RETIREMENT PLANS

6 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

RETIREMENT PLANS

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 table details the components of net periodic benefit cost for Barnwell’s retirement plans:

	Pension Plan						SERP						Postretirement Medical
	Three months ended March 31,
	2015			2014			2015			2014			2015			2014
Service cost	$	77,000		$	59,000		$	16,000		$	11,000		$	—		$	3,000
Interest cost	91,000			84,000			20,000			17,000			13,000			14,000
Expected return on plan assets	(125,000		)	(105,000		)	—			—			—			—
Amortization of prior service cost (credit)	2,000			2,000			(1,000		)	(2,000		)	—			3,000
Amortization of net actuarial loss (gain)	22,000			9,000			6,000			1,000			(2,000		)	(5,000		)
Net periodic benefit cost	$	67,000		$	49,000		$	41,000		$	27,000		$	11,000		$	15,000

	Pension Plan						SERP						Postretirement Medical
	Six months ended March 31,
	2015			2014			2015			2014			2015			2014
Service cost	$	128,000		$	118,000		$	31,000		$	23,000		$	—		$	6,000
Interest cost	178,000			169,000			38,000			33,000			26,000			27,000
Expected return on plan assets	(250,000		)	(210,000		)	—			—			—			—
Amortization of prior service cost (credit)	3,000			3,000			(2,000		)	(3,000		)	—			6,000
Amortization of net actuarial loss (gain)	43,000			18,000			12,000			2,000			(3,000		)	(10,000		)
Net periodic benefit cost	$	102,000		$	98,000		$	79,000		$	55,000		$	23,000		$	29,000

Barnwell contributed $250,000 to the Pension Plan during the six months ended March 31, 2015 and does not expect to make any further contributions during the remainder of fiscal 2015. The SERP and Postretirement Medical plans are unfunded, and Barnwell funds benefits when payments are made. Barnwell does not expect to make any benefit payments under the Postretirement Medical plan during fiscal 2015 and expected payments under the SERP for fiscal 2015 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.