EMPLOYEE BENEFIT PLANS

6 Months Ended

Mar. 31, 2013

Compensation and Retirement Disclosure [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Pension and Other Postemployment Benefit Plans (OPEB)

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						Six Months Ended						Three Months Ended						Six Months Ended
	March 31,						March 31,						March 31,						March 31,
(Thousands)	2013			2012			2013			2012			2013			2012			2013			2012
Service cost	$	1,718		$	1,344		$	3,436		$	2,688		$	1,171		$	896		$	2,342		$	1,792
Interest cost	2,235			2,206			4,470			4,412			1,287			1,283			2,574			2,566
Expected return on plan assets	(3,706		)	(3,171		)	(7,412		)	(6,342		)	(913		)	(686		)	(1,826		)	(1,372		)
Recognized actuarial loss	1,911			1,254			3,822			2,508			964			724			1,928			1,448
Prior service cost amortization	27			11			54			22			7			6			14			12
Recognized net initial obligation	—			—			—			—			(89		)	89			(178		)	178
Net periodic benefit cost	$	2,185		$	1,644		$	4,370		$	3,288		$	2,427		$	2,312		$	4,854		$	4,624

The Company does not expect to be required to make additional contributions to fund the pension plans over the next three fiscal years based on current actuarial assumptions; however, funding requirements are uncertain and can depend significantly on changes in actuarial assumptions, returns on plan assets, interest rates 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. NJR made discretionary contributions of $20 million to the pension plans in both December 2012 and 2011.