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EMPLOYEE BENEFIT PLANS
 9 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS
10. EMPLOYEE BENEFIT PLANS

Pension and Other Postemployment Benefit Plans

In January 2024, the Company announced changes to its postretirement medical benefits plan that replaces the existing retiree medical coverage for certain eligible employees and their dependents with an employer funded Health Reimbursement Arrangement. The liability associated with postretirement medical benefits was remeasured as of January 1, 2024. The change in post-retirement medical benefits is being amortized into earnings over approximately 8 years, the average remaining service to retirement for all plan participants.

The components of the net periodic cost for pension benefits, including the Company's Pension Equalization Plan, and OPEB costs (principally health care and life insurance) for employees and covered dependents were as follows:
PensionOPEB
Three Months EndedNine Months EndedThree Months EndedNine Months Ended
June 30,June 30,June 30,June 30,
(Thousands)20242023202420232024202320242023
Service cost$1,244 $1,350 $3,732 $4,051 $254 $618 $1,151 $1,854 
Interest cost4,060 3,794 12,180 11,381 1,809 2,286 6,519 6,859 
Expected return on plan assets(5,087)(4,993)(15,260)(14,979)(2,021)(1,680)(5,899)(5,041)
Recognized actuarial loss29 75 88 225 1,256 — 3,007 — 
Prior service cost (credit) amortization16 25 47 76 (3,339)— (6,676)— 
Net periodic benefit cost (credit)$262 $251 $787 $754 $(2,041)$1,224 $(1,898)$3,672 

The Company does not expect to make additional contributions to fund the pension plans during fiscal 2024 based on current actuarial assumptions; however, funding requirements are uncertain and can depend significantly on changes in actuarial assumptions, returns on plan assets and changes in the demographics of eligible employees and covered dependents. In addition, as in the past, the Company may elect to make contributions in excess of the minimum required amount to the plans. There were no discretionary contributions made during the nine months ended June 30, 2024 and 2023.