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Employee Benefit Plans
9 Months Ended
Jun. 30, 2019
Retirement Benefits [Abstract]  
Employee Benefit Plans
Employee Benefit Plans

The Company has both a defined benefit pension plan (the “pension plan”) and a postretirement benefit plan (the “postretirement plan”). The pension plan covers substantially all of the Company’s employees hired before January 1, 2017 and provides retirement income based on years of service and employee compensation. The postretirement plan provides certain health care and supplemental life insurance benefits to retired employees who meet specific age and service requirements. Net pension plan and postretirement plan expense is detailed as follows:
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
June 30,
 
June 30,
 
 
2019
 
2018
 
2019
 
2018
 
Components of net periodic pension cost:
 
 
 
 
 
 
 
 
Service cost
$
134,317

 
$
166,309

 
$
402,951

 
$
498,927

 
Interest cost
291,682

 
272,045

 
875,046

 
816,135

 
Expected return on plan assets
(387,359
)
 
(465,710
)
 
(1,162,077
)
 
(1,397,130
)
 
Recognized loss
39,650

 
87,758

 
118,950

 
263,274

 
Net periodic pension cost
$
78,290

 
$
60,402

 
$
234,870

 
$
181,206


 
 
 
Three Months Ended
 
Nine Months Ended
 
 
June 30,
 
June 30,
 
 
2019
 
2018
 
2019
 
2018
 
Components of postretirement benefit cost:
 
 
 
 
 
 
 
 
Service cost
$
33,221

 
$
41,805

 
$
99,663

 
$
125,415

 
Interest cost
162,236

 
160,151

 
486,708

 
480,453

 
Expected return on plan assets
(136,805
)
 
(155,845
)
 
(410,415
)
 
(467,535
)
 
Recognized loss
30,951

 
70,967

 
92,853

 
212,901

 
Net postretirement benefit cost
$
89,603

 
$
117,078

 
$
268,809

 
$
351,234



The components of net periodic benefit cost, other than the service cost component, are included in the line item "other income (expense), net" in the condensed consolidated income statement as prescribed under ASU 2017-07 and discussed in Note 1. Service cost is included in the "operations and maintenance" line.

The table below reflects the Company's actual contributions made fiscal year-to-date and the expected contributions to be made during the balance of the current fiscal year.  
 
 
Fiscal Year-to-Date Contributions
 
Remaining Fiscal Year Contributions
 
Defined benefit pension plan
$
400,000

 
$
400,000

 
Postretirement medical plan

 
300,000

 
Total
$
400,000

 
$
700,000