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Retirement Benefit Plans (Tables)
3 Months Ended
Mar. 30, 2024
Retirement Benefit Plans  
Schedule of Significant Disclosures Relating to Benefit Plans

 

 

Pension Benefits

 

 

 

Three Months Ended

 

 

 

March 30, 2024

 

 

April 1, 2023

 

Service cost

 

$178,003

 

 

$216,153

 

Interest cost

 

 

966,702

 

 

 

990,054

 

Expected return on plan assets

 

 

(1,099,035)

 

 

(1,049,016)

Amortization of the net loss

 

 

327,365

 

 

 

342,865

 

Net periodic benefit cost

 

$373,035

 

 

$500,056

 

 

 

Other Postretirement Benefits

 

 

 

Three Months Ended

 

 

 

March 30, 2024

 

 

April 1, 2023

 

Service cost

 

$3,574

 

 

$6,486

 

Interest cost

 

 

12,951

 

 

 

14,533

 

Expected return on plan assets

 

 

(4,684)

 

 

(4,849)

Amortization of prior service cost

 

 

1,060

 

 

 

1,060

 

Amortization of the net loss

 

 

(19,567)

 

 

(16,895)

Net periodic benefit (gain) cost

 

$(6,666)

 

$335

 

Schedule of Company made contributions towards benefit plans

 

 

Three Months Ended

 

 

 

March 30, 2024

 

 

April 1, 2023

 

Regular matching contribution

 

$285,563

 

 

$252,761

 

Transitional credit contribution

 

 

28,906

 

 

 

34,320

 

Non-discretionary contribution

 

 

110,890

 

 

 

431,950

 

Total contributions for the period

 

$425,359

 

 

$719,031