13. POST-RETIREMENT PLANS

The following summarizes the company’s balance sheet related pension and other postretirement benefit plan accounts at July 12, 2014 as compared to accounts at December 28, 2013 (amounts in thousands):


	July 12, 2014		December 28, 2013
Current benefit liability	$	1,301	$	1,301
Noncurrent benefit liability	$	32,620	$	44,226
Accumulated other comprehensive loss, net of tax	$	50,809	$	51,099

Defined Benefit Plans and Nonqualified Plan

The company has noncontributory defined benefit pension plans operated by trustees that cover certain employees. The benefits are based on years of service and the employees’ career earnings. The plans are funded at amounts deductible for income tax purposes but not less than the minimum funding required by the Employee Retirement Income Security Act of 1974 (“ERISA”). As of July 12, 2014, the assets of the plans included certificates of deposit, marketable equity securities, mutual funds, corporate and government debt securities, private and public real estate partnerships, other diversifying strategies and annuity contracts. Effective January 1, 2006, the company curtailed the defined benefit plan that covers the majority of its workforce. Benefits under this plan were frozen, and no future benefits will accrue under this plan. The company continues to maintain a plan that covers a small number of certain union employees. During the twenty-eight weeks ended July 12, 2014 the company contributed $5.0 million to company pension plans. We expect to contribute an additional $7.8 million during the remainder of fiscal 2014.

The net periodic pension cost (income) for the company’s plans include the following components (amounts in thousands):


	For the Twelve Weeks Ended						For the Twenty-Eight Weeks Ended
	July 12, 2014			July 13, 2013			July 12, 2014			July 13, 2013
Service cost	$	148		$	163		$	345		$	381
Interest cost		4,944			4,636			11,537			10,817
Expected return on plan assets		(7,804	)		(6,618	)		(18,209	)		(15,443	)
Amortization of net loss		444			1,425			1,036			3,326

Total net periodic benefit (income) cost	$	(2,268	)	$	(394	)	$	(5,291	)	$	(919	)

The company also has several smaller defined benefit plans associated with recent acquisitions that will be merged into the Flowers Foods defined benefit plans after receipt of final determination letters.

Post-retirement Benefit Plan

The company provides certain medical and life insurance benefits for eligible retired employees. The medical plan covers eligible retirees under the active medical plans. The plan incorporates an up-front deductible, coinsurance payments and retiree contributions at various premium levels. Eligibility and maximum period of coverage is based on age and length of service.

The net periodic postretirement benefit (income) cost for the company includes the following components (amounts in thousands):


	For the Twelve Weeks Ended						For the Twenty-Eight Weeks Ended
	July 12, 2014			July 13, 2013			July 12, 2014			July 13, 2013
Service cost	$	87		$	79		$	203		$	184
Interest cost		103			88			240			205
Amortization of prior service (credit) cost		(108	)		(60	)		(252	)		(139	)
Amortization of net (gain) loss		(133	)		(184	)		(311	)		(430	)

Total net periodic benefit (income) cost	$	(51	)	$	(77	)	$	(120	)	$	(180	)

401(k) Retirement Savings Plan

The Flowers Foods 401(k) Retirement Savings Plan covers substantially all of the company’s employees who have completed certain service requirements. During the twenty-eight weeks ended July 12, 2014 and July 13, 2013, the total cost and employer contributions were $14.4 million and $12.7 million, respectively.

The company acquired Lepage Bakeries, Inc. in fiscal 2012, at which time we assumed sponsorship of the Lepage 401(k) Plan. This plan was merged into the Flowers Foods 401(k) Retirement Savings Plan on December 31, 2013.