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EMPLOYEE BENEFIT PLANS
 6 Months Ended
Mar. 31, 2022
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS
10. EMPLOYEE BENEFIT PLANS

Pension and Other Postemployment Benefit Plans

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:
PensionOPEB
Three Months EndedSix Months EndedThree Months EndedSix Months Ended
March 31,March 31,March 31,March 31,
(Thousands)20222021202220212022202120222021
Service cost$2,073 $2,183 $4,146 $4,365 $1,076 $1,211 $2,152 $2,422 
Interest cost2,408 2,278 4,816 4,556 1,589 1,517 3,178 3,035 
Expected return on plan assets(5,318)(4,851)(10,637)(10,075)(1,894)(1,565)(3,788)(3,248)
Recognized actuarial loss2,186 2,861 4,372 5,723 1,421 1,978 2,842 3,955 
Prior service cost (credit) amortization26 26 51 51 (36)(45)(72)(90)
Net periodic benefit cost$1,375 $2,497 $2,748 $4,620 $2,156 $3,096 $4,312 $6,074 

The Company does not expect to be required to make additional contributions to fund the pension plans during fiscal 2022 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 six months ended March 31, 2022 and 2021.

There are no federal requirements to pre-fund OPEB benefits. However, the Company is required to fund certain amounts due to regulatory agreements with the BPU and estimates that it will contribute between $5 million and $10 million over each of the next five years. Additional contributions may be required based on market conditions and changes to assumptions.