

 

 

 

 

 

 

Pension Plans' Weighted Average Asset Allocations By Percent

 

 

 

 

 

 

 

 

 

 

2014 
2013 

Equity securities

 

74% 
76% 

Fixed income securities

 

24% 
23% 

Other securities

 

2% 
1% 

 

 

100% 
100% 

 

 

 

 

 

Pension Plan Assets Measured At Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

Description:

 

 

 

 

 

 

 

 

Mutual fund

$

17,299 

$

 -

$

 -

$

17,299 

Money market funds

 

36 

 

 -

 

 -

 

36 

Group annuity contract

 

 -

 

 -

 

216 

 

216 

Total

$

17,335 

$

 -

$

216 

$

17,551 

 

 

 

 

 

 

 

 

 

The following table summarizes the Company’s pension plan assets measured at fair value as of September 27, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

Description:

 

 

 

 

 

 

 

 

Mutual fund

$

15,560 

$

 -

$

 -

$

15,560 

Money market funds

 

34 

 

 -

 

 -

 

34 

Group annuity contract

 

 -

 

 -

 

270 

 

270 

Total

$

15,594 

$

 -

$

270 

$

15,864 

 

 

 

 

 

 

 

 

 

 

Summary Of Changes In Fair Value Of Level 3 Pension Plan Assets

 

 

 

 

 

 

 

 

 

 

 

2014

2013

Level 3 assets, beginning of year

$

270 

$

331 

Purchases

 

 

Unrealized (loss) gain

 

(15)

 

Sales

 

(46)

 

(68)

Level 3 assets, end of year

$

216 

$

270