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RESTRICTED CASH AND INVESTMENTS
 6 Months Ended
Jun. 28, 2020
Restricted Cash and Investments [Abstract]  
RESTRICTED CASH AND INVESTMENTS RESTRICTED CASH AND INVESTMENTS
The following is a summary of the carrying value of our restricted cash and investments:
(in thousands)
June 28,
2020
December 29,
2019
Cash collateral held by insurance carriers
$
24,308

$
24,612

Cash and cash equivalents held in Trust
21,922

23,681

Investments held in Trust
143,731

149,373

Deferred compensation investments
11,981

13,670

Company owned life insurance policies
12,343

13,126

Other restricted cash and cash equivalents
3,559

6,470

Total restricted cash and investments
$
217,844

$
230,932


Held-to-maturity
Restricted cash and investments include collateral that has been provided or pledged to insurance carriers for workers’ compensation and state workers’ compensation programs. Our insurance carriers and certain state workers’ compensation programs require us to collateralize a portion of our workers’ compensation obligation. The collateral typically takes the form of cash and cash equivalents and highly rated investment grade securities, primarily in debt and asset-backed securities. The majority of our collateral obligations are held in a trust at the Bank of New York Mellon (“Trust”).
The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of June 28, 2020 and December 29, 2019, were as follows:
 
June 28, 2020
(in thousands)
Amortized cost
Gross unrealized gains
Gross unrealized losses
Fair value
Municipal debt securities
$
71,117

$
3,411

$
—

$
74,528

Corporate debt securities
70,717

2,746

(1
)
73,462

Agency mortgage-backed securities
897

34

—

931

U.S. government and agency securities
1,000

134

—

1,134

Total held-to-maturity investments
$
143,731

$
6,325

$
(1
)
$
150,055

 
December 29, 2019
(in thousands)
Amortized cost
Gross unrealized gains
Gross unrealized losses
Fair value
Municipal debt securities
$
72,017

$
2,219

$
—

$
74,236

Corporate debt securities
75,000

1,102

(34
)
76,068

Agency mortgage-backed securities
1,357

21

(2
)
1,376

U.S. government and agency securities
999

52

—

1,051

Total held-to-maturity investments
$
149,373

$
3,394

$
(36
)
$
152,731


The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows:
 
June 28, 2020
(in thousands)
Amortized cost
Fair value
Due in one year or less
$
25,297

$
25,545

Due after one year through five years
90,729

94,717

Due after five years through ten years
27,705

29,793

Total held-to-maturity investments
$
143,731

$
150,055


Actual maturities may differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without penalty. We have no significant concentrations of counterparties in our held-to-maturity investment portfolio.
Equity investments
We hold mutual funds and money market funds to support our deferred compensation liability. Unrealized gains related to equity investments still held at June 28, 2020 and June 30, 2019, totaled $3.1 million and $0.8 million for the thirteen weeks then ended, respectively, and are included in SG&A expense on the Consolidated Statements of Operations and Comprehensive Income (Loss). Unrealized gains and losses related to equity investments still held at June 28, 2020 and June 30, 2019, totaled a $1.7 million loss and a $3.2 million gain for the twenty-six weeks then ended, respectively.