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Employee Benefit Plans (Tables) | 3 Months Ended
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Sep. 30, 2020
Retirement Benefits [Abstract] |
Schedule of Net Periodic Benefit Costs | The net periodic benefit cost for the defined benefit pension plans is as follows:
|  | Three Months Ended September 30, |  |
|  | 2020 |  | 2019 |  |  |  |
(In thousands) |  |  |  |
Service cost |  | $ | — |  |  | $ | — |  |  |  |  |
Interest cost |  | 859 |  |  | 1,059 |  |  |  |  |
Expected return on plan assets |  | (1,038) |  |  | (1,102) |  |  |  |  |
Amortization of net loss(1) |  | 502 |  |  | 370 |  |  |  |  |
Net periodic benefit cost |  | $ | 323 |  |  | $ | 327 |  |  |  |  |
___________ (1) These amounts represent the estimated portion of the net loss in AOCI that is expected to be recognized as a component of net periodic benefit cost over the current fiscal year. Contributions made by the Company to the multiemployer pension plans were as follows:
|  | Three Months Ended September 30, |  |
|  | 2020 |  | 2019 |  |  |  |
(In thousands) |  |  |  |
Contributions |  | $ | 228 |  |  | $ | 428 |  |  |  |  |
Outstanding balance of settlement obligations of the Company to certain multiemployer pension plans are as follows:
(In thousands) |  | September 30, 2020 |  | June 30, 2020
Local 807 Pension Fund (1) |  | $ | 182 |  |  | $ | 182 |
__________ (1) Lump sum cash settlement payment of $3.0 million plus two remaining installment payments of $91,000 due on or before October 1, 2034 and on or before January 1, 2035. As of September 30, 2020, the Company has paid the Local 807 Pension Fund $3.0 million and has accrued $0.2 million within “Accrued pension liabilities” on the Company’s condensed consolidated balance sheet. The following table shows the components of net periodic postretirement benefit cost (credit) for the Retiree Medical Plan and Death Benefit for the three months ended September 30, 2020 and 2019. Net periodic postretirement benefit cost was based on employee census information and asset information as of June 30, 2020.
|  | Three Months Ended September 30, |  |
|  | 2020 |  | 2019 |  |  |  |
(In thousands) |  |  |  |  |  |  |  |
Components of Net Periodic Postretirement Benefit Cost (Credit): |  |  |  |  |  |  |  |
Service cost |  | $ | 5 |  |  | $ | 147 |  |  |  |  |
Interest cost |  | 73 |  |  | 214 |  |  |  |  |
Amortization of net gain |  | (2,728) |  |  | (125) |  |  |  |  |
Amortization of prior service credit |  | (4,481) |  |  | (392) |  |  |  |  |
Net periodic postretirement benefit credit |  | $ | (7,131) |  |  | $ | (156) |  |  |  |  |
Defined Benefit Plan, Assumptions | Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost
|  | September 30, 2020 |  | June 30, 2020
Discount rate |  | 2.55% |  | 3.45%
Expected long-term return on plan assets |  | 6.25% |  | 6.75%
Weighted-Average Assumptions Used to Determine Net Periodic Postretirement Benefit Cost
|  | Fiscal
|  | 2021 |  | 2020
Retiree Medical Plan discount rate |  | 0.06% |  | 3.62%
Death Benefit discount rate |  | 2.87% |  | 3.64%

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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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