Note 10 - Post Employment Benefit Obligations

9 Months Ended

Aug. 27, 2016

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 $11,693 and $11,678 as of August 27, 2016 and November 28, 2015, respectively, and is recorded as follows in the condensed consolidated balance sheets:

	August 27, 2016		November 28, 2015
Accrued compensation and benefits	$	749	$	749
Post employment benefit obligations		10,944		10,929
Total pension liability	$	11,693	$	11,678

Components of net periodic pension costs are as follows:

	Quarter Ended				Nine Months Ended
	August 27, 2016		August 29, 2015		August 27, 2016		August 29, 2015
Service cost	$	36	$	26	$	109	$	78
Interest cost		106		94		317		281
Amortization of transition obligation		11		11		32		32
Amortization of loss		81		49		243		146
Net periodic pension cost	$	234	$	180	$	701	$	537

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 $2,010 and $2,085 as of August 27, 2016 and November 28, 2015, respectively, and is recorded as follows in the condensed consolidated balance sheets:

	August 27, 2016		November 28, 2015
Accrued compensation and benefits	$	320	$	320
Post employment benefit obligations		1,690		1,765
Total deferred compensation liability	$	2,010	$	2,085

We recognized expense under this plan during the three and nine months ended August 27, 2016 and August 29, 2015 as follows:

	Quarter Ended				Nine Months Ended
	August 27, 2016		August 29, 2015		August 27, 2016		August 29, 2015
Deferred compensation expense	$	57	$	54	$	171	$	162