Quarterly report pursuant to Section 13 or 15(d)

Pension and Other Postretirement Benefit Plans

v3.20.4
Pension and Other Postretirement Benefit Plans
 3 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefit Plans 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
  2020 2019 2020 2019
Service cost $ 2,213  $ 2,170  $ 50  $ 64 
Interest cost * 1,548  1,933  94  140 
Expected return on plan assets * (2,763) (2,232) —  — 
Amortization:        
Prior service cost (17) (47) (91) (23)
Net actuarial loss * 3,021  2,387  —  — 
Net benefit cost $ 4,002  $ 4,211  $ 53  $ 181 
* Non-service components of pension and postretirement expense are included in other income (deductions), net.
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 required to make contributions of approximately $4,191 to its principal retirement plan in fiscal 2021. The Company is also currently evaluating potential additional contributions to its principal retirement plan during fiscal 2021.

Contributions made and anticipated for fiscal year 2021 are as follows:
Contributions Pension Other Postretirement
Contributions during the three months ended December 31, 2020:    
Supplemental retirement plan $ 203  $ — 
Other postretirement plan —  23 
Additional contributions expected in fiscal 2021:    
Principal retirement plan $ 4,191  $ — 
Supplemental retirement plan 702  — 
Other postretirement plan —  808