Retirement Plans

9 Months Ended

Jul. 10, 2011

Retirement Plans

Retirement Plans

7. RETIREMENT PLANS

Defined benefit pension plans — We sponsor a defined benefit pension plan covering substantially all full-time employees. In September 2010, the Board of Directors approved changes to this plan whereby participants will no longer accrue benefits effective December 31, 2015, and the plan was closed to new participants effective January 1, 2011. This change was accounted for as a plan "curtailment" in accordance with the authoritative guidance issued by the FASB. We also sponsor an unfunded supplemental executive retirement plan which provides certain employees additional pension benefits and which was closed to new participants effective January 1, 2007. Benefits under both plans are based on the employees' years of service and compensation over defined periods of employment.

Postretirement healthcare plans — We sponsor healthcare plans that provide postretirement medical benefits to certain employees who meet minimum age and service requirements. The plans are contributory, with retiree contributions adjusted annually, and contain other cost-sharing features such as deductibles and coinsurance.

Net periodic benefit cost — The components of net periodic benefit cost were as follows in each period (in thousands):

	Quarter						Year-to-Date
	July 10, 2011			July 4, 2010			July 10, 2011			July 4, 2010
Defined benefit pension plans:
Service cost	$	2,489		$	2,898		$	8,298		$	9,658
Interest cost		4,980			4,779			16,600			15,929
Expected return on plan assets		(4,785	)		(4,088	)		(15,948	)		(13,626	)
Actuarial loss		2,268			2,575			7,557			8,583
Amortization of unrecognized prior service cost		113			135			376			452
Net periodic benefit cost	$	5,065		$	6,299		$	16,883		$	20,996
Postretirement healthcare plans:
Service cost	$	19		$	25		$	61		$	82
Interest cost		366			331			1,220			1,104
Actuarial loss		46			15			155			49
Amortization of unrecognized prior service cost		7			42			24			142
Net periodic benefit cost	$	438		$	413		$	1,460		$	1,377

Future cash flows — Our policy is to fund our plans at or above the minimum required by law. Details regarding 2011 contributions are as follows (in thousands):

	Defined Benefit Pension Plans		Postretirement Healthcare Plans
Net year-to-date contributions		$          2,341		$          1,181
Remaining estimated net contributions during fiscal 2011		$             700		$             400

We will continue to evaluate contributions to our funded defined benefit pension plan based on changes in pension assets as a result of asset performance.