401(k) Savings Plans

12 Months Ended

Aug. 27, 2022

401(k) Savings Plans

401(k) Savings Plans

Note L – 401(k) Savings Plan

The Company has a 401(k) plan that covers all domestic employees who meet the plan’s participation requirements. The plan features include Company matching contributions, immediate 100% vesting of Company contributions and a savings option up to 25% of qualified earnings. The Company makes matching contributions, per pay period, up to a specified percentage of employees’ contributions as approved by the Board. The Company made matching contributions to employee accounts in connection with the 401(k) plan of $37.9 million in fiscal 2022, $34.1 million in fiscal 2021 and $29.8 million in fiscal 2020.