EMPLOYEE RETIREMENT PLANS

12 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

EMPLOYEE RETIREMENT PLANS

EMPLOYEE RETIREMENT PLANS

Defined Contribution Plans

The Company has 401(k) defined contribution plans covering employees in the U.S., and the expense for the plans totaled $7,658, $6,698 and $5,562 for the fiscal years ended September 30, 2020, 2019 and 2018, respectively.

The Company’s United Kingdom and Singapore subsidiaries make contributions to retirement plans that function as defined contribution retirement plans. The contributions to those plans were approximately $1,766 and $1,356 for the fiscal years ended September 30, 2020 and 2019, respectively.

Pension Obligations in Foreign Jurisdictions

The Company has defined benefit plans covering employees in Japan, South Korea, and France as required by local law. These plans are unfunded. A summary of these combined plans are:

	September 30,
	2020			2019
Projected benefit obligation	$	11,627		$	11,121
Accumulated benefit obligation	8,680			8,314
Pension cost included in Accumulated other comprehensive income (loss)	(764)			(1,811)
Weighted average discount rate	1.32		%	0.73		%
Weighted average rate of increases in future compensation levels	3.01		%	2.89		%

Benefit costs for the combined plans were $1,403, $1,345 and $1,236 in fiscal years 2020, 2019 and 2018, respectively, consisting primarily of service costs. Net service costs are included in Cost of sales and Operating expenses, and all other costs are recorded in the Other income (expense), net in our Consolidated Statements of Income. Estimated future benefit payments are as follows:

Fiscal Year	Amount
2021	$	519
2022	542
2023	641
2024	661
2025	1,209
2026 to 2030	5,172