NOTE J – EMPLOYEE POST-EMPLOYMENT BENEFITS

We sponsor three defined benefit pension plans for active employees and offer certain postretirement benefits for retirees. A summary of each of these is presented below.

Retirement Plan

RTI sponsors the Morrison Restaurants Inc. Retirement Plan (the “Retirement Plan”). Effective December 31, 1987, the Retirement Plan was amended so that no additional benefits would accrue and no new participants may enter the Retirement Plan after that date. Participants receive benefits based upon salary and length of service.

Minimum funding for the Retirement Plan is determined in accordance with the guidelines set forth in employee benefit and tax laws. From time to time we may contribute additional amounts as we deem appropriate. We estimate that we will be required to make contributions totaling $0.4 million to the Retirement Plan during the remainder of fiscal 2015.

Executive Supplemental Pension Plan and Management Retirement Plan

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. Effective June 1, 2001, the Management Retirement Plan was amended so that no additional benefits would accrue and no new participants may enter the plan after that date.

Included in our Condensed Consolidated Balance Sheets as of September 2, 2014 and June 3, 2014 are amounts within Accrued liabilities: Payroll and related costs of $3.3 million as of both dates and amounts within Other deferred liabilities of $32.4 million and $32.5 million, respectively, relating to our three defined benefit pension plans.

Postretirement Medical and Life Benefits

Our Postretirement Medical and Life Benefits plans provide medical and life insurance benefits to certain retirees. The medical plan requires retiree cost sharing provisions that are more substantial for employees who retire after January 1, 1990.

The following tables detail the components of net periodic benefit costs and the amounts recognized in our Condensed Consolidated Financial Statements for the Retirement Plan, Management Retirement Plan, and the Executive Supplemental Pension Plan (collectively, the “Pension Plans”) and the Postretirement Medical and Life Benefits plans (in thousands):

During the 13 weeks ended September 2, 2014 and September 3, 2013, we reclassified recognized actuarial losses and amortized prior service costs out of accumulated other comprehensive loss and into pension expense, which is included in Selling, general and administrative, net within our Condensed Consolidated Statements of Operations, as follows (in thousands):

Accumulated other comprehensive loss in our Condensed Consolidated Balance Sheets as of September 2, 2014 and June 3, 2014 was $10.4 million and $10.9 million, respectively. The change in accumulated other comprehensive loss during the 13 weeks ended September 2, 2014 was attributable to $0.5 million of recognized actuarial losses related to our pension plans.

We also sponsor two defined contribution retirement savings plans. Information regarding these plans is included in our Annual Report on Form 10-K for the fiscal year ended June 3, 2014.

Executive Separations

On June 26, 2014, our then Executive Vice President, Chief Financial Officer separated employment with the Company. Additionally, our Senior Vice President, Chief Development Officer departed the Company on July 24, 2014. During the 13 weeks ended September 2, 2014, we recorded severance expense and made severance payments of $0.3 million in connection with the separation agreements for these former executives.

As of September 2, 2014, liabilities of $0.5 million and $0.1 million, representing unpaid obligations in connection with the staff reductions, were included within Accrued liabilities: Payroll and related costs and Other deferred liabilities, respectively, in our Condensed Consolidated Balance Sheet. A roll forward of our obligations in connection with employee separations is as follows (in thousands):

See Note L to the Condensed Consolidated Financial Statements for discussion of the impact of executive separations to our share-based employee compensation costs.