Pension, Postretirement, and Postemployement Obligations

6 Months Ended

Mar. 27, 2016

Pension Postretirement And Postemployment Defined Benefit Plans [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

PENSION, POSTRETIREMENT AND POSTEMPLOYMENT DEFINED BENEFIT PLANS

We have several noncontributory defined benefit pension plans that together cover selected employees. Benefits under the plans were generally based on salary and years of service. Effective in 2012, substantially all benefits are frozen and only a small amount of additional benefits are being accrued. Our liability and related expense for benefits under the plans are recorded over the service period of employees based upon annual actuarial calculations. Plan funding strategies are influenced by government regulations. Plan assets consist primarily of domestic and foreign corporate equity securities, government and corporate bonds, hedge fund investments and cash.

In addition, we provide retiree medical and life insurance benefits under postretirement plans at several of our operating locations. The level and adjustment of participant contributions vary depending on the specific plan. In addition, one of our Pulitzer Subsidiaries, St. Louis Post-Dispatch LLC, provides postemployment disability benefits to certain employee groups prior to retirement. Our liability and related expense for benefits under the postretirement plans are recorded over the service period of active employees based upon annual actuarial calculations. We accrue postemployment disability benefits when it becomes probable that such benefits will be paid and when sufficient information exists to make reasonable estimates of the amounts to be paid. Postretirement medical plan assets may also be used to fund current medical costs of certain active employees.

We use a fiscal year end measurement date for all of our pension and postretirement medical plan obligations.

The net periodic postretirement cost (benefit) components for our postretirement plans are as follows:



PENSION PLANS	13 Weeks Ended				26 Weeks Ended
(Thousands of Dollars)	March 27 2016		March 29 2015		March 27 2016		March 29 2015

Service cost for benefits earned during the period	49		226		98		452
Interest cost on projected benefit obligation	1,515		1,859		3,030		3,718
Expected return on plan assets	(2,174	)	(2,466	)	(4,348	)	(4,932	)
Amortization of net loss	599		420		1,198		840
Amortization of prior service benefit	(34	)	(34	)	(68	)	(68	)
Pension expense (benefit)	(45	)	5		(90	)	10

POSTRETIREMENT MEDICAL PLANS	13 Weeks Ended				26 Weeks Ended
(Thousands of Dollars)	March 27 2016		March 29 2015		March 27 2016		March 29 2015

Service cost for benefits earned during the period	16		39		32		78
Interest cost on projected benefit obligation	156		211		312		422
Expected return on plan assets	(331	)	(361	)	(662	)	(722	)
Amortization of net gain	(273	)	(347	)	(546	)	(694	)
Amortization of prior service benefit	(365	)	(365	)	(730	)	(730	)
Postretirement medical benefit	(797	)	(823	)	(1,594	)	(1,646	)

Amortization of net gains (losses) and prior service benefits are recorded as compensation in the Consolidated Statements of Income and Comprehensive Income.

In the 13 weeks and 26 weeks ended March 27, 2016 we contributed $744,000 and $1,488,000, respectively to our pension plans. Based on our forecast at March 27, 2016, we expect to contribute $2,759,000 to our pension plans for the remainder of 2016. Based on our forecast at March 27, 2016, we do not expect to contribute to our postretirement medical plans for the remainder of 2016.