Defined Benefit Pension Plans

3 Months Ended

Jul. 31, 2020

The Company has non-contributory defined benefit pension plans covering substantially all domestic salaried and hourly employees. 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. There were no Company contributions paid to the plans during the three months ended July 31, 2020, and July 31, 2019. The Company currently expects to contribute $30,000 to the plans during the remainder of the fiscal year. The Company assumed an expected long-term rate of return of 7.75% for the periods ended July 31, 2020 and July 31, 2019. Pension expense consisted of the following (in thousands):



	Three Months Ended July 31, 2020			Three Months Ended July 31, 2019
Service cost	$	0		$	0
Interest cost	181			208
Expected return on plan assets	(321		)	(355		)
Recognition of net loss	428			260
Net periodic pension expense	$	288		$	113