Employee Benefit Plans

9 Months Ended

Jul. 02, 2016

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

One of our German subsidiaries has a non-contributory, defined benefit retirement plan for eligible employees. This plan provides benefits based on the employee’s years of service and compensation during the years immediately preceding retirement, termination, disability or death, as defined in the plan. We use a September 30 measurement date for this defined benefit retirement plan.

We recognize the funded status of the defined benefit pension in our Consolidated Balance Sheets, recognize changes in that funded status in the year in which the changes occur through comprehensive income and measure the plan’s assets and obligations that determine the plan’s funded status as of the end of our fiscal year.

Net periodic benefit costs for our defined benefit retirement plan included the following components:

	Three Months Ended						Nine Months Ended
(in thousands)	July 2, 2016			June 27, 2015			July 2, 2016			June 27, 2015
Service cost	$	246		$	207		$	728		$	652
Interest cost	153			152			455			481
Expected return on plan assets	(259		)	(243		)	(769		)	(765		)
Net amortization and deferral	147			121			437			380
Net periodic benefit cost	$	287		$	237		$	851		$	748

The weighted average expected long-term rate of return on plan assets used to determine the net periodic benefit cost for each of the three and nine months ended July 2, 2016 and June 27, 2015 was 5.5% and 5.5%, respectively.