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RETIREMENT PLANS | 9 Months Ended
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Jun. 30, 2023
Retirement Benefits [Abstract] |
RETIREMENT PLANS | RETIREMENT PLANS Barnwell sponsors a noncontributory defined benefit pension plan (“Pension Plan”) covering substantially all of its U.S. employees and a noncontributory Supplemental Executive Retirement Plan (“SERP”), which covers certain current and former employees of Barnwell for amounts exceeding the limits allowed under the Pension Plan. The following tables detail the components of net periodic benefit (income) cost for Barnwell’s retirement plans:
| Pension Plan |  | SERP
| Three months ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Interest cost | $ | 102,000 |  |  | $ | 73,000 |  |  | $ | 22,000 |  |  | $ | 15,000 |
Expected return on plan assets | (167,000) |  |  | (156,000) |  |  | — |  |  | — |
Amortization of net actuarial gain | — |  |  | — |  |  | (20,000) |  |  | — |
Net periodic benefit (income) cost | $ | (65,000) |  |  | $ | (83,000) |  |  | $ | 2,000 |  |  | $ | 15,000 |
| Pension Plan |  | SERP
| Nine months ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Interest cost | $ | 305,000 |  |  | $ | 218,000 |  |  | $ | 66,000 |  |  | $ | 45,000 |
Expected return on plan assets | (500,000) |  |  | (467,000) |  |  | — |  |  | — |
Amortization of net actuarial gain | — |  |  | — |  |  | (60,000) |  |  | — |
Net periodic benefit (income) cost | $ | (195,000) |  |  | $ | (249,000) |  |  | $ | 6,000 |  |  | $ | 45,000 |
The net periodic benefit (income) cost is included in “General and administrative” expenses in the Company's Condensed Consolidated Statements of Operations. Currently, no contributions are expected to be made to the Pension Plan during fiscal 2023. The SERP plan is unfunded and Barnwell funds benefits when payments are made. Expected payments under the SERP for fiscal 2023 are not material. Fluctuations in actual equity market returns as well as changes in general interest rates will result in changes in the market value of plan assets and may result in increased or decreased retirement benefits costs and contributions in future periods.

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