Employee Benefit Plans

6 Months Ended

Dec. 31, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Defined Benefit Pension Plan

On December 31, 2006, we froze our pension and SERP plans for all participants.

The components of net periodic pension cost for these plans for the three and six month periods ended December 31, 2016 and December 26, 2015 are as follows:



	Pension Plan						SERP
	Three Months Ended						Three Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016		December 26, 2015
Interest cost	$	819		$	943		$	136	$	148
Expected return on assets	(789		)	(1,068		)	—		—
Amortization of net loss	635			608			117		60
Net periodic benefit cost	$	665		$	483		$	253	$	208



	Pension Plan						SERP
	Six Months Ended						Six Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016		December 26, 2015
Interest cost	$	1,666		$	1,886		$	272	$	296
Expected return on assets	(1,649		)	(2,136		)	—		—
Amortization of net loss	1,350			1,216			234		120
Loss on pension settlement	6,010			—			—		—
Net periodic benefit cost	$	7,377		$	966		$	506	$	416

During the first six months of fiscal year 2017, we contributed approximately $180 to the pension plans.

In the fourth quarter of fiscal year 2016, in an effort to continue to reduce the risk in the Company's noncontributory defined benefit pension plan (the "Pension Plan"), we announced a voluntary, limited-time opportunity to former employees who were vested participants in the Pension Plan to request early payment of their entire Pension Plan benefit in the form of a single lump sum payment. Eligible participants who wished to receive the lump sum payment were required to make an election between May 16, 2016 and July 15, 2016, with payments being made on or before August 31, 2016. All payments were made from the Pension Plan trust assets. The target population had a total liability of $34,200 as of July 2, 2016. Based upon the participation rate of eligible participants, the amount of total payments was $17,281 and resulted in a plan remeasurement and the recognition of a $6,010 settlement loss, or $0.19 per share, related to the pro-rata portion of the unamortized net actuarial loss which was recognized in the Condensed Consolidated Statement of Operations for the six months ended December 31, 2016.

Multi-Employer Pension Plans

During the first quarter of fiscal year 2017, we made an $813 settlement payment related to a union sponsored multi-employer pension plan ("MEPP"). Following this payment, we no longer have any liabilities for MEPPs and we no longer participate in any MEPPs in the United States as of December 31, 2016.