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Retirement Benefit Plans (Tables)

6 Months Ended

Jun. 29, 2024

Retirement Benefit Plans

Schedule of Significant Disclosures Relating to Benefit Plans

		Pension Benefits
		Three Months Ended								Six Months Ended
		June 29, 2024				July 1, 2023				June 29, 2024				July 1, 2023
Service cost		$	178,004			$	216,153			$	356,007			$	432,306
Interest cost			966,704				990,053				1,933,406				1,980,107
Expected return on plan assets			(1,099,034	)			(1,049,014	)			(2,198,069	)			(2,098,030	)
Amortization of prior service cost			-				-				-				-
Amortization of the net loss			327,363				342,865				654,728				685,730
Net periodic benefit cost (benefit)		$	373,037			$	500,057			$	746,072			$	1,000,113

		Other Postretirement Benefits
		Three Months Ended								Six Months Ended
		June 29, 2024				July 1, 2023				June 29, 2024				July 1, 2023
Service cost		$	3,574			$	6,486			$	7,148			$	12,972
Interest cost			12,951				14,533				25,902				29,066
Expected return on plan assets			(4,684	)			(4,849	)			(9,368	)			(9,698	)
Amortization of prior service cost			1,060				1,060				2,120				2,120
Amortization of the net loss			(19,567	)			(16,895	)			(39,134	)			(33,790	)
Net periodic benefit cost		$	(6,666	)		$	335			$	(13,332	)		$	670

Schedule of Company made contributions towards benefit plans

		Three Months Ended								Six Months Ended
		June 29, 2024				July 1, 2023				June 29, 2024				July 1, 2023
Regular matching contribution		$	261,993			$	253,665			$	547,556			$	506,426
Transitional credit contribution			21,964				26,344				50,870				60,663
Non-discretionary contribution			102,873				89,163				213,763				521,112
Total contributions for the period		$	386,830			$	369,172			$	812,189			$	1,088,201

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- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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