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Employee and Retiree Benefits | 12 Months Ended
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Aug. 31, 2019
Retirement Benefits [Abstract] |
Employee and Retiree Benefits | Employee and Retiree Benefits Deferred compensation benefits are as follows:
(in thousands) | August 31, 2019 |  | August 25, 2018
Non-qualified deferred compensation | $ | 13,093 |  |  | $ | 14,831 |
Supplemental executive retirement plan | 2,072 |  |  | 2,309 |
Executive share option plan | 12 |  |  | 935 |
Executive deferred compensation plan | 621 |  |  | 421 |
Officer stock-based compensation | — |  |  | 1,528 |
Total deferred compensation benefits | 15,798 |  |  | 20,024 |
Less current portion(1) | 2,920 |  |  | 4,742 |
Deferred compensation benefits, net of current portion | $ | 12,878 |  |  | $ | 15,282 |
(1) | Included in accrued compensation in the consolidated balance sheets.
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. During the first quarter of Fiscal 2017, we announced the termination of the remaining postretirement health care benefits to all participants. As of January 1, 2017, postretirement health care benefits were discontinued. Net periodic postretirement benefit income consisted of the following components:
(in thousands) | 2017
Interest cost | $ | 29 |
Service cost | 16 |
Amortization of prior service benefit | (40,444 | )
Amortization of net actuarial loss | 15,648 |
Net periodic postretirement benefit income | $ | (24,751 | )
For accounting purposes, we recognized net periodic postretirement income as presented in the previous table, due to the amortization of prior service benefit associated with the establishment of caps on the employer portion of benefits in Fiscal 2005 and the plan amendments. Deferred Compensation Benefits Non-Qualified Deferred Compensation We have a Non-Qualified Deferred Compensation Program which permitted key employees to annually elect to defer a portion of their compensation until their retirement. The plan has been closed to any additional deferrals since January 2001. The retirement benefit to be provided is based upon the amount of compensation deferred and the age of the individual at the time of the contracted deferral. An individual generally vests at age 55 and 5 years of participation under the plan. For deferrals prior to December 1992, vesting occurs at the later of age 55 and 5 years of service from first deferral or 20 years of service. Deferred compensation expense was $0.9 million, $1.1 million, and $1.2 million in Fiscal 2019, 2018, and 2017, respectively. Supplemental Executive Retirement Plan ("SERP") The primary purpose of this plan was to provide our officers and managers with supplemental retirement income for a period of 15 years after retirement. We have not offered this plan on a continuing basis to members of management since 1998. The plan was funded with individual whole life insurance policies (split dollar program) owned by the named insured officer or manager. We initially paid the life insurance premiums on the life of the individual, and the individual would receive life insurance and supplemental cash payments during the 15 years following retirement. In October 2008, the plan was amended as a result of changes in the tax and accounting regulations and rising administrative costs. Under the redesigned SERP, the underlying life insurance policies previously owned by the insured individual became company-owned life insurance ("COLI") by a release of all interests by the participant and assignment to us as a prerequisite to participate in the SERP and transition from the Split Dollar Program. This program remains closed to new employee participation. To assist in funding the deferred compensation and SERP liabilities, we have invested in COLI policies. The cash surrender value of these policies is presented in investment in life insurance in the accompanying balance sheets and consists of the following:
(in thousands) | August 31, 2019 |  | August 25, 2018
Cash value | $ | 61,836 |  |  | $ | 63,574 |
Borrowings | (34,990 | ) |  | (35,277 | )
Investment in life insurance | $ | 26,846 |  |  | $ | 28,297 |
Executive Deferred Compensation Plan In December 2006, we adopted the Winnebago Industries, Inc. Executive Deferred Compensation Plan (the "Executive Deferred Compensation Plan"). Under the Executive Deferred Compensation Plan, corporate officers and certain key employees may annually choose to defer up to 50% of their salary and up to 100% of their cash incentive awards. The assets are presented as other assets in the accompanying balance sheets. Such assets on August 31, 2019 and August 25, 2018 were $0.6 million and $0.4 million, respectively. Profit Sharing Plan We have a qualified profit sharing and contributory 401(k) plan for eligible employees. The plan provides matching contributions made by us and discretionary contributions as approved by our Board of Directors. Matching contributions to the plan for Fiscal 2019, 2018, and 2017 were $2.9 million, $2.3 million, and $1.6 million, respectively. No discretionary contributions were approved for the years presented.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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