Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 439

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 5
Chunk 439
---
    %

    4.0
    %
  
    Total

    100.0
    %

    100.0
    %

    100.0
    %

    100.0
    %

The fair value of our pension
plans’ assets as of November 1, 2024, and the level under which fair values were determined, using the hierarchy described in Note
1, is as follows: 

Schedule of Fair Value of Pension Plan Assets 

    2024

    Level 1

    Level 2

    Level 3

    Total

    Total plan assets
     
    $
    58,319

      -

      -

    $
    58,319

The fair value of our pension
plans’ assets as of November 3, 2023, and the level under which fair values were determined, using the hierarchy described in Note
1, is as follows: 

    2023

    Level 1

    Level 2

    Level 3

    Total

    Total plan assets
     
    $
    50,685

       -

       -

    $
    50,685

Expected payments for pension
benefits are as follows:

Schedule of Expected Payments for Pension Benefits 

    Fiscal Years
     
    Pension Benefits

    2025
     
    $
    3,439

    2026
     
    $
    3,529

    2027
     
    $
    3,619

    2028
     
    $
    3,669

    2029
     
    $
    3,700

    2030-2034
     
    $
    18,645

Executive Retirement Plans

Non-Qualified Deferred Compensation

Effective January 1, 1991,
we adopted a deferred compensation savings plan for certain key employees. Under this arrangement, selected employees contribute a portion
of their annual compensation to the plan. We contribute an amount to each participant’s account by computing an investment return
equal to Moody’s Average Seasoned Bond Rate plus 2%. Employees receive vested amounts upon death, termination, or attainment of
retirement age. No benefit expense was recorded under this plan for fiscal years 2024 and 2023.

Supplemental Executive Retirement Plan

Retirement benefits otherwise
available to certain key executives under the Primary Benefit