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EMPLOYEE BENEFITS (Tables)

12 Months Ended

Oct. 01, 2021

Retirement Benefits [Abstract]

Financial Position Of Non-Contributory Defined Benefit Plans

The financial position of the Company’s non-contributory defined benefit plans as of fiscal year end 2021 and 2020 was as follows: 

			2021						2020
Projected benefit obligation:
Projected benefit obligation, beginning of year			$	32,631					$	30,248
Service cost			—						—
Interest cost			838						931
Actuarial (gain) loss			(610)						2,588
Settlements			(31,062)						—
Benefits paid			(1,126)						(1,136)
Projected benefit obligation, end of year			671						32,631
Fair value of plan assets:
Fair value of plan assets, beginning of year			32,923						30,356
Actual (loss) gain on plan assets			(172)						3,526
Company contributions			172						177
Settlements			(31,424)						—
Benefits paid			(1,126)						(1,136)
Fair value of plan assets, end of year			373						32,923
Funded status of the plans			(298)						292
Amounts recognized in the Consolidated Balance Sheets consist of:
Current pension liabilities			96						171
Non-current pension liabilities			575						—
Non-current pension assets			373						462
Accumulated other comprehensive loss			(385)						(3,129)
Components of accumulated other comprehensive loss:
Net actuarial loss			(385)						(3,129)
Accumulated other comprehensive loss			$	(385)					$	(3,129)

Schedule of Net Periodic Benefit Cost

Net periodic benefit cost for the non-contributory defined benefit pension plans for the respective years included the following pre-tax amounts:

			2021						2020						2019
Interest cost			$	838					$	931					$	1,103
Expected return on plan assets			(436)						(641)						(855)
Amortization of unrecognized net actuarial loss			576						537						328
Pension termination charge			2,526						—						—
Net periodic pension cost			3,504						827						576
Other changes in benefit obligations recognized in other comprehensive income ("OCI"):
Pension termination charge			(2,288)						—						—
Net actuarial gain			(455)						(835)						(1,365)
Total recognized in net periodic pension cost and OCI			$	761					$	(8)					$	(789)

Estimated Benefit Payments

Estimated benefit payments from the Company’s defined benefit plans to participants for each of the next five years and the five years thereafter are as follows:

2022			$	96
2023			89
2024			82
2025			75
2026			67
Five years thereafter			230

Actuarial Assumptions Used To Determine The Projected Benefit Obligation

Actuarial assumptions used to determine the projected benefit obligation and net periodic pension cost as of the following fiscal years were as follows:

			Projected Benefit Obligation																		Net Periodic Pension Cost
			2021						2020						2019						2021						2020						2019
Discount rate			2.80		%				2.60		%				3.13		%				2.60		%				3.13		%				4.22		%
Long-term rate of return			N/A						N/A						N/A						1.70		%				2.50		%				3.45		%
Average salary increase rate			N/A						N/A						N/A						N/A						N/A						N/A

Pension Plans' Weighted Average Asset Allocations By Percent

The Company’s pension plans’ weighted average asset allocations at October 1, 2021 and October 2, 2020, by asset category were as follows:

			2021						2020
Equity securities			—		%				5		%
Fixed income securities			—		%				92		%
Other securities			100		%				3		%
			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 October 1, 2021:

			Level 1						Level 2						Level 3						Total
Description:
Money market funds			$	—					$	373					$	—					$	373
Total			$	—					$	373					$	—					$	373

The following table summarizes the Company’s pension plan assets measured at fair value as of October 2, 2020:

			Level 1						Level 2						Level 3						Total
Description:
Fixed income			$	5,657					$	24,734					$	—					$	30,391
Mutual funds			1,468						—						—						1,468
Money market funds			—						1,056						—						1,056
Group annuity contract			—						—						8						8
Total			$	7,125					$	25,790					$	8					$	32,923

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

The tables below set forth a summary of changes in fair value of the Company’s Level 3 pension plan assets for the years ended October 1, 2021 and October 2, 2020:

			2021						2020
Level 3 assets, beginning of year			$	8					$	31
Gain/(loss)			12						(1)
Sales			(20)						(22)
Level 3 assets, end of year			$	—					$	8

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