Post Employment Benefit Obligations

Defined Benefit Plans

We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers

one

current and certain former executives. The liability for the Supplemental Plan was

$11,188

and

$11,337

as of

August 25, 2018

and

November 25, 2017,

respectively.

We also have the Bassett Furniture Industries, Incorporated Management Savings Plan (the “Management Savings Plan”) which was established in the

second

quarter of fiscal

2017.

The Management Savings Plan is an unfunded, nonqualified deferred compensation plan maintained for the benefit of certain highly compensated or management level employees. As part of the Management Savings Plan, we have made Long Term Cash Awards (“LTC Awards”) totaling

$2,000

to certain management employees in the amount of

$400

each. The liability for the LTC Awards was

$1,055

and

$985

as of

August 25, 2018

and

November 25, 2017,

respectively.

The combined pension liability for the Supplemental Plan and LTC Awards is recorded as follows in the condensed consolidated balance sheets:

	August 25, 2018		November 25, 2017
Accrued compensation and benefits	$	778	$	778
Post employment benefit obligations		11,465		11,544

Total pension liability	$	12,243	$	12,322

Components of net periodic pension costs for our defined benefit plans for the

three

and

nine

months ended

August 25, 2018

and

August 26, 2017

are as follows:

	Quarter Ended				Nine Months Ended
	August 25, 2018		August 26, 2017		August 25, 2018		August 26, 2017
Service cost	$	49	$	49	$	147	$	136
Interest cost		105		114		315		336
Amortization of prior service costs		31		24		93		49
Amortization of transition obligation		11		11		33		32
Amortization of loss		65		83		195		249

Net periodic pension cost	$	261	$	281	$	783	$	802

The components of net periodic pension cost other than the service cost component are included in other loss, net in our condensed consolidated statements of income.

Deferred Compensation Plan

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

additional participants or deferrals permitted. Our liability under this plan was

$1,857

and

$1,916

as of

August 25, 2018

and

November 25, 2017,

respectively.

We also have an unfunded, nonqualified deferred compensation plan maintained for the benefit of certain highly compensated or management level employees which was established under the Management Savings Plan in the

second

quarter of fiscal

2017.

Our liability under this plan, including both accrued Company contributions and participant salary deferrals, was

$629

and

$139

as of

August 25, 2018

and

November 25, 2017,

respectively.

Our combined liability for all deferred compensation arrangements, including Company contributions and participant deferrals under the Management Savings Plan, is recorded as follows in the condensed consolidated balance sheets:

	August 25, 2018		November 25, 2017
Accrued compensation and benefits	$	274	$	274
Post employment benefit obligations		2,212		1,782

Total deferred compensation liability	$	2,486	$	2,056

We recognized expense under our deferred compensation arrangements during the

three

and

nine

months ended

August 25, 2018

and

August 26, 2017

as follows:

	Quarter Ended				Nine Months Ended
	August 25, 2018		August 26, 2017		August 25, 2018		August 26, 2 017
Deferred compensation expense	$	161	$	68	$	320	$	203