Defined Benefit Pension Plans

6 Months Ended

Oct. 31, 2016

Compensation and Retirement Disclosure [Abstract]

E. Defined Benefit Pension Plans

The Company has non-contributory defined benefit pension plans. These plans were amended as of April 30, 2005. No further benefits have been, or will be, earned under the plans, subsequent to the amendment date, and no additional participants will be added to the plans. Contributions of $555,000 were paid to the plans during the six months ended October 31, 2016 and the Company does not expect any contributions to be paid to the plans during the remainder of the fiscal year. Contributions of $64,000 were paid to the plans during the six months ended October 31, 2015.

Pension expense consisted of the following (in thousands):


	Three months ended October 31, 2016			Three months ended October 31, 2015
Service cost	$	-0-		$	-0-
Interest cost		232			230
Expected return on plan assets		(311	)		(344	)
Recognition of net loss		318			294

Net periodic pension expense	$	239		$	180


	Six months ended October 31, 2016			Six months ended October 31, 2015
Service cost	$	-0-		$	-0-
Interest cost		463			460
Expected return on plan assets		(621	)		(688	)
Recognition of net loss		628			588

Net periodic pension expense	$	470		$	360