Employee Benefit Plans

The Company has both a defined benefit pension plan (the “pension plan”) and a postretirement benefit plan (the “postretirement plan”). The pension plan covers substantially all of the Company’s employees and provides retirement income based on years of service and employee compensation. The postretirement plan provides certain health care and supplemental life insurance benefits to retired employees who meet specific age and service requirements. Net pension plan and postretirement plan expense recorded by the Company is detailed as follows:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
Components of net periodic pension cost:
Service cost	$	176,669		$	173,594		$	530,007		$	520,782
Interest cost	248,900			283,194			746,700			849,582
Expected return on plan assets	(404,103		)	(373,060		)	(1,212,309		)	(1,119,180		)
Recognized loss	165,545			125,420			496,635			376,260
Net periodic pension cost	$	187,011		$	209,148		$	561,033		$	627,444



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
Components of postretirement benefit cost:
Service cost	$	45,817		$	37,005		$	137,451		$	111,015
Interest cost	156,706			156,145			470,118			468,435
Expected return on plan assets	(142,878		)	(126,965		)	(428,634		)	(380,895		)
Recognized loss	107,440			62,543			322,320			187,629
Net postretirement benefit cost	$	167,085		$	128,728		$	501,255		$	386,184

The table below reflects the Company's actual contributions made fiscal year-to-date and the expected contributions to be made during the balance of the current fiscal year.



	Fiscal Year-to-Date Contributions		Remaining Fiscal Year Contributions
Defined benefit pension plan	$	450,000	$	300,000
Postretirement medical plan	—		1,000,000
Total	$	450,000	$	1,300,000