Employee Benefit Plans

12 Months Ended

Oct. 31, 2015

Compensation and Retirement Disclosure [Abstract]

7. Employee Benefit Plans

We sponsor five defined contribution retirement plans for salaried and hourly employees. Expenses for these plans approximated $922,000, $943,000, and $807,000 for fiscal years 2015, 2014 and 2013, which are included in selling, general and administrative expenses in the accompanying financial statements.

We also sponsor a non-qualified defined benefit plan for two retired executives. Pension expenses, including actuarial losses, approximated $10,000, $9,000 and $12,000 for the year ended October 31, 2015, 2014, and 2013. These amounts are included in selling, general and administrative expenses in the accompanying financial statements.

Components of the change in projected benefit obligation for fiscal year ends consist of the following (in thousands):


	2015		2014
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	196	$	218
Interest cost		7		9
Actuarial loss		48		4
Benefits paid		(36)		(35)
Projected benefit obligation at end of year (unfunded)	$	215	$	196

The following is a reconciliation of the unfunded status of the plans at fiscal year ends included in accrued expenses (in thousands):


	2015		2014

Projected benefit obligation	$	215	$	196
Unrecognized net (gain) loss		-		-
Recorded pension liabilities	$	215	$	196

Significant assumptions used in the determination of pension expense consist of the following:


	2015		2014
Discount rate on projected benefit obligation	4.3	%	4.1	%