EMPLOYEE BENEFIT PLANS (Tables)
|
12 Months Ended |
Mar. 30, 2019 |
|---|
| Retirement Benefits [Abstract] |
|
| Schedule of Change in the Postretirement Benefit Obligation |
The change in the post-retirement benefit obligation is as follows:
|
|
FY 2019 |
|
FY 2018 |
| Post-retirement benefit obligation, at beginning of fiscal year |
|
$ |
1,153 |
|
|
$ |
1,105 |
|
| Service cost |
|
|
40 |
|
|
|
34 |
|
| Interest cost |
|
|
44 |
|
|
|
44 |
|
| Benefits paid |
|
|
(86 |
) |
|
|
(72 |
) |
| Actuarial loss |
|
|
160 |
|
|
|
42 |
|
| Post-retirement benefit obligation, at end of fiscal year |
|
|
1,311 |
|
|
|
1,153 |
|
| Fair value of plan assets, at end of fiscal year |
|
|
- |
|
|
|
- |
|
| Funded status, at end of fiscal year |
|
$ |
(1,311 |
) |
|
$ |
(1,153 |
) |
| |
|
|
|
|
|
|
|
|
| Accumulated post-retirement benefit obligation, at end of fiscal year |
|
$ |
1,311 |
|
|
$ |
1,153 | |
| Schedule of Net Periodic Postretirement Benefit Cost and Other Amounts Recognized in Other Comprehensive Income |
The components of net periodic post-retirement benefit cost and other amounts recognized in other comprehensive income are as follows:
|
|
FY 2019 |
|
FY 2018 |
| Net periodic post-retirement benefit cost: |
|
|
|
|
|
|
|
|
| Service cost |
|
$ |
40 |
|
|
$ |
34 |
|
| Interest cost |
|
|
44 |
|
|
|
44 |
|
| Amortization of prior service cost |
|
|
1 |
|
|
|
1 |
|
|
|
|
85 |
|
|
|
79 |
|
| Benefit obligations recognized in other comprehensive income: |
|
|
|
|
|
|
|
|
| Amortization of prior service cost |
|
|
(1 |
) |
|
|
(1 |
) |
| Net gain |
|
|
171 |
|
|
|
4 |
|
|
|
|
170 |
|
|
|
3 |
|
| Total recognized in net periodic benefit cost and
other comprehensive income |
|
$ |
255 |
|
|
$ |
82 |
|
| |
|
|
|
|
|
|
|
|
| Amount recognized in accumulated other comprehensive income, at end of fiscal year: |
|
|
|
|
|
|
|
|
| Unrecognized prior service cost |
|
$ |
405 |
|
|
$ |
235 | |
| Schedule of Assumptions Used |
Assumptions used to determine the post-retirement benefit obligation and the net periodic postretirement benefit cost were as follows:
|
|
March 30, |
|
March 31, |
|
|
2019 |
|
2018 |
| Weighted average discount rate |
|
3.8% |
|
4.0% |
| |
|
|
|
|
| Medical care cost trend rate: |
|
|
|
|
| Trend rate assumed for next year |
|
8.5% |
|
8.0% |
| Ultimate trend rate |
|
6.0% |
|
6.0% |
| Year that rate reaches ultimate trend rate |
|
2025 |
|
2024 |
| |
|
|
|
|
| Dental care cost trend rate: |
|
|
|
|
| Trend rate assumed for next year and remaining at that level thereafter |
|
5.0% |
|
5.0% | |
| Schedule of Expected Benefit Payments |
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as follows:
| Fiscal |
|
|
|
| Year |
|
Amount |
| 2020 |
|
$ |
99 |
| 2021 |
|
|
104 |
| 2022 |
|
|
112 |
| 2023 |
|
|
97 |
| 2024 |
|
|
78 |
| Thereafter |
|
$ |
821 | |