EMPLOYEE BENEFIT PLANS

3 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

10. EMPLOYEE BENEFIT PLANS

Pension and Other Postemployment Benefit Plans

In January 2024, the Company announced changes to its postretirement medical benefits plan that replaced the existing retiree medical coverage for certain eligible employees and their dependents with an employer funded Health Reimbursement Arrangement. The liability associated with postretirement medical benefits was remeasured as of January 1, 2024. The change in post-retirement medical benefits is being amortized into earnings over approximately eight years, the average remaining service to retirement for all plan participants.

The components of the net periodic cost for pension benefits, including the Company's Pension Equalization Plan, and OPEB costs (principally health care and life insurance) for employees and covered dependents were as follows:

	Pension				OPEB
	Three Months Ended				Three Months Ended
	December 31,				December 31,
(Thousands)	2024		2023		2024		2023
Service cost	$	1,381	$	1,244	$	273	$	642
Interest cost	3,858		4,060		2,097		2,902
Expected return on plan assets	(5,925)		(5,087)		(2,346)		(1,858)
Recognized actuarial loss	301		29		1,793		496
Prior service cost (credit) amortization	—		16		(3,270)		—
Net periodic benefit (credit) cost	$	(385)	$	262	$	(1,453)	$	2,182

The Company does not expect to make additional contributions to fund the pension plans during fiscal 2025 based on current actuarial assumptions; however, funding requirements are uncertain and can depend significantly on changes in actuarial assumptions, returns on plan assets and changes in the demographics of eligible employees and covered dependents. In addition, as in the past, the Company may elect to make contributions in excess of the minimum required amount to the plans. There were no discretionary contributions made during the three months ended December 31, 2024 and 2023.