Note 12 - Post-Employment Benefit Obligations

9 Months Ended

Aug. 25, 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 $9,154 and $9,326 as of August 25, 2012 and November 26, 2011, respectively, and is recorded as follows in the condensed consolidated balance sheets:

Components of net periodic pension costs are as follows:

	August 25, 2012		November 26, 2011
Other accrued liabilities	$	866	$	866
Post employment benefit obligations		8,288		8,460
Total pension liability	$	9,154	$	9,326

Components of net periodic pension costs are as follows:

	Quarter Ended				Nine Months Ended
	August 25, 2012		August 27, 2011		August 25, 2012		August 27, 2011
Service cost	$	14	$	12	$	41	$	36
Interest cost		94		105		282		315
Amortization of transition obligation		11		11		32		33
Amortization of actuarial loss		3		-		8		-
Net periodic pension cost	$	122	$	128	$	363	$	384

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 August 25, 2012 and August 27, 2011 respectively, and $234 and $249 for the nine months ended August 25, 2012 and August 27, 2011 respectively.  Our liability under this plan was $2,631 and $2,818 as of August 25, 2012 and November 26, 2011, respectively, and is reflected in post employment benefit obligations.