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Employee and Retiree Benefits | 6 Months Ended
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Feb. 25, 2017
Compensation and Retirement Disclosure [Abstract] |
Employee and Retiree Benefits | Employee and Retiree Benefits Postretirement health care and deferred compensation benefits are as follows:
(In thousands) |  | February 25, 2017 |  | August 27, 2016
Postretirement health care benefit cost |  | $ | — |  |  | $ | 6,346 |
Non-qualified deferred compensation |  | 17,230 |  |  | 18,003 |
Executive share option plan liability |  | 2,468 |  |  | 3,341 |
SERP benefit liability |  | 2,723 |  |  | 2,681 |
Executive deferred compensation |  | 495 |  |  | 389 |
Officer stock-based compensation |  | 1,080 |  |  | 763 |
Total deferred compensation and postretirement health care benefits |  | 23,996 |  |  | 31,523 |
Less current portion |  | (4,626 | ) |  | (4,574 | )
Long-term deferred compensation and postretirement health care benefits |  | $ | 19,370 |  |  | $ | 26,949 |
Postretirement Health Care Benefits Historically, we provided certain health care and other benefits for retired employees hired before April 1, 2001, who had fulfilled eligibility requirements at age 55 with 15 years of continuous service. We used a September 1 measurement date for this plan and our postretirement health care plan was not funded. In Fiscal 2005, through a plan amendment, we established dollar caps on the amount that we paid for postretirement health care benefits per retiree on an annual basis so that we were not exposed to continued medical inflation. Retirees were required to pay a monthly premium in excess of the employer dollar caps for medical coverage based on years of service and age at retirement. Each year from 2012 to 2015, the employer established dollar caps were reduced by 10% through plan amendments. In 2016, postretirement health care benefits were discontinued for retirees age 65 and over. The plan amendment also included a 10% reduction in employer paid premiums for retirees under age 65. On October 26, 2016, we announced the termination of the remaining postretirement health care benefits to all participants. Beginning January 1, 2017, postretirement health care benefits were discontinued for retirees under age 65. As a result of these amendments, our liability for postretirement health care was reduced as presented in the following table.
Date | Event |  | Dollar Cap Reduction | Liability Reduction (In thousands) | Amortization Period(1)
Fiscal 2005 | Established employer dollar caps |  |  | $ | 40,414 |  | 11.5 | years
January 2012 | Reduced employer dollar caps |  | 10% | 4,598 |  | 7.8 | years
January 2013 | Reduced employer dollar caps |  | 10% | 4,289 |  | 7.5 | years
January 2014 | Reduced employer dollar caps |  | 10% | 3,580 |  | 7.3 | years
January 2015 | Reduced employer dollar caps |  | 10% | 3,960 |  | 7.1 | years
January 2016 | Reduced employer dollar caps for retirees under age 65; discontinued retiree benefits for retirees age 65 and over |  | 10% | 28,596 |  | 6.9 | years
January 2017 (2) | Terminated plan |  |  | 6,338 |  | 0.2 | years
(1) Plan amendments were amortized on a straight-line basis over the expected remaining service period of active plan participants. (2) In accordance with ASC 715, the effects of the plan amendment are accounted for at the date the amendment is adopted and has been communicated to plan participants. The effective date for this plan amendment was October 26, 2016. Net periodic postretirement benefit income consisted of the following components:
|  | Three Months Ended |  | Six Months Ended
(In thousands) |  | February 25, 2017 |  | February 27, 2016 |  | February 25, 2017 |  | February 27, 2016
Interest cost |  | $ | — |  |  | $ | 58 |  |  | $ | 29 |  |  | $ | 211 |
Service cost |  | — |  |  | 23 |  |  | 16 |  |  | 63 |
Amortization of prior service benefit |  | (19,672 | ) |  | (2,008 | ) |  | (40,444 | ) |  | (3,720 | )
Amortization of net actuarial loss |  | 7,689 |  |  | 415 |  |  | 15,648 |  |  | 782 |
Net periodic postretirement benefit income |  | $ | (11,983 | ) |  | $ | (1,512 | ) |  | $ | (24,751 | ) |  | $ | (2,664 | )
Payments for postretirement health care |  | $ | 15 |  |  | $ | 278 |  |  | $ | 68 |  |  | $ | 506 |

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