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Defined Contribution And Other Employee Plans
12 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Defined Contribution And Other Employee Plans Defined Contribution and Other Employee Plans
Company-Sponsored Defined Contribution Plans
We sponsor four defined contribution plans established pursuant to Section 401(k) of the Internal Revenue Code. Contributions are determined under various formulas, and we contributed to three of these plans in 2023. Costs related to such plans for each of the years ended June 30 were as follows:
202320222021
Costs related to company-sponsored defined contribution plans$6,009 $5,779 $5,015 
Multiemployer Plans
In the three years ended June 30, 2023, one of our subsidiaries participated in a multiemployer plan that provides pension benefits to retiree workers under a collective bargaining contract. This plan generally provides for retirement, death and/or termination benefits for eligible employees within the collective bargaining contract, based on specific eligibility/participation requirements, vesting periods and benefit formulas. The risks of participating in a multiemployer plan are different from single-employer plans in the following aspects: (1) assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers, (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers and (3) if a participating employer chooses to stop participating in the multiemployer plan, it may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability.
Our participation in this multiemployer pension plan for the three years ended June 30, 2023 is reflected in the following table. All information in the table is as of December 31 of the relevant year, except contributions which are based on our fiscal year, or except as otherwise noted. The EIN/PN column provides the Employer Identification Number (“EIN”) and the Plan Number (“PN”). The pension protection act zone status is based on information that we received from the plan. Among other factors, generally, plans in critical status (red zone) are less than 65 percent funded, plans in endangered or seriously endangered status (yellow zone or orange zone, respectively) are less than 80 percent funded, and plans at least 80 percent funded are said to be in the green zone. The FIP/RP status pending/implemented column indicates plans for which a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented by the trustees of each plan. There have been no significant changes that affect the comparability of 2023, 2022 or 2021 contributions.

 Pension Protection
Act Zone Status
 Fiscal Year
Contributions
  
Plan NameEIN/PN20222021FIP/RP Status
Pending /
Implemented
202320222021Surcharge
Imposed
Expiration
Date of
Collective
Bargaining
Agreement
Western Conference of Teamsters Pension Plan
916145047-
001
Green
12/31/21
Green
12/31/20
No
$250 $296 $327 
No
12/15/2025
Under this multiemployer plan and one additional multiemployer plan, we also contribute amounts for health and welfare benefits that are defined by each plan. These benefits are not vested. The contributions required by our participation in these plans for each of the years ended June 30 were as follows:
202320222021
Multiemployer health and welfare plan contributions$3,124 $3,360 $3,428 
We also make non-elective contributions for the union employees at our Bedford Heights, Ohio plant into a union-sponsored multiemployer 401(k) plan. Our contributions totaled $1.0 million, $0.9 million and $0.7 million in 2023, 2022 and 2021, respectively.
Deferred Compensation Plan
We offer a deferred compensation plan for select employees who may elect to defer a certain percentage of annual compensation. We do not match any contributions. Each participant earns interest based upon the prime rate of interest, adjusted semi-annually, on their respective deferred compensation balance. Participants are paid out upon retirement or termination in accordance with their annual election.
The following table summarizes our liability for total deferred compensation and accrued interest at June 30:
20232022
Liability for deferred compensation and accrued interest$5,261 $4,934 
Deferred compensation expense for each of the years ended June 30 was as follows:
202320222021
Deferred compensation expense$311 $157 $147