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Other Employee Benefits
12 Months Ended
Aug. 31, 2013
Postemployment Benefits [Abstract]  
Other Employee Benefits

Note 13 — Other Employee Benefits

Savings and Stock Ownership Plan

The Company has a defined contribution savings plan by which eligible employees can elect a maximum salary deferral of 16%. The plan provides a 100% match on the first 3% of salary contributions and a 50% match on the next 3% per employee. The Company’s matching contributions were $1.2 million, $1.0 million and $0.9 million for fiscal years 2013, 2012 and 2011, respectively.

Deferred Compensation Plan

The Company provided its directors and certain employees the opportunity to defer a portion of their salary, bonus and fees. The plan was closed to new contributions effective January 31, 2011. The deferrals earn interest based on Moody’s current Corporate Bond Yield. Deferred compensation interest of $177,000, $179,000 and $197,000 was accrued in fiscal years 2013, 2012 and 2011, respectively.

Supplemental Executive Retirement Plan

The Company sponsors a supplemental executive retirement plan, a non-qualified plan, which covers certain employees. No current executive officers participate in this plan. For fiscal 2013, 2012 and 2011, the net periodic pension expense accrued for this plan was $271,000, $258,000 and $370,000, respectively. The accrued obligation related to the plan was $2.7 million at August 31, 2013 and 2012. The plan was amended in fiscal 2011 such that no participant in the plan would accrue any additional benefits after January 31, 2011.

Health Care and Life Insurance Benefits

The Company offers health care and life insurance benefits to most active employees. Costs incurred to provide these benefits are charged to expense as incurred. Health care and life insurance expense, net of employee contributions, was $5.9 million, $5.1 million and $4.5 million in fiscal years 2013, 2012 and 2011, respectively.