NOTE 9—BENEFIT PLANS

Net periodic benefit expense (income) and contributions for defined benefit pension and other postretirement benefit plans consisted of the following:



	Third Quarter Ended
	Pension Benefits						Other Postretirement Benefits
	December 3, 2016 (12 weeks)			December 5, 2015 (12 weeks)			December 3, 2016 (12 weeks)			December 5, 2015 (12 weeks)
Interest cost	$	20		$	24		$	—		$	1
Expected return on assets	(33		)	(32		)	—			—
Amortization of prior service benefit	—			—			(2		)	(4		)
Amortization of net actuarial loss	10			18			—			1
Pension settlement charge	41			—			—			—
Net periodic benefit expense (income)	$	38		$	10		$	(2	)	$	(2	)
Contributions to benefit plans	$	—		$	—		$	—		$	—



	Year-To-Date Ended
	Pension Benefits						Other Postretirement Benefits
	December 3, 2016 (40 weeks)			December 5, 2015 (40 weeks)			December 3, 2016 (40 weeks)			December 5, 2015 (40 weeks)
Interest cost	$	66		$	81		$	1		$	3
Expected return on assets	(110		)	(108		)	—			—
Amortization of prior service benefit	—			—			(10		)	(12		)
Amortization of net actuarial loss	34			60			1			4
Pension settlement charge	41			—			—			—
Net periodic benefit expense (income)	$	31		$	33		$	(8	)	$	(5	)
Contributions to benefit plans	$	(2	)	$	(27	)	$	—		$	(11	)

Multiemployer Pension Plans

During fiscal 2017 and 2016 year-to-date, the Company contributed $31 and $31, respectively, to various multiemployer pension plans, primarily defined benefit pension plans, under collective bargaining agreements.

Pension Contributions

No minimum contributions are required to the Company's pension plans in fiscal 2017 in accordance with the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Company anticipates fiscal 2017 discretionary pension contributions and required minimum other postretirement benefit plan contributions will be approximately $30 to $35. In connection with the Sale, the Company entered into an agreement with the PBGC under which, among other things, the Company has agreed to make certain contributions to its qualified pension plan (the “SUPERVALU Retirement Plan”) in excess of any required minimum contributions. Subsequent to December 3, 2016, the Company contributed $25 to the SUPERVALU Retirement Plan pursuant to the agreement with the PBGC. In addition, under this same agreement with the PBGC, the Company is obligated to make additional payments of $25 and $10 on or before March 1, 2017 and November 15, 2017, respectively.

Lump Sum Pension Settlements

During the third quarter of fiscal 2017, the Company made lump sum settlement payments to certain deferred vested pension plan participants under a lump sum payment option window. The payments were equal to the present value of the participant’s pension benefits, and were made to certain former employees who were deferred vested participants in the SUPERVALU Retirement Plan, who had not yet begun receiving monthly pension benefit payments and who elected to participate in the lump sum payment option window. In fiscal 2017 year-to-date, the SUPERVALU Retirement Plan made lump sum settlement payments of approximately $195. The lump sum settlement payments resulted in a non-cash pension settlement charge of $41 from the acceleration of a portion of the accumulated unrecognized actuarial loss. As a result of the lump sum settlements, the SUPERVALU Retirement Plan assets and liabilities were re-measured at December 3, 2016 using a discount rate of 4.1 percent, an expected rate of return on plan assets of 6.5 percent and the RP-2014 Generational Mortality Table. The settlement and subsequent re-measurement resulted in a decrease to accumulated other comprehensive loss of $145 pre-tax ($98 after-tax) and a corresponding improvement to the SUPERVALU Retirement Plan's unfunded status.