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Employee Benefit Plans (Tables)
 12 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Participation and Contributions to Multiemployer Pension Plans

 

 

 

 

Pension Protection
Act Zone
Status

 

FIP / RP Status

 

Company
Contributions
(in thousands)

 

 

 

 

 

Pension Fund

 

EIN
/ Pension Plan
Number

 

2025

 

2024

 

Pending / Implemented

 

2025

 

 

2024

 

 

2023

 

 

Surcharge
Imposed

 

Expiration Date
of Collective-
Bargaining
Agreements

New England Teamsters and Trucking Industry Pension Fund

 

04-6372430/ 001

 

Red

 

Red

 

Yes / Implemented

 

 

2,616

 

 

 

2,627

 

 

 

2,721

 

 

No

 

8/31/27 to 3/31/30

Westchester Teamsters Pension Fund

 

13-6123973/ 001

 

Green

 

Green

 

N/A

 

 

1,420

 

 

 

921

 

 

 

964

 

 

No

 

1/31/29 to 12/31/29

Local 553 Pension Fund

 

13-6637826/ 001

 

Green

 

Green

 

N/A

 

 

2,440

 

 

 

2,457

 

 

 

2,516

 

 

No

 

12/15/25 to 1/15/26

Local 463 Pension Fund

 

11-1800729/ 001

 

Green

 

Green

 

N/A

 

 

114

 

 

 

119

 

 

 

125

 

 

No

 

2/28/26 to 6/30/28

IAM National Pension Fund

 

51-6031295/ 002

 

Red

 

Red

 

Yes / Implemented

 

 

2,446

 

 

 

2,749

 

 

 

2,477

 

 

Yes

 

6/30/26 to 9/30/28

Teamsters Local 469 Pension Plan

 

22-6172237 / 001

 

Red

 

Red

 

Yes / Implemented

 

 

11

 

 

 

11

 

 

 

18

 

 

No

 

8/31/2027

Local 445 Pension Fund

 

13-1864489/ 001

 

Red

 

Red

 

Yes / Implemented

 

 

10

 

 

 

7

 

 

 

9

 

 

No

 

10/31/2029

All Other Multiemployer Pension Plans

 

 

 

 

 

 

 

 

 

 

580

 

 

 

444

 

 

 

481

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Contributions

 

$

9,637

 

 

$

9,335

 

 

$

9,311

 

 

 

 

 
Net Periodic Benefit Cost for Period Reconciliation of Changes in Plan Assets Projected Benefit Obligations and Amounts Recognized in Other Comprehensive Income and Accumulated Other Comprehensive Income

The following table provides the net periodic benefit cost for the period, a reconciliation of the changes in the Plan assets, projected benefit obligations, and the amounts recognized in other comprehensive income and accumulated other comprehensive income at the dates indicated using a measurement date of September 30 (in thousands).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Pension

 

 

 

Net Periodic

 

 

 

 

 

Fair

 

 

 

 

 

 

 

 

Related

 

 

 

Pension

 

 

 

 

 

Value of

 

 

 

 

 

 

 

 

Accumulated

 

 

 

Cost in

 

 

 

 

 

Pension

 

 

Projected

 

 

Other

 

 

Other

 

 

 

Income

 

 

 

 

 

Plan

 

 

Benefit

 

 

Comprehensive

 

 

Comprehensive

 

Debit / (Credit)

 

Statement

 

 

Cash

 

 

Assets

 

 

Obligation

 

 

(Income) / Loss

 

 

Income

 

Fiscal Year 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

 

 

 

 

 

 

$

47,454

 

 

$

(44,253

)

 

 

 

 

$

11,928

 

Funded status at the end of the year

 

 

 

 

 

 

 

 

 

 

$

3,201

 

 

 

 

 

 

 

Fiscal Year 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

 

2,312

 

 

 

 

 

 

 

 

 

(2,312

)

 

 

 

 

 

 

Actual return on plan assets

 

 

(1,196

)

 

 

 

 

 

1,196

 

 

 

 

 

 

 

 

 

 

Employer contributions

 

 

 

 

 

(64

)

 

 

64

 

 

 

 

 

 

 

 

 

 

Benefit payments

 

 

 

 

 

 

 

 

(3,936

)

 

 

3,936

 

 

 

 

 

 

 

Investment and other expenses

 

 

 

 

 

 

 

 

(572

)

 

 

572

 

 

 

 

 

 

 

Difference between actual and expected return on plan assets

 

 

(635

)

 

 

 

 

 

 

 

 

 

 

 

635

 

 

 

 

Actuarial gain

 

 

 

 

 

 

 

 

 

 

 

572

 

 

 

(572

)

 

 

 

Amortization of unrecognized net actuarial loss

 

 

1,526

 

 

 

 

 

 

 

 

 

 

 

 

(1,526

)

 

 

 

Annual cost/change

 

$

2,007

 

 

$

(64

)

 

 

(3,248

)

 

 

2,768

 

 

$

(1,463

)

 

 

(1,463

)

Ending balance

 

 

 

 

 

 

 

$

44,206

 

 

$

(41,485

)

 

 

 

 

$

10,465

 

Funded status at the end of the year

 

 

 

 

 

 

 

 

 

 

$

2,721

 

 

 

 

 

 

 

Fiscal Year 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

 

2,133

 

 

 

 

 

 

 

 

 

(2,133

)

 

 

 

 

 

 

Actual return on plan assets

 

 

(6,672

)

 

 

 

 

 

6,672

 

 

 

 

 

 

 

 

 

 

Benefit payments

 

 

 

 

 

 

 

 

(3,649

)

 

 

3,649

 

 

 

 

 

 

 

Investment and other expenses

 

 

 

 

 

 

 

 

(239

)

 

 

239

 

 

 

 

 

 

 

Difference between actual and expected return on plan assets

 

 

4,558

 

 

 

 

 

 

 

 

 

 

 

 

(4,558

)

 

 

 

Actuarial loss

 

 

 

 

 

 

 

 

 

 

 

(4,544

)

 

 

4,544

 

 

 

 

Amortization of unrecognized net actuarial loss

 

 

1,277

 

 

 

 

 

 

 

 

 

 

 

 

(1,277

)

 

 

 

Annual cost/change

 

$

1,296

 

 

$

—

 

 

 

2,784

 

 

 

(2,789

)

 

$

(1,291

)

 

 

(1,291

)

Ending balance

 

 

 

 

 

 

 

$

46,990

 

 

$

(44,274

)

 

 

 

 

$

9,174

 

Funded status at the end of the year

 

 

 

 

 

 

 

 

 

 

$

2,716

 

 

 

 

 

 

 

Fiscal Year 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

 

1,968

 

 

 

 

 

 

 

 

 

(1,968

)

 

 

 

 

 

 

Actual return on plan assets

 

 

(1,009

)

 

 

 

 

 

1,009

 

 

 

 

 

 

 

 

 

 

Benefit payments

 

 

 

 

 

 

 

 

(3,969

)

 

 

3,969

 

 

 

 

 

 

 

Investment and other expenses

 

 

 

 

 

 

 

 

(485

)

 

 

485

 

 

 

 

 

 

 

Difference between actual and expected return on plan assets

 

 

(759

)

 

 

 

 

 

 

 

 

 

 

 

759

 

 

 

 

Actuarial gain

 

 

 

 

 

 

 

 

 

 

 

499

 

 

 

(499

)

 

 

 

Amortization of unrecognized net actuarial loss

 

 

1,728

 

 

 

 

 

 

 

 

 

 

 

 

(1,728

)

 

 

 

Annual cost/change

 

$

1,928

 

 

$

—

 

 

 

(3,445

)

 

 

2,985

 

 

$

(1,468

)

 

 

(1,468

)

Ending balance

 

 

 

 

 

 

 

$

43,545

 

 

$

(41,289

)

 

 

 

 

$

7,706

 

Funded status at the end of the year

 

 

 

 

 

 

 

 

 

 

$

2,256

 

 

 

 

 

 

 
Weighted-Average Assumptions Used in Measurement of Partnership's Benefit Obligation

 

 

September 30,

Weighted-Average Assumptions Used in the Measurement of the Company’s Benefit Obligation

 

2025

 

2024

 

2023

Discount rate at year end date

 

5.10%

 

4.70%

 

5.85%

Expected return on plan assets for the year ended

 

5.10%

 

5.20%

 

4.56%

Rate of compensation increase

 

N/A

 

N/A

 

N/A
Fair Values and Percentage of Company's Pension Plan Assets by Asset Category The fair values and percentage of the Company’s pension plan assets by asset category are as follows (in thousands):

 

 

 

September 30,

 

 

2025

 

2024

 

 

 

 

 

 

 

Concentration

 

 

 

 

 

 

Concentration

Asset Category

 

Level 1

 

Level 2

 

 

Percentage

 

Level 1

 

Level 2

 

 

Percentage

Corporate and U.S. government bond fund (1)

 

$

—

 

$

38,632

 

 

88.7%

 

$

—

 

$

41,330

 

 

88.0%

U.S. large-cap equity (1)

 

 

4,797

 

 

—

 

 

11.0%

 

 

5,660

 

 

—

 

 

12.0%

Cash

 

 

116

 

 

—

 

 

0.3%

 

 

—

 

 

—

 

 

0.0%

Total

 

$

4,913

 

$

38,632

 

 

100.0%

 

$

5,660

 

$

41,330

 

 

100.0%

 

(1)
Represent investments in Principal funds at September 30, 2025 and September 30, 2024.