Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v2.4.0.8
Pension and Other Postretirement Benefit Plans
 6 Months Ended
Mar. 31, 2014
Pension and Other Postretirement Benefit Plans [Abstract]  
Pension and Other Postretirement Benefit Plans
Note 8.   Pension and Other Postretirement Benefit Plans
 
The Company provides defined benefit pension and other postretirement plans to certain employees. Net periodic pension and other postretirement benefit cost for the plans included the following:

 
  
Three months ended March 31,
  
 
  
Pension
    
Other Postretirement
  
 
  
2014
    
2013
    
2014
    
2013
  
 
  
   
   
   
 
Service cost
  
$
1,582
    
$
1,685
    
$
109
    
$
199
  
Interest cost
    
2,213
      
1,913
      
230
      
282
  
Expected return on plan assets
    
(2,396
)
    
(2,243
)
    
-
      
-
  
Amortization:
                                
Prior service cost
    
(52
)
    
(52
)
    
(21
)
    
(68
)
Net actuarial loss (gain)
    
991
      
1,806
      
(49
)
    
110
  
 
                                
Net benefit cost
  
$
2,338
    
$
3,109
    
$
269
    
$
523
  

 
  
Six months ended March 31,
  
 
  
Pension
    
Other Postretirement
  
 
  
2014
    
2013
    
2014
    
2013
  
 
  
   
   
   
 
Service cost
  
$
3,164
    
$
3,370
    
$
218
    
$
398
  
Interest cost
    
4,426
      
3,826
      
460
      
564
  
Expected return on plan assets
    
(4,792
)
    
(4,486
)
    
-
      
-
  
Amortization:
                                
Prior service cost
    
(104
)
    
(104
)
    
(43
)
    
(136
)
Net actuarial loss
    
1,982
      
3,612
      
(98
)
    
220
  
 
                                
Net benefit cost
  
$
4,676
    
$
6,218
    
$
537
    
$
1,046
  

Benefit payments under the Company’s principal retirement plan are made from plan assets, while benefit payments under the postretirement benefit plan are made from the Company’s operating funds.  Under IRS regulations, the Company is not required to make any significant contributions to its principal retirement plan in fiscal year 2014.

Contributions made and anticipated for fiscal year 2014 are as follows:

Contributions
  
Pension
    
Other
Postretirement
  
 
  
   
 
Contributions during the six months ended March 31, 2014:
  
   
 
Supplemental retirement plan
  
$
362
    
$
-
  
Other postretirement plan
    
-
      
464
  
 
                
Additional contributions expected in fiscal 2014:
                
Supplemental retirement plan
    
359
      
-
  
Other postretirement plan
    
-
      
462