RETIREMENT PLANS

3 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

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 December 31,
	2015			2014			2015			2014			2015		2014
Service cost	$	65,000		$	51,000		$	16,000		$	15,000		$	—	$	—
Interest cost	91,000			87,000			20,000			18,000			14,000		13,000
Expected return on plan assets	(112,000		)	(125,000		)	—			—			—		—
Amortization of prior service cost (credit)	1,000			1,000			(1,000		)	(1,000		)	—		—
Amortization of net actuarial loss (gain)	34,000			21,000			5,000			6,000			—		(1,000		)
Net periodic benefit cost	$	79,000		$	35,000		$	40,000		$	38,000		$	14,000	$	12,000

Barnwell contributed $350,000 to the Pension Plan during the three months ended December 31, 2015 and estimates that it will make further contributions of $400,000 during the remainder of fiscal 2016. 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 2016 and expected payments under the SERP for fiscal 2016 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.