RETIREMENT PLANS

Barnwell sponsors a noncontributory defined benefit pension plan (“Pension Plan”) covering substantially all of its U.S. employees. Additionally, Barnwell sponsors a Supplemental Employee Retirement Plan (“SERP”), a noncontributory supplemental retirement benefit plan which covers certain current and former employees of Barnwell for amounts exceeding the limits allowed under the Pension Plan, and a postretirement medical insurance benefits plan (“Postretirement Medical”) covering eligible U.S. employees.

The following tables detail the components of net periodic benefit cost for Barnwell’s retirement plans:



	Pension Plan						SERP						Postretirement Medical
	Three months ended June 30,
	2018			2017			2018			2017			2018		2017
Service cost (credit)	$	54,000		$	34,000		$	10,000		$	(5,000	)	$	—	$	—
Interest cost	88,000			78,000			19,000			1,000			19,000		22,000
Expected return on plan assets	(147,000		)	(122,000		)	—			—			—		—
Amortization of prior service cost (credit)	2,000			2,000			(1,000		)	(2,000		)	—		—
Amortization of net actuarial loss	25,000			21,000			3,000			(17,000		)	2,000		47,000
Net periodic benefit cost	$	22,000		$	13,000		$	31,000		$	(23,000	)	$	21,000	$	69,000



	Pension Plan						SERP						Postretirement Medical
	Nine months ended June 30,
	2018			2017			2018			2017			2018		2017
Service cost	$	162,000		$	178,000		$	30,000		$	26,000		$	—	$	—
Interest cost	266,000			252,000			57,000			42,000			57,000		66,000
Expected return on plan assets	(443,000		)	(404,000		)	—			—			—		—
Amortization of prior service cost (credit)	5,000			4,000			(4,000		)	(4,000		)	—		—
Amortization of net actuarial loss	74,000			103,000			10,000			—			8,000		141,000
Net periodic benefit cost	$	64,000		$	133,000		$	93,000		$	64,000		$	65,000	$	207,000

Barnwell contributed $200,000 to the Pension Plan during the nine months ended June 30, 2018 and estimates that it will make further contributions of approximately $300,000 during the remainder of fiscal 2018. The SERP and Postretirement Medical plans are unfunded, and Barnwell funds benefits when payments are made. Expected payments under the Postretirement Medical plan and the SERP for fiscal 2018 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.