RTI sponsors the Morrison Restaurants Inc. Retirement Plan (the "Retirement Plan"). Effective the Retirement Plan was amended so that additional benefits would accrue and new participants could enter the Retirement Plan after that date. Participants receive benefits based upon salary and length of service.

’s assets are held in a trust and were allocated as follows on the measurement dates:

’s trust. The overall investment objective is to invest the Retirement Plan’s assets in a structure designed to produce returns, over a long-term horizon (greater than years), that meets the actuarially assumed rate of return. The Retirement Plan’s fiduciaries oversee the investment allocation process, which includes selecting investment managers, commissioning periodic asset-liability studies, setting long-term strategic targets, and monitoring asset allocations. Target allocation ranges are guidelines, limitations, and occasionally the Retirement Plan’s fiduciaries will approve allocations above or below a target range. The target allocation percentages presented above reflect an objective focused on capital appreciation with a secondary focus on current income through a higher allocation to equities than fixed income, and where appropriate, other asset classes.

Under these unfunded defined benefit pension plans, eligible employees earn supplemental retirement income based upon salary and length of service, reduced by social security benefits and amounts otherwise receivable under other specified Company retirement plans. The Executive Supplemental Pension Plan and the Management Retirement Plan have been amended so that additional benefits will accrue and new participants enter the plan. 

Our Postretirement Medical and Life Benefits plans provide medical benefits to substantially all retired employees and life insurance benefits to certain retirees. The medical plan requires retiree cost sharing provisions that are more substantial for employees who retire after

 

  we reclassified the following items out of accumulated other comprehensive loss and into Pension and Postretirement Medical and Life Benefits expense, which is included in Selling, general and administrative, net within our Consolidated Statements of Operations and Comprehensive Loss, as follows (in thousands):

RTI offers certain employees a (k) plan called the Ruby Tuesday, Inc. Salary Deferral Plan ((k) Plan”). We make matching contributions to the (k) Plan based on each eligible employee's pre-tax contribution. We match in cash each fiscal quarter of the participating employee's of contributions. Company matches vest immediately. Fiscal years and  had (k) Plan expenses for the Company match of  million for both periods. During fiscal year we matched participating employee’s contributions based on a same-restaurant sales performance factor. Given that the Company did achieve the fiscal year same-restaurant sales performance factor in order for there to be an employer match, we had expense related to the (k) Plan for fiscal year

On our Board of Directors approved the adoption of the Ruby Tuesday, Inc. Deferred Compensation Plan (the “Deferred Compensation Plan”), effective as of and froze the existing deferred compensation plan, the Ruby Tuesday, Inc. Restated Deferred Compensation Plan (the “Predecessor Plan”), effective as of in order to satisfy the requirements of Section of the Internal Revenue Code of as amended, enacted as part of the American Jobs Creation Act of

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’s assets and liabilities approximated million and million as of and respectively. Of these amounts as of and million and million, respectively, was included in Prepaid and other expenses and Accrued liabilities – Payroll and related costs for both periods, and million and million, respectively, was included in Other assets, net and Other deferred liabilities in the Consolidated Balance Sheets. The investment in RTI common stock and the related liability payable in RTI common stock, which totaled million and million as of and respectively, is reflected in Shareholders’ Equity in the Consolidated Balance Sheets.

  In connection with Mr. Buettgen's resignation, million in severance accruals and other benefits were paid during fiscal   We also recorded a charge of approximately million in connection with the accelerated vesting of Mr. Buettgen's share-based compensation awards.  The Ruby Tuesday Concept President and a Divisional Vice President departed the Company and respectively.  During the fiscal year ended we recorded severance expense of million and made severance payments of million in connection with these departures coupled with recording a charge of million related to their accelerated vesting of share-based compensation awards. 

 and liabilities of million and million, respectively, representing unpaid obligations in connection with the separations and restructurings, were included within Accrued liabilities: Payroll and related costs in our Consolidated Balance Sheet. Costs of million and million are reflected in the table below related to employee severance and unused vacation accruals are included within General and administrative expenses, and Closures and impairments, net, respectively, in our Consolidated Statements of Operations and Comprehensive Loss. A roll forward of our obligations in connection with employee separations is as follows (in thousands):