Pension Benefits

3 Months Ended

Jul. 31, 2020

Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]

Pension Benefits

Pension Benefits

Prior to April 30, 2020, the Company had two defined benefit pension plans covering many of the Company's employees hired prior to April 30, 2012. Effective April 30, 2012, the Company froze all future benefit accruals under the Company’s defined-benefit pension plan. Effective April 30, 2020, these plans were merged into one plan.

Net periodic pension benefit cost consisted of the following for the three-month periods ended July 31, 2020 and 2019: 

	Three Months Ended
	July 31,
(in thousands)	2020		2019
Interest cost	$	1,165	$	1,493
Expected return on plan assets	(2,107)		(2,081)
Recognized net actuarial loss	440		423
Net periodic pension benefit	$	(502)	$	(165)

The Company did not contribute to its pension plan in the first three months of fiscal 2021 and does not expect to contribute any funds during the remainder of fiscal 2021. The Company made contributions of $0.5 million to its pension plans in fiscal 2020.