Medical Expense & Funded Status Reconciliation
| | | | | | | | | | | | | | | | | | June 30,
2012 | | Fiscal Year 2013 Expense | | June 29, 2013 | | Estimated Fiscal Year 2014 Expense | | (in thousands, except percentages) | Accumulated Postretirement Benefit Obligation [APBO]: | | | | | | | | Retirees and beneficiaries | $ | (20,427 | ) | | | | $ | (18,162 | ) | | | Active participants | (1,780 | ) | | | | (2,128 | ) | | | | | | | | | | | Funded status | $ | (22,207 | ) | | | | $ | (20,290 | ) | | | | | | | | | | | Actuarial gain (loss) | $ | 1,507 |
| | | | $ | (2,369 | ) | | | Prior service cost | 3,100 |
| | | | — |
| | | | | | | | | | | Amounts Recognized in Accumulated Other Comprehensive Income: | | | | | | | | Net actuarial loss | $ | 8,603 |
| | | | $ | 5,500 |
| | | Prior service cost | 3,100 |
| | | | 2,744 |
| | | Total | $ | 11,703 |
| | | | $ | 8,244 |
| | | | | | | | | | | Net Periodic Postretirement Benefit Cost/(Income): | | | | | | | | Interest cost | | | 877 |
| | | | 858 |
| Amortization: | | | | | | | | Prior service cost | | | 356 |
| | | | 356 |
| Net actuarial loss (1) | | | 734 |
| | | | 457 |
| Total net periodic postretirement benefit cost | | | $ | 1,967 |
| | | | $ | 1,671 |
| | | | | | | | | Employer contributions | | | $ | 424 |
| | | | $ | 676 |
| | | | | | | | | Economic Assumptions: | | | | | | | | Discount rate | 4.0% | | | | 4.3% | | | Medical trend | 9% -5% | | | | 8.5% -5% | | |
(1) Unrecognized losses are amortized over average remaining service period of active participants of 7.6 years at June 29, 2013. |