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Retirement Plans
6 Months Ended
Apr. 30, 2021
Retirement Benefits [Abstract]  
Retirement Plans Retirement Plans
The Limoneira Company Retirement Plan (the “Plan”) is a noncontributory, defined benefit, single employer pension plan, which provides retirement benefits for all eligible employees. Benefits paid by the Plan are calculated based on years of service, highest five-year average earnings, primary Social Security benefit and retirement age. Effective June 2004, the Company froze the Plan and no additional benefits accrued to participants subsequent to that date.

The Plan is funded consistent with the funding requirements of federal law and regulations. There were no funding contributions during the six months ended April 30, 2021 and 2020. 

The components of net periodic pension cost for the Plan for the three and six months ended April 30, 2021 and 2020 were as follows (in thousands):
 Three Months Ended
April 30,
Six Months Ended
April 30,
 2021202020212020
Administrative expenses$69 $69 $138 $139 
Interest cost138 161 275 321 
Expected return on plan assets(236)(247)(472)(495)
Prior service cost11 11 22 22 
Recognized actuarial loss184 185 368 370 
Net periodic benefit cost$166 $179 $331 $357