Note 10 - Post Employment Benefit Obligations

9 Months Ended

Aug. 29, 2015

Notes to Financial Statements

Postemployment Benefits Disclosure [Text Block]

10. 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 $10,323 and $10,376 as of August 29, 2015 and November 29, 2014, respectively, and is recorded as follows in the condensed consolidated balance sheets:

	August 29, 2015		November 29, 2014
Accrued compensation and benefits	$	724	$	724
Post employment benefit obligations		9,599		9,652
Total pension liability	$	10,323	$	10,376

Components of net periodic pension costs are as follows:

	Quarter Ended				Nine Months Ended
	August 29, 2015		August 30, 2014		August 29, 2015		August 30, 2014
Service cost	$	26	$	20	$	78	$	59
Interest cost		94		93		281		279
Amortization of transition obligation		11		10		32		32
Amortization of loss		49		31		146		92
Net periodic pension cost	$	180	$	154	$	537	$	462

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. Our liability under this plan was $2,081 and $2,174 as of August 29, 2015 and November 29, 2014, respectively, and is recorded as follows in the condensed consolidated balance sheets:

	August 29, 2015		November 29, 2014
Accrued compensation and benefits	$	328	$	328
Post employment benefit obligations		1,753		1,846
Total deferred compensation liability	$	2,081	$	2,174

During the third quarter of fiscal 2014, we recorded a credit to income of $124 due to a change in our estimate of the future obligation of a former employee. We recognized expense (income) under this plan during the three and nine months ended August 29, 2015 and August 30, 2014 as follows:

	Quarter Ended					Nine Months Ended
	August 29, 2015		August 30, 2014			August 29, 2015		August 30, 2014
Deferred compensation expense (income)	$	54	$	(52	)	$	162	$	92