Note 9 - Retirement Plans

9 Months Ended

Dec. 26, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

9. Retirement Plans

The net periodic benefit cost for the Company’s pension plan consisted of (dollar amounts in thousands):

	Three Months Ended						Nine Months Ended
	December 26, 2020			December 28, 2019			December 26, 2020			December 28, 2019
Service Cost Including Administration	$	923		$	2,283		$	7,442		$	6,848
Interest Cost		2,302			2,316			6,907			6,947
Expected Return on Plan Assets		(4,814	)		(3,957	)		(11,835	)		(11,870	)
Amortization of Prior Service Cost		22			30			68			90
Amortization of Net Loss		2,257			29			7,317			87
Net Periodic Benefit Cost	$	690		$	701		$	9,899		$	2,102

On December 14, 2020, the Company made a pension contribution of $73,000,000 to offset declines in plan assets as of the last measurement date of March 31, 2020 that was due to a COVID-19 induced deterioration in market conditions and avoid variable rate PBGC premiums. There were no contributions made in the nine month period ended December 28, 2019.