Pension and Other Postretirement Benefit Plans

9 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefit Plans

Pension and Other Postretirement Benefit Plans

The Company provides defined benefit pension and other postretirement plans to certain employees. Net periodic pension and other postretirement benefit cost for the plans included the following:

	Three months ended June 30,
	Pension				Other Postretirement
	2020		2019		2020		2019
Service cost	$	2,170	$	2,000	$	64	$	61
Interest cost *	1,933		2,301		140		180
Expected return on plan assets *	(2,232)		(2,596)		—		—
Amortization:
Prior service cost	(47)		(46)		(23)		(49)
Net actuarial loss (gain) *	2,386		1,081		—		(15)
Net benefit cost	$	4,210	$	2,740	$	181	$	177

	Nine months ended June 30,
	Pension				Other Postretirement
	2020		2019		2020		2019
Service cost	$	6,510	$	6,000	$	192	$	183
Interest cost *	5,799		6,903		420		540
Expected return on plan assets *	(6,696)		(7,788)		—		—
Amortization:
Prior service cost	(141)		(138)		(69)		(147)
Net actuarial loss (gain) *	7,159		3,242		—		(45)
Net benefit cost	$	12,631	$	8,219	$	543	$	531

^* Non-service components of pension and postretirement expense are included in other income (deductions), net.

Benefit payments under the Company's principal retirement plan are made from plan assets, while benefit payments under the postretirement benefit plan are made from the Company's operating funds. In response to COVID-19, the federal government passed a modified relief bill, which provides additional funding measures associated with IRS regulations. In accordance with this bill, the Company is no longer required to make contributions for fiscal 2020 to its principal retirement plan. The Company currently expects to make a contribution of approximately $15,000 to its principal retirement plan during the fourth quarter of fiscal 2020, which may consist of cash and/or shares of Matthews Class A Common Stock. The Company is also currently evaluating potential additional cash and/or stock contributions to its principal retirement plan during fiscal 2020.

Note 11.   Pension and Other Postretirement Benefit Plans (continued)

Contributions made and anticipated for fiscal year 2020 are as follows:

Contributions	Pension		Other Postretirement
Contributions during the nine months ended June 30, 2020:
Supplemental retirement plan	$	589	$	—
Other postretirement plan	—		726
Additional contributions expected in fiscal 2020:
Principal retirement plan *	$	15,000	$	—
Supplemental retirement plan	293		—
Other postretirement plan	—		263