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Benefit Plans (Tables)
 12 Months Ended
Nov. 30, 2019
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligation
The following tables summarize the changes in the projected benefit obligation, the fair value of the assets and the funded status of the plan (in thousands):
 
Year Ended November 30,
 
2019

2018
Change in projected benefit obligation:
 
 
 
Projected benefit obligation, beginning of period
$
54,724

 
$
60,559

Service cost
500

 
400

Interest cost
2,303

 
2,129

Actuarial (gains)/losses
9,606

 
(3,777
)
Administrative expenses paid
(467
)
 
(502
)
Benefits paid
(3,444
)
 
(952
)
Settlements
—

 
(3,133
)
Projected benefit obligation, end of period
$
63,222

 
$
54,724

Change in plan assets:
 
 
 
Fair value of assets, beginning of period
$
48,176

 
$
52,949

Benefits paid
(3,444
)
 
(952
)
Administrative expenses paid
(467
)
 
(502
)
Actual return on plan assets
10,715

 
(1,186
)
Contributions
2,000

 
1,000

Settlements
—

 
(3,133
)
Fair value of assets, end of period
$
56,980

 
$
48,176

Funded status at end of period
$
(6,242
)
 
$
(6,548
)
Schedule of Amounts Recognized in Balance Sheet
The amounts recognized in our Consolidated Statements of Financial Condition are as follows (in thousands):
 
November 30,
 
2019
 
2018
Consolidated statements of financial condition:
 
 
 
Accrued expenses and other liabilities
$
6,242

 
$
6,548

Accumulated other comprehensive income, before taxes:
 
 
 
Net losses
$
(8,159
)
 
$
(6,382
)
Components of Net Periodic Pension (Benefit) Cost
The following tables summarize the components of net periodic pension cost and other amounts recognized in Other comprehensive income, before taxes (in thousands):
 
Year Ended November 30,
 
2019
 
2018
 
2017
Components of net periodic pension cost:
 
 
 
 
 
Service cost
$
500

 
$
400

 
$
450

Interest cost on projected benefit obligation
2,303

 
2,129

 
2,232

Expected return on plan assets
(3,008
)
 
(3,247
)
 
(3,021
)
Net amortization
122

 
—

 
19

Settlement losses
—

 
365

 
—

Net periodic pension cost
$
(83
)
 
$
(353
)
 
$
(320
)
Components of Net Periodic Pension Costs and Amounts Recognized in Other Comprehensive Income
 
Year Ended November 30,
 
2019
 
2018
 
2017
Amounts recognized in Other comprehensive income:
 
 
 
 
 
Net losses arising during the period
$
1,899

 
$
655

 
$
210

Amortization of net loss
(122
)
 
—

 
(19
)
Settlements during the period
—

 
(365
)
 
—

Total losses recognized in Other comprehensive income
$
1,777

 
$
290

 
$
191

Net losses/(gains) recognized in net periodic benefit cost and Other comprehensive income
$
1,694

 
$
(63
)
 
$
(129
)
Assumptions Used to Determine the Present Value of the Projected Benefit Obligations and Net Periodic Pension Costs
The assumptions used to determine the actuarial present value of the projected obligation and net periodic pension benefit cost are as follows:
 
Year Ended November 30,
 
2019
 
2018
 
2017
Discount rate used to determine benefit obligation
2.90
%
 
4.30
%
 
3.60
%
Weighted average assumptions used to determine net pension cost:
 
 
 
 
 
Discount rate
4.30
%
 
3.60
%
 
3.90
%
Expected long-term rate of return on plan assets
6.25
%
 
6.25
%
 
6.25
%
Expected Benefit Payments
Expected Benefit Payments - Expected benefit payments for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows (in thousands):
2020
$
2,244

2021
1,899

2022
2,886

2023
4,557

2024
4,442

2025 through 2029
23,286