Retirement Plans

9 Months Ended

Sep. 27, 2015

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Retirement Plans

We have an unfunded supplemental executive retirement plan covering certain officers, key members of management and our non-employee directors.  Subject to certain vesting requirements, the plan provides for retirement benefits based on the average of the final thirty-six months of base salary.  Such benefits become payable upon attaining age sixty-five, or upon retirement, if later.  The benefits are paid biweekly and continue for the remainder of the retiree’s life or for a minimum of ten years. The plan was closed to new participants effective February 3, 2011.

For the thirty-nine weeks ended September 27, 2015, payments to retirees or their beneficiaries totaled approximately $1.3 million.  We presently anticipate benefit payments in 2015 to total approximately $2.5 million.  The following table summarizes the components of net periodic pension cost for the third quarter of 2015 and 2014.

(Dollars in thousands)	Thirteen Weeks Ended				Thirty-nine Weeks Ended
	September 27, 2015		September 28, 2014		September 27, 2015		September 28, 2014
Service cost	$	11	$	21	$	33	$	346
Interest cost	307		293		923		879
Net amortization	134		30		401		89
Net periodic pension cost	$	452	$	344	$	1,357	$	1,314