Employee Benefits

3 Months Ended

Mar. 29, 2014

Employee Benefits

Employee Benefits

Note 6 – Employee Benefits

Seaboard maintains two defined benefit pension plans for its domestic salaried and clerical employees.  At this time, no contributions are expected to be made to these plans for the remainder of 2014.  Seaboard also sponsors non-qualified, unfunded supplemental executive plans, and has certain individual, non-qualified, unfunded supplemental retirement agreements for certain retired employees.  Management has no plans to provide funding for these supplemental plans in advance of when the benefits are paid.

The net periodic benefit cost for all of these plans was as follows:

	Three Months Ended
	March 29,		March 30,
(Thousands of dollars)	2014		2013
Components of net periodic benefit cost:
Service cost	$ 1,856		$ 2,421
Interest cost	2,403		2,068
Expected return on plan assets	(2,185	)	(1,612	)
Amortization and other	470		1,636
Net periodic benefit cost	$ 2,544		$ 4,513