Pension, Postretirement, and Postemployement Obligations

3 Months Ended

Dec. 25, 2016

Pension Postretirement And Postemployment Defined Benefit Plans [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

PENSION, POSTRETIREMENT AND POSTEMPLOYMENT DEFINED BENEFIT PLANS

We have several noncontributory defined benefit pension plans that together cover selected employees. Benefits under the plans were generally based on salary and years of service. Effective in 2012, substantially all benefits are frozen and only a small amount of additional benefits are being accrued. Our liability and related expense for benefits under the plans are recorded over the service period of employees based upon annual actuarial calculations. Plan funding strategies are influenced by government regulations. Plan assets consist primarily of domestic and foreign corporate equity securities, government and corporate bonds, hedge fund investments and cash.

In addition, we provide retiree medical and life insurance benefits under postretirement plans at several of our operating locations. The level and adjustment of participant contributions vary depending on the specific plan. In addition, St. Louis Post-Dispatch LLC, provides postemployment disability benefits to certain employee groups prior to retirement. Our liability and related expense for benefits under the postretirement plans are recorded over the service period of active employees based upon annual actuarial calculations. We accrue postemployment disability benefits when it becomes probable that such benefits will be paid and when sufficient information exists to make reasonable estimates of the amounts to be paid.

We use a fiscal year end measurement date for all of our pension and postretirement medical plan obligations.

The net periodic postretirement cost (benefit) components for our postretirement plans are as follows:

PENSION PLANS	13 Weeks Ended
(Thousands of Dollars)	December 25 2016		December 27 2015
Service cost for benefits earned during the period	21		49
Interest cost on projected benefit obligation	1,349		1,515
Expected return on plan assets	(1,969	)	(2,174	)
Amortization of net loss	736		599
Amortization of prior service benefit	(34	)	(34	)
Pension expense (benefit)	103		(45	)
POSTRETIREMENT MEDICAL PLANS	13 Weeks Ended
(Thousands of Dollars)	December 25 2016		December 27 2015
Service cost for benefits earned during the period	3		16
Interest cost on projected benefit obligation	122		156
Expected return on plan assets	(264	)	(331	)
Amortization of net gain	(237	)	(273	)
Amortization of prior service benefit	(365	)	(365	)
Postretirement medical benefit	(741	)	(797	)

Amortization of net gains (losses) and prior service benefits are recorded as compensation in the Consolidated Statements of Income and Comprehensive Income.

Based on our forecast at December 25, 2016, we do not expect to make contributions to our pension trust and postretirement medical plans for the reminder of 2017.