Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 280

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 2
Chunk 280
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 of these plans as of the fiscal years ended are as follows:

Schedule of Changes in Projected Benefit Obligations 

    November 1, 2024  
    November 3, 2023 

    (52 Weeks)  
    (53 Weeks) 
  
    Change in plan assets: 

    Fair value of the plans’ assets - beginning of year 
    $50,685  
    $50,649 
  
    Actual return on the plans’ assets 
     10,208  
     2,394 
  
    Benefits paid 
     (2,574) 
     (2,358)
  
    Fair value of the plans’ assets - end of year 
    $58,319  
    $50,685 
  
    Change in benefit obligations: 

    Benefit obligations - beginning of year 
    $48,800  
    $50,098 
  
    Service cost 
     56  
     57 
  
    Interest cost 
     2,813  
     2,688 
  
    Actuarial gain (loss) 
     4,012  
     (1,686)
  
    Benefits paid 
     (2,574) 
     (2,357)
  
    Benefit obligations - end of year 
     53,107  
     48,800 
  
    Funded status of the plans 
     5,212  
     1,885 
  
    Unrecognized net actuarial loss 
     4,103  
     7,216 
  
    Net amount recognized 
    $9,315  
    $9,101 

We perform an internal rate
of return analysis when making the discount rate selection. The discount rates were based on FTSE Pension Discount Curve (formerly Citibank)
as of November 1, 2024, and November 3, 2023, respectively.

The plans’ assets are
primarily invested in marketable equity securities, corporate and government debt securities, and the assets are administered by an investment
management company. The plans’ long-term return on assets is based on the weighted average of the plans’ investment allocation
as of the measurement date and the published historical returns for those types of asset categories, taking into consideration inflation
rate forecasts. No expected employer contribution to the plans in fiscal year 2025 is planned.

For fiscal year 2024,