Pension Plans and Other Postretirement Benefits

9 Months Ended

Jun. 26, 2021

Compensation And Retirement Disclosure [Abstract]

Pension Plans and Other Postretirement Benefits

15. Pension Plans and Other Postretirement Benefits

The following table provides the components of net periodic benefit costs:

	Pension Benefits
	Three Months Ended						Nine Months Ended
	June 26,			June 27,			June 26,			June 27,
	2021			2020			2021			2020
Interest cost	$	534		$	720		$	1,602		$	2,160
Expected return on plan assets		(319	)		(321	)		(957	)		(961	)
Amortization of net loss		899			862			2,695			2,586
Pension settlement charge		142			900			712			900
Net periodic benefit cost	$	1,256		$	2,161		$	4,052		$	4,685

	Postretirement Benefits
	Three Months Ended						Nine Months Ended
	June 26,			June 27,			June 26,			June 27,
	2021			2020			2021			2020
Interest cost	$	20		$	38		$	58		$	113
Amortization of prior service credits		(124	)		(125	)		(373	)		(373	)
Amortization of net (gain)		(182	)		(196	)		(543	)		(590	)
Net periodic benefit cost	$	(286	)	$	(283	)	$	(858	)	$	(850	)

The Partnership expects to contribute approximately $6,250 to the defined benefit pension plan during fiscal 2021, of which $5,255 was contributed during the nine months ended June 26, 2021.  The projected annual contribution requirements related to the Partnership’s postretirement health care and life insurance benefit plan for fiscal 2021 is $843, of which $525 was contributed during the nine months ended June 26, 2021. During each of the second and third quarters of fiscal 2021, lump sum pension settlement payments exceeded the settlement threshold (combined service and interest costs of net periodic pension cost) of $2,135, which required the Partnership to recognize non-cash settlement charges of $570 and $142 for the second and third quarters of fiscal 2021, respectively.  These non-cash charges were required to accelerate the recognition of a portion of cumulative unamortized losses in the defined benefit pension plans. The components of net periodic benefit cost are included in the line item Other, net in the condensed consolidated statements of operations.

The Partnership contributes to multi-employer pension plans (“MEPPs”) in accordance with various collective bargaining agreements covering union employees.  As one of the many participating employers in these MEPPs, the Partnership is responsible with the other participating employers for any plan underfunding.  As of June 26, 2021 and September 26, 2020, the Partnership’s estimated obligation to these MEPPs was $19,607 and $20,396, respectively, as a result of its voluntary full withdrawal from certain MEPPs.