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DEFINED BENEFIT PLAN
 6 Months Ended
Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]  
DEFINED BENEFIT PLAN
DEFINED BENEFIT PLAN
The Company has a noncontributory (cash balance) defined benefit pension plan covering employees of the Company and its wholly-owned subsidiaries. Effective July 1, 2015, the Company froze the plan which eliminates future contributions for qualified individuals. The plan has not been terminated, so the plan continues to exist with related benefit obligations and plan assets for those vested within the plan.
The information relative to the components of net periodic benefit cost for the Company’s defined benefit plan is presented below.
 
Three Months Ended
 
Six Months Ended
 
December 31,
 
December 31,
 
2015
 
2014
 
2015
 
2014
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
12

 
$
170

 
$
25

 
$
340

Interest cost
163

 
186

 
326

 
372

Expected return on plan assets
(143
)
 
(155
)
 
(287
)
 
(310
)
Amortization of prior losses
21

 
32

 
42

 
63

Net periodic benefit cost
$
53

 
$
233

 
$
106

 
$
465



The Company previously disclosed in its consolidated financial statements for fiscal 2015, which are included in Part II, Item 8 “Financial Statements and Supplementary Data” of the Company’s Annual Report on Form 10-K, that due to the freezing of the plan, the Company does not anticipate funding any contributions for fiscal 2016.