As of December 31, 2021, the Company has two defined benefit pension plans for certain employees, the "Farmer Bros. Plan" and the “Hourly Employees' Plan”. The Company froze benefit accruals and participation in these plans effective June 30, 2011 and October 1, 2016, respectively. After the plan freezes, participants do not accrue any benefits under the plan, and new hires are not eligible to participate in the plan.


	Three Months Ended December 31,				Six Months Ended December 31,
(In thousands)	2021		2020		2021		2020
Service cost	$	—	$	—	$	—	$	—
Interest cost	848		859		1,696		1,718
Expected return on plan assets	(1,237)		(1,038)		(2,474)		(2,075)
Amortization of net loss(1)	339		502		678		1,005


Net periodic benefit (credit) cost	$	(50)	$	323	$	(100)	$	648

(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.

The Company participates in two multiemployer defined benefit pension plans that are union sponsored and collectively bargained for the benefit of certain employees subject to collective bargaining agreements, of which the Western Conference of Teamsters Pension Plan ("WCTPP") is individually significant. The Company makes contributions to these plans


	Three Months Ended December 31,				Six Months Ended December 31,
(In thousands)	2021		2020		2021		2020
Contributions to WCTPP	$	226	$	300	$	471	$	523
Contributions to All Other Plans	10		9		17		14

The Company participates in nine multiemployer defined contribution plans other than pension plans that provide medical, vision, dental and disability benefits for active, union-represented employees subject to collective bargaining agreements. The plans are subject to the provisions of the Employee Retirement Income Security Act of 1974, and provide that participating employers make monthly contributions to the plans in an amount as specified in the collective bargaining agreements. Also, the plans provide that participants make self-payments to the plans, the amounts of which are negotiated through the collective bargaining process. The Company’s participation in these plans is governed by collective bargaining agreements which expire on or before January 31, 2025.

Farmer Bros. Co. 401(k) Plan (the “401(k) Plan”) is available to all eligible employees. The 401(k) Plan match portion is available to all eligible employees who have worked more than 1,000 hours during a calendar year and were employed at the end of the calendar year. Participants in the 401(k) Plan may choose to contribute a percentage of their annual pay subject to the maximum contribution allowed by the Internal Revenue Service. The Company's matching contribution is discretionary, based on approval by the Company's Board of Directors.

In March 2020, due to the impact the COVID-19 pandemic had on our business and financial results, the Company elected to suspend the 401(k) Plan matching contribution for non-union employees and recorded no matching contributions in the six months ended December 31, 2020.

Beginning in July 2021, the Company re-instated a 401(k) Plan matching program for non-union employees, by matching 50% of any non-union employee's annual contribution to the 401(k) Plan, up to 6% of such employee's eligible income, which is substantially similar to the program prior to its suspension in March 2020. The Company recorded matching contributions of $0.5 million and $1.1 million in operating expenses in the three and six months ended December 31, 2021.

Additionally, the Company makes an annual safe harbor non-elective contribution of shares of the Company’s common stock, par value $1.00 per share (the “Common Stock”), equal to 4% of each eligible participant’s annual plan compensation. During the three months ended December 31, 2021 and 2020, the Company contributed a total of 82,437 and 108,426 shares Common Stock with a value of $0.7 million and $0.3 million, respectively, to eligible participants’ annual plan compensation.

During the six months ended December 31, 2021 and 2020, the Company contributed a total of 134,034 and 185,097 shares of Common Stock with a value of $1.3 million and $0.6 million, respectively, to eligible participants’ annual plan compensation.

Effective January 1, 2022, the Company amended the 401(k) Plan to, among other things, increase the number of shares of Common Stock, available for issuance under the 401(k) Plan by 2,000,000 additional shares of Common Stock and permit participants in the 401(k) Plan to invest a portion of their 401(k) Plan accounts into Common Stock.

On March 23, 2020, the Company announced a plan to amend and terminate the postretirement medical benefit plan that covers qualified non-union retirees and certain qualified union retirees (“Retiree Medical Plan”) effective January 1, 2021. As a result, the re-measurement generated a prior service credit. This credit, along with actuarial gains, were amortized over the remaining months of the plan through January 1, 2021. The Retiree Medical Plan is now terminated.

The Company provides a postretirement death benefit (the “Death Benefit” Plan) to certain employees and retirees, subject, in the case of current employees, to continued employment with the Company until retirement and certain other conditions related to the manner of employment termination and manner of death. In June 2021, the Company amended the

Death Benefit Plan effective immediately, which triggered re-measurement of the plan. In conjunction with the amendment, the Company created a new Executive Death Benefit Plan (the “Executive Death Benefit Plan”) for a small group of participants in the Death Benefit Plan. Under the Executive Death Benefit Plan, the participants receive the same benefits they would have received under the Death Benefit Plan.

The following table shows the components of net periodic postretirement benefit cost (credit) for the Retiree Medical Plan and Death Benefit Plan for the three and six months ended December 31, 2021 and 2020.


	Three Months Ended December 31,				Six Months Ended December 31,
(In thousands)	2021		2020		2021		2020
Components of Net Periodic Postretirement Benefit Cost (Credit):
Service cost	$	—	$	5	$	—	$	10
Interest cost	7		73		13		147

Amortization of net gain	3		(2,728)		6		(5,456)

Amortization of prior service credit	—		(4,481)		—		(8,961)
Net periodic postretirement benefit cost (credit)	$	10	$	(7,131)	$	19	$	(14,260)