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Employee Benefit Plans (Tables)
12 Months Ended
Sep. 27, 2014
Employee Benefit Plans [Abstract]  
Pretax Amount Recognized In Accumulated Other Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

2013

 

 

(expressed in thousands)

Actuarial net loss

$

10,469 

 

$

7,819 

 

 

 

 

 

 

 

Summary Of Changes In Benefit Obligations And Plan Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

2013

 

(expressed in thousands)

Change in benefit obligation:

 

 

 

 

 

Projected benefit obligation, beginning of year 

$

23,691 

 

$

21,397 

Service cost

 

800 

 

 

690 

Interest cost

 

833 

 

 

768 

Actuarial gain

 

5,762 

 

 

269 

Exchange rate change

 

(1,830)

 

 

1,130 

Benefits paid

 

(638)

 

 

(563)

Projected benefit obligation, end of year

$

28,618 

 

$

23,691 

 

 

 

 

 

 

Change in plan assets:

 

 

 

 

 

Fair value of plan assets, beginning of year

$

18,589 

 

$

13,058 

Actual return on plan assets

 

2,978 

 

 

775 

Employer contributions

 

638 

 

 

4,575 

Exchange rate change

 

(1,298)

 

 

744 

Benefits paid

 

(638)

 

 

(563)

Fair value of plan assets, end of year

$

20,269 

 

$

18,589 

 

 

 

 

 

 

 

Summary Of Funded Status Of Defined Benefit Retirement Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

2013

 

(expressed in thousands)

Funded status:

 

 

 

 

 

Funded status, end of year

$

(8,349)

 

$

(5,102)

Accumulated other comprehensive loss

 

10,469 

 

 

7,819 

Net amount recognized

$

2,120 

 

$

2,717 

 

 

 

 

 

 

Amounts recognized in consolidated balance sheets:

 

 

 

 

 

Accrued payroll and related costs

$

(695)

 

$

(668)

Pension benefit plan obligation

 

(7,654)

 

 

(4,434)

Deferred income taxes

 

3,175 

 

 

2,360 

Accumulated other comprehensive income, net of tax

 

7,294 

 

 

5,459 

Net amount recognized

$

2,120 

 

$

2,717 

 

 

 

 

 

 

 

Weighted Average Assumptions Used To Determine The Defined Benefit Retirement Plan Obligation

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

2013

 

Discount rate

2.5 

%

 

3.6 

%

Expected rate of return on plan assets

5.5 

%

 

5.5 

%

Expected rate of increase in future compensation levels 

3.4 

%

 

2.8 

%

 

 

 

 

 

 

 

Actual Defined Benefit Retirement Plan Asset Allocations

 

 

 

 

 

 

 

 

 

 

 

 

 

Percentage of Plan Assets

 

2014

 

 

2013

 

Fixed income securities(1)

49.0 

%

 

53.0 

%

Cash and cash equivalents(2)

51.0 

%

 

47.0 

%

 

100.0 

%

 

100.0 

%

 

 

 

 

 

 

 

Defined Benefit Retirement Plan Assets Subject To Fair Value Measurements

 

 

 

 

 

 

 

 

 

 

 

 

 

September 27, 2014

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

(expressed in thousands)

Mutual fund(1)

$

 -

 

$

20,269 

 

$

 -

 

$

20,269 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 28, 2013

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

(expressed in thousands)

Mutual fund(1)

$

 -

 

$

18,589 

 

$

 -

 

$

18,589 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

The fair value of the mutual fund is generally valued based on closing prices from national exchanges, if the underlying securities are traded on an active market, or fixed income pricing models that use observable market inputs.

Net Periodic Benefit Cost For Defined Benefit Retirement Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

2013

 

 

2012

 

(expressed in thousands)

Service cost

$

800 

 

$

690 

 

$

412 

Interest cost

 

833 

 

 

768 

 

 

835 

Expected return on plan assets

 

(1,024)

 

 

(690)

 

 

(660)

Net amortization and deferral

 

463 

 

 

520 

 

 

77 

Special termination benefits

 

26 

 

 

 -

 

 

 -

Net periodic benefit cost

$

1,098 

 

$

1,288 

 

$

664 

 

 

 

 

 

 

 

 

 

 

Expected Future Pension Benefit Payments

 

 

 

 

 

 

 

 

 

 

 

Pension

Fiscal Year

 

 

Benefits

 

 

(expressed in

 

 

thousands)

2015

 

$

695 

2016

 

 

789 

2017

 

 

847 

2018

 

 

882 

2019

 

 

940 

2020 through 2024

 

 

5,727 

 

 

$

9,880