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 (income) cost for Barnwell’s retirement plans:



	Pension Plan						SERP						Postretirement Medical
	Three months ended June 30,
	2019			2018			2019			2018			2019		2018
Service cost	$	41,000		$	54,000		$	6,000		$	10,000		$	—	$	—
Interest cost	92,000			88,000			16,000			19,000			25,000		19,000
Expected return on plan assets	(165,000		)	(147,000		)	—			—			—		—
Amortization of prior service cost (credit)	2,000			2,000			(2,000		)	(1,000		)	—		—
Amortization of net actuarial loss (gain)	(3,000		)	25,000			(1,000		)	3,000			13,000		2,000
Net periodic benefit (income) cost	$	(33,000	)	$	22,000		$	19,000		$	31,000		$	38,000	$	21,000



	Pension Plan						SERP						Postretirement Medical
	Nine months ended June 30,
	2019			2018			2019			2018			2019		2018
Service cost	$	141,000		$	162,000		$	24,000		$	30,000		$	—	$	—
Interest cost	279,000			266,000			58,000			57,000			75,000		57,000
Expected return on plan assets	(486,000		)	(443,000		)	—			—			—		—
Amortization of prior service cost (credit)	5,000			5,000			(4,000		)	(4,000		)	—		—
Amortization of net actuarial loss	1,000			74,000			1,000			10,000			39,000		8,000
Net periodic benefit (income) cost	$	(60,000	)	$	64,000		$	79,000		$	93,000		$	114,000	$	65,000

The components of net periodic benefit (income) cost, including service cost, are included in “General and administrative” expenses in the Company's Condensed Consolidated Statements of Operations.

Barnwell contributed $115,000 to the Pension Plan during the nine months ended June 30, 2019 and estimates that it will not make any further cash contributions during the remainder of fiscal 2019. 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 2019 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.