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Retirement Plans
 3 Months Ended
Jan. 31, 2022
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 administered by Wells Fargo Bank and Mercer Human Resource Consulting. In fiscal year 2021, the Company terminated the Plan effective December 31, 2021.

The Plan was funded consistent with the funding requirements of federal law and regulations. There were no funding contributions during the three months ended January 31, 2022 and 2021. Plan assets are invested in a group trust consisting primarily of pooled funds, mutual funds, short-term investment funds and cash. 

The components of net periodic pension cost for the Plan for the three months ended January 31, 2022 and 2021 were as follows (in thousands):
 Three Months Ended
January 31,
 20222021
Administrative expenses$180 $69 
Interest cost130 137 
Expected return on plan assets(127)(236)
Prior service cost11 11 
Recognized actuarial loss99 185 
Net periodic benefit cost$293 $166