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Pension and Other Postretirement Benefit Plans | 6 Months Ended
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Mar. 31, 2017
Compensation and Retirement Disclosure [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 March 31,
| Pension |  | Other Postretirement
| 2017 |  | 2016 |  | 2017 |  | 2016
Service cost | $ | 2,138 |  |  | $ | 1,813 |  |  | $ | 98 |  |  | $ | 101 |
Interest cost | 1,841 |  |  | 2,406 |  |  | 157 |  |  | 211 |
Expected return on plan assets | (2,312 | ) |  | (2,407 | ) |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | (45 | ) |  | (46 | ) |  | (49 | ) |  | (49 | )
Net actuarial loss | 2,509 |  |  | 1,866 |  |  | — |  |  | — |
Net benefit cost | $ | 4,131 |  |  | $ | 3,632 |  |  | $ | 206 |  |  | $ | 263 |
| Six months ended March 31,
| Pension |  | Other Postretirement
| 2017 |  | 2016 |  | 2017 |  | 2016
Service cost | $ | 4,276 |  |  | $ | 3,626 |  |  | $ | 196 |  |  | $ | 202 |
Interest cost | 3,682 |  |  | 4,812 |  |  | 314 |  |  | 422 |
Expected return on plan assets | (4,624 | ) |  | (4,814 | ) |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | (90 | ) |  | (92 | ) |  | (98 | ) |  | (98 | )
Net actuarial loss | 5,018 |  |  | 3,732 |  |  | — |  |  | — |
Net benefit cost | $ | 8,262 |  |  | $ | 7,264 |  |  | $ | 412 |  |  | $ | 526 |
Note 8. Pension and Other Postretirement Benefit Plans (continued) On September 30, 2016, the Company changed the method used to estimate the service and interest components of net periodic benefit cost for its pensions. Historically, the Company estimated these service and interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. Matthews has elected to utilize a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. This change is being made to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot yield curve rates. This change does not affect the measurement of the total benefit obligations. The Company has accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly, is recognizing its effects prospectively beginning in fiscal 2017. The impact of this change was not material for the three and six months ended March 31, 2017. 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 $5,109 to its principal retirement plan in fiscal year 2017. Contributions made and anticipated for fiscal year 2017 are as follows:
Contributions |  | Pension |  | Other Postretirement
Contributions during the six months ended March 31, 2017: |  |  |  |
Principal retirement plan |  | $ | — |  |  | $ | — |
Supplemental retirement plan |  | 362 |  |  | — |
Other postretirement plan |  | — |  |  | 456 |
Additional contributions expected in fiscal 2017: |  |  |  |  |  |
Principal retirement plan |  | $ | 5,109 |  |  | $ | — |
Supplemental retirement plan |  | 398 |  |  | — |
Other postretirement plan |  | — |  |  | 692 |

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