Note 12 - Post-Employment Benefit Obligations

6 Months Ended

May 26, 2012

Postemployment Benefits Disclosure [Text Block]

12.  Post-Employment Benefit Obligations

We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers one current and certain former executives.  The liability for this plan was $9,211 and $9,326 as of May 26, 2012 and November 26, 2011, respectively, and is recorded as follows in the condensed consolidated balance sheets:

	May 26, 2012		November 26, 2011
Other accrued liabilities	$	866	$	866
Post employment benefit obligations		8,345		8,460
Total pension liability	$	9,211	$	9,326

Components of net periodic pension costs are as follows:

	Quarter Ended				Six Months Ended
	May 26, 2012		May 28, 2011		May 26, 2012		May 28, 2011
Service cost	$	14	$	12	$	27	$	24
Interest cost		94		105		188		210
Amortization of transition obligation		11		11		21		22
Amortization of actuarial loss		3		-		5		-
Net periodic pension cost	$	122	$	128	$	241	$	256

We have an unfunded Deferred Compensation Plan that covers one current executive and certain former executives and provides for voluntary deferral of compensation. This plan has been frozen with no additional participants or deferrals permitted. We recognized expense of $78 and $83 for the quarters ended May 26, 2012 and May 28, 2011 respectively, and $156 and $166 for the six months ended May 26, 2012 and May 28, 2011 respectively.  Our liability under this plan was $2,670 and $2,766 as of May 26, 2012 and November 26, 2011, respectively, and is reflected in post employment benefit obligations.