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Interim Pension and Other Postretirement Benefit Plan Information | 9 Months Ended
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Jun. 30, 2017
General Discussion of Pension and Other Postretirement Benefits [Abstract] |
Interim Pension and Postretirement Benefit Plans | Interim Pension and Other Postretirement Benefit Plan Information The components of our net periodic pension cost for our pension and other postretirement benefit plans for the three and nine months ended June 30, 2017 and 2016 are presented in the following table. Most of these costs are recoverable through our tariff rates; however, a portion of these costs is capitalized into our rate base. The remaining costs are recorded as a component of operation and maintenance expense.
| Three Months Ended June 30
| Pension Benefits |  | Other Benefits
| 2017 |  | 2016 |  | 2017 |  | 2016
| (In thousands)
Components of net periodic pension cost: |  |  |  |  |  |  |
Service cost | $ | 5,216 |  |  | $ | 4,698 |  |  | $ | 3,109 |  |  | $ | 2,705 |
Interest cost | 6,296 |  |  | 7,095 |  |  | 2,669 |  |  | 3,106 |
Expected return on assets | (6,993 | ) |  | (6,881 | ) |  | (1,796 | ) |  | (1,566 | )
Amortization of transition obligation | — |  |  | — |  |  | — |  |  | 21 |
Amortization of prior service credit | (57 | ) |  | (57 | ) |  | (411 | ) |  | (411 | )
Amortization of actuarial (gain) loss | 4,248 |  |  | 3,319 |  |  | (706 | ) |  | (541 | )
Net periodic pension cost | $ | 8,710 |  |  | $ | 8,174 |  |  | $ | 2,865 |  |  | $ | 3,314 |
| Nine Months Ended June 30
| Pension Benefits |  | Other Benefits
| 2017 |  | 2016 |  | 2017 |  | 2016
| (In thousands)
Components of net periodic pension cost: |  |  |  |  |  |  |
Service cost | $ | 15,649 |  |  | $ | 14,093 |  |  | $ | 9,327 |  |  | $ | 8,117 |
Interest cost | 18,890 |  |  | 21,284 |  |  | 8,009 |  |  | 9,318 |
Expected return on assets | (20,981 | ) |  | (20,642 | ) |  | (5,389 | ) |  | (4,698 | )
Amortization of transition obligation | — |  |  | — |  |  | — |  |  | 62 |
Amortization of prior service credit | (173 | ) |  | (170 | ) |  | (1,233 | ) |  | (1,233 | )
Amortization of actuarial (gain) loss | 12,746 |  |  | 9,959 |  |  | (2,120 | ) |  | (1,625 | )
Net periodic pension cost | $ | 26,131 |  |  | $ | 24,524 |  |  | $ | 8,594 |  |  | $ | 9,941 |
The assumptions used to develop our net periodic pension cost for the three and nine months ended June 30, 2017 and 2016 are as follows:
|  | Pension Benefits |  | Other Benefits
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Discount rate |  | 3.73% |  | 4.55% |  | 3.73% |  | 4.55%
Rate of compensation increase |  | 3.50% |  | 3.50% |  | N/A |  | N/A
Expected return on plan assets |  | 7.00% |  | 7.00% |  | 4.45% |  | 4.45%
The discount rate used to compute the present value of a plan’s liabilities generally is based on rates of high-grade corporate bonds with maturities similar to the average period over which the benefits will be paid. Generally, our funding policy has been to contribute annually an amount in accordance with the requirements of the Employee Retirement Income Security Act of 1974. In accordance with the Pension Protection Act of 2006 (PPA), we determined the funded status of our plan as of January 1, 2017. Based on that determination, we are not required to make a minimum contribution to our defined benefit plan during fiscal 2017; however, we made a voluntary contribution of $5.0 million during the third quarter of fiscal 2017. We contributed $9.9 million to our other post-retirement benefit plans during the nine months ended June 30, 2017. We expect to contribute a total of between $10 million and $20 million to these plans during fiscal 2017.

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