Retirement Plans

9 Months Ended

Jul. 03, 2016

Pension and Other Postretirement Benefit Expense [Abstract]


	RETIREMENT PLANS

Defined benefit pension plans — We sponsor two defined benefit pension plans: a qualified plan covering substantially all full-time Jack in the Box employees hired prior to January 1, 2011, and an unfunded supplemental executive plan which provides certain employees additional pension benefits and was closed to new participants effective January 1, 2007. In fiscal 2011, the Board of Directors approved the sunset of our qualified plan whereby participants no longer accrue benefits effective December 31, 2015. Benefits under both plans are based on the employees’ years of service and compensation over defined periods of employment.

Postretirement healthcare plans — We also sponsor two healthcare plans, closed to new participants, that provide postretirement medical benefits to certain employees who have met minimum age and service requirements. The plans are contributory, with retiree contributions adjusted annually, and contain other cost-sharing features such as deductibles and coinsurance.

Net periodic benefit cost — The components of net periodic benefit cost in each period were as follows (in thousands):



	Quarter						Year-to-date
	July 3, 2016			July 5, 2015			July 3, 2016			July 5, 2015
Defined benefit pension plans:
Interest cost	$	5,579		$	5,237		$	18,599		$	17,457
Service cost	1,212			1,908			4,040			6,360
Expected return on plan assets	(5,020		)	(5,370		)	(16,735		)	(17,901		)
Actuarial loss (1)	943			2,172			3,144			7,240
Amortization of unrecognized prior service costs (1)	56			62			185			207
Net periodic benefit cost	$	2,770		$	4,009		$	9,233		$	13,363
Postretirement healthcare plans:
Interest cost	$	292		$	276		$	972		$	920
Actuarial loss (1)	51			42			169			140
Net periodic benefit cost	$	343		$	318		$	1,141		$	1,060

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(1) Amounts were reclassified from accumulated OCI into net earnings as a component of selling, general and administrative expenses.

Future cash flows — Our policy is to fund our plans at or above the minimum required by law. As of January 1, 2015, the date of our last actuarial funding valuation, there was no minimum contribution funding requirement. Details regarding 2016 contributions are as follows (in thousands):



	Defined Benefit Pension Plans		Postretirement Healthcare Plans
Net year-to-date contributions	$	13,738	$	962
Remaining estimated net contributions during fiscal 2016	$ 65,700 to 85,700		$	400

We continue to evaluate contributions to our qualified defined benefit pension plan based on changes in pension assets as a result of asset performance in the current market, the economic environment and regulatory fees. Based on our evaluations, we plan to accelerate $60.0 million to $80.0 million in pension plan contributions in the fourth quarter of 2016 to reduce our exposure to Pension Benefit Guaranty Corporation variable-rate premiums that are paid on the unfunded portion of our qualified pension plan liability.