Table of Contents AVNET, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The following table outlines changes in benefit obligations, plan assets and the funded status of the Plan as of the end of fiscal 2020 and 2019: June 27, June 29, 2020 2019 (Thousands) Changes in benefit obligations: Benefit obligations at beginning of year $ 731,695 $ 685,160 Service cost 15,145 14,631 Interest cost 22,552 26,354 Actuarial loss 72,144 55,118 Benefits paid (51,357) (49,610) Plan amendments — 42 Benefit obligations at end of year $ 790,179 $ 731,695 Changes in plan assets: Fair value of plan assets at beginning of year $ 664,063 $ 659,038 Actual return on plan assets 87,094 46,635 Benefits paid (51,357) (49,610) Contributions 8,000 8,000 Fair value of plan assets at end of year $ 707,800 $ 664,063 Funded status of the plan recognized as a non-current liability $ (82,379) $ (67,632) Amounts recognized in accumulated other comprehensive loss: Unrecognized net actuarial losses $ 256,477 $ 235,384 Unamortized prior service cost 332 2,470 $ 256,809 $ 237,854 Other changes in plan assets and benefit obligations recognized in other comprehensive income: Net actuarial loss $ 35,721 $ 62,002 Net prior service cost — 42 Amortization of net actuarial losses (14,629) (9,251) Amortization of prior service (costs) credits (2,137) 1,571 $ 18,955 $ 54,364 Included in accumulated other comprehensive loss at June 27, 2020, is a before tax expense of $256.5 million of net actuarial losses that have not yet been recognized in net periodic pension cost, of which $20.6 million is expected to be recognized as a component of net periodic pension cost during fiscal 2021. Also included is a before tax net cost of $0.3 million of prior service costs that have not yet been recognized in net periodic pension costs, of which $0.3 million is expected to be recognized as a component of net periodic pension costs during fiscal 2021. Assumptions used to calculate actuarial present values of benefit obligations are as follows: The discount rate selected by the Company for the Plan reflects the current rate at which the underlying liability could be settled at the measurement date as of June 27, 2020. The estimated discount rate in fiscal 2020 and fiscal 2019 2020 2019 Discount rate 2.7 % 3.5 % 63