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v3.19.3.a.u2

Retirement and Other Benefit Plans (Tables) | 12 Months Ended
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Nov. 01, 2019
Schedule of Net Pension Cost | Net pension cost consisted of the following:
|  | November 1, 2019 |  |  | November 2, 2018 |
|  | (52 Weeks) |  |  | (52 Weeks) |
Service cost |  | $ | 103 |  |  | $ | 126 |
Interest cost |  |  | 2,396 |  |  |  | 2,248 |
Expected return on plan assets |  |  | (3,414 | ) |  |  | (3,408 | )
Amortization of unrecognized loss |  |  | 1,236 |  |  |  | 1,575 |
Net pension cost |  | $ | 321 |  |  | $ | 541 |
Schedule of Assumptions Used | Weighted average assumptions for each fiscal year are as follows:
|  | 2019 |  |  | 2018 |
Discount rate |  |  | 3.00 | % |  |  | 4.30 | %
Rate of increase in salary levels |  |  | N/A |  |  |  | N/A |
Expected return on plan assets |  |  | 7.00 | % |  |  | 7.00 | %
Schedule of Changes in Projected Benefit Obligations | The benefit obligation, plan assets, and funded status of these plans as of the fiscal years ended are as follows:
|  | November 1, 2019 |  |  | November 2, 2018 |
|  | (52 Weeks) |  |  | (52 Weeks) |
Change in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets - beginning of year |  | $ | 49,434 |  |  | $ | 48,208 |
Employer contributions |  |  | 875 |  |  |  | 3,150 |
Actual return on plan assets |  |  | 5,402 |  |  |  | (242 | )
Benefits paid |  |  | (1,819 | ) |  |  | (1,682 | )
Fair value of plan assets - end of year |  | $ | 53,892 |  |  | $ | 49,434 |
Change in benefit obligations: |  |  |  |  |  |  |  |
Benefit obligations - beginning of year |  | $ | 57,487 |  |  | $ | 62,480 |
Service cost |  |  | 103 |  |  |  | 126 |
Interest cost |  |  | 2,396 |  |  |  | 2,248 |
Actuarial gain (loss) |  |  | 9,856 |  |  |  | (5,686 | )
Benefits paid |  |  | (1,820 | ) |  |  | (1,681 | )
Benefit obligations - end of year |  |  | 68,022 |  |  |  | 57,487 |
Funded status of the plans |  |  | (14,130 | ) |  |  | (8,053 | )
Unrecognized prior service costs |  |  | - |  |  |  | - |
Unrecognized net actuarial loss |  |  | 23,453 |  |  |  | 16,821 |
Net amount recognized |  | $ | 9,323 |  |  | $ | 8,768 |
Schedule of Allocation of Plan Assets | The actual and target allocation for plan assets are as follows:
Asset Class |  | 2019 |  |  | Target Asset Allocation |  |  | 2018 |  |  | Target Asset Allocation |
Large Cap Equities |  |  | 21.8 | % |  |  | 22.0 | % |  |  | 21.4 | % |  |  | 22.0 | %
Mid Cap Equities |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Small Cap Equities |  |  | 13.8 | % |  |  | 12.0 | % |  |  | 13.0 | % |  |  | 12.0 | %
International (equities only) |  |  | 25.2 | % |  |  | 26.0 | % |  |  | 24.7 | % |  |  | 26.0 | %
Fixed Income |  |  | 37.6 | % |  |  | 39.0 | % |  |  | 39.0 | % |  |  | 39.0 | %
Other (Government/Corporate, Bonds) |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Cash |  |  | 1.6 | % |  |  | 1.0 | % |  |  | 1.9 | % |  |  | 1.0 | %
Total |  |  | 100.0 | % |  |  | 100.0 | % |  |  | 100.0 | % |  |  | 100.0 | %
Schedule of Fair Value of Pension Plan Assets | The fair value of our pension plan assets as of November 1, 2019 and the level under which fair values were determined, using the hierarchy described in Note 1, is as follows:
|  | 2019 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Total plan assets |  | $ | 53,892 |  |  |  | - |  |  |  | - |  |  | $ | 53,892 |
Schedule of Health Care Cost Trend Rates | Weighted average assumptions for the fiscal years ended November 1, 2019 and November 2, 2018 are as follows:
|  | 2019 |  |  | 2018 |
Discount rate |  |  | 2.92 | % |  |  | 4.30 | %
Medical trend rate next year |  |  | 7.50 | % |  |  | 8.00 | %
Ultimate trend rate |  |  | 5.00 | % |  |  | 5.00 | %
Year ultimate trend rate is achieved |  |  | 2025 |  |  |  | 2024 |
Schedule of Net Funded Status | The healthcare obligation and funded status of this plan as of the fiscal years ended are as follows:
|  | 2019 |  |  | 2018 |
Change in accumulated postretirement healthcare obligation: |  |  |  |  |  |  |  |
Healthcare obligation - beginning of year |  | $ | 517 |  |  | $ | 528 |
Service cost |  |  | 9 |  |  |  | 13 |
Interest cost |  |  | 22 |  |  |  | 18 |
Actuarial gain |  |  | 44 |  |  |  | (40 | )
Benefits paid |  |  | (6 | ) |  |  | (2 | )
Healthcare obligation – end of year |  | $ | 586 |  |  | $ | 517 |
Funded status of the plans |  |  | 586 |  |  |  | 517 |
Unrecognized prior service costs |  |  | - |  |  |  | (44 | )
Unrecognized net actuarial gain |  |  | (58 | ) |  |  | (109 | )
Unrecognized amounts recorded in other comprehensive income |  |  | 58 |  |  |  | 153 |
Postretirement healthcare liability |  | $ | 586 |  |  | $ | 517 |
Pension Plan [Member] |
Schedule of Expected Payments for Pension Benefits | Expected payments for the pension benefits are as follows:
Fiscal Years |  | Pension Benefits |
2020 |  | $ | 2,376 |
2021 |  | $ | 2,545 |
2022 |  | $ | 2,694 |
2023 |  | $ | 2,873 |
2024 |  | $ | 3,034 |
2025-2029 |  | $ | 17,053 |
Executive Post-retirement Benefits [Member] |
Schedule of Expected Payments for Pension Benefits | Expected payments for executive postretirement benefits are as follows:
Fiscal Years |  | Executive Postretirement Benefits |
2020 |  | $ | 524 |
2021 |  | $ | 524 |
2022 |  | $ | 524 |
2023 |  | $ | 524 |
2024 |  | $ | 524 |
2025-2029 |  | $ | 2,619 |
Post-retirement Healthcare Benefits [Member] |
Schedule of Expected Payments for Pension Benefits | Expected payments for the postretirement benefits are as follows:
Fiscal Years |  | Postretirement Healthcare Benefits |
2020 |  | $ | 65 |
2021 |  | $ | 44 |
2022 |  | $ | 20 |
2023-2027 |  | $ | 103 |
Schedule Net Periodic Post-retirement Healthcare (benefit) Cost | Net periodic postretirement healthcare (benefit) consisted of the following:
|  | November 1. 2019 |  |  | November 2. 2018 |
|  | (52 Weeks) |  |  | (52 Weeks) |
Service cost |  | $ | 9 |  |  | $ | 13 |
Interest cost |  |  | 22 |  |  |  | 18 |
Amortization of prior service cost |  |  | (44 | ) |  |  | (132 | )
Amortization of actuarial gain |  |  | (7 | ) |  |  | (41 | )
Net periodic postretirement healthcare (benefit) |  | $ | (20 | ) |  | $ | (142 | )
One Percent Increase in Healthcare Cost Trend Rate [Member] |
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | The table below shows the estimated effect of a 1% increase in healthcare cost trend rate on the following:
|  | 2019 |  |  | 2018 |
Interest cost plus service cost |  | $ | 3 |  |  | $ | 4 |
Accumulated postretirement healthcare obligation |  | $ | 64 |  |  | $ | 54 |
One Percent Decrease In Healthcare Cost Trend Rate [Member] |
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | The table below shows the estimated effect of a 1% decrease in healthcare cost trend rate on the following:
|  | 2019 |  |  | 2018 |
Interest cost plus service cost |  | $ | (3 | ) |  | $ | (3 | )
Accumulated postretirement healthcare obligation |  | $ | (53 | ) |  | $ | (45 | )

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