Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v3.3.1.900
Pension and Other Postretirement Benefit Plans
 3 Months Ended
Dec. 31, 2015
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 December 31,
  
   
Pension
    
Other Postretirement
  
   
2015
    
2014
    
2015
    
2014
  
                 
Service cost
  
$
1,813
    
$
1,655
    
$
101
    
$
114
  
Interest cost
    
2,406
      
2,145
      
211
      
221
  
Expected return on plan assets
    
(2,407
)
    
(2,470
)
    
-
      
-
  
Amortization:
                                
   Prior service cost
    
(46
)
    
(45
)
    
(49
)
    
(49
)
   Net actuarial loss
    
1,866
      
1,564
      
-
      
-
  
                                 
Net benefit cost
  
$
3,632
    
$
2,849
    
$
263
    
$
286
  

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 2016.

Contributions made and anticipated for fiscal year 2016 are as follows:
 
Contributions
  
Pension
    
Other Postretirement
  
         
Contributions during the three months ended December 31, 2015:
        
   Supplemental retirement plan
  
$
181
    
$
-
  
   Other postretirement plan
    
-
      
451
  
                 
Additional contributions expected in fiscal 2016:
                
   Supplemental retirement plan
  
$
568
    
$
-
  
   Other postretirement plan
    
-
      
558