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PENSION AND OTHER POSTRETIREMENT PLANS (Tables)
 12 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Pension Plans The following provides a reconciliation of benefit obligations, plan assets and funded status of the plans as of the Company's actuarial valuation as of September 30, 2020 and 2019:
 PensionOther Postretirement
 2020201920202019
Change in benefit obligation:
Benefit obligation, beginning of year$289,957 $241,553 $20,952 $18,826 
Service cost8,679 7,998 227 244 
Interest cost7,735 9,202 501 718 
Actuarial loss (gain)23,827 43,198 (1,402)2,212 
Exchange loss (gain)799 (581)— — 
Benefit payments(12,110)(11,413)(847)(1,048)
Benefit obligation, end of year318,887 289,957 19,431 20,952 
Change in plan assets:    
Fair value, beginning of year (1)
155,313 158,662 — — 
Actual return8,705 6,852 — — 
Benefit payments(12,110)(11,413)(847)(1,048)
Employer contributions16,226 1,212 847 1,048 
Fair value, end of year (1)
168,134 155,313 — — 
Funded status (1)
(150,753)(134,644)(19,431)(20,952)
Unrecognized actuarial loss (gain)110,971 95,741 676 (106)
Unrecognized prior service cost343 (367)(2,048)(330)
Net amount recognized$(39,439)$(39,270)$(20,803)$(21,388)
Amounts recognized in the consolidated balance sheet:    
Current liability$(905)$(882)$(831)$(989)
Noncurrent benefit liability(149,848)(133,762)(18,600)(19,963)
Accumulated other comprehensive loss (income)111,314 95,374 (1,372)(436)
Net amount recognized$(39,439)$(39,270)$(20,803)$(21,388)
Amounts recognized in accumulated    
       other comprehensive loss (income):
    
Net actuarial loss (income)$110,971 $95,741 $676 $(106)
Prior service cost343 (367)(2,048)(330)
Net amount recognized$111,314 $95,374 $(1,372)$(436)

(1) The fair value of plan assets and funded status do not include the value of investments held in trust for the Company's non-qualified supplemental retirement plan. These investments totaled $24,610 and $22,986 as of September 30, 2020 and 2019, respectively. Refer to Note 7, "Investments" for further details.
Net Periodic Pension and Other Postretirement Benefit Cost
Net periodic pension and other postretirement benefit cost for the plans included the following:
 PensionOther Postretirement
 202020192018202020192018
Service cost$8,679 $7,998 $8,159 $227 $244 $335 
Interest cost *7,735 9,202 8,210 501 718 631 
Expected return on plan assets *(10,214)(10,304)(10,136)— — — 
Amortization:      
Prior service cost(186)(186)(138)(464)(195)(195)
Net actuarial loss *9,767 4,245 7,018 — (59)— 
Net benefit cost$15,781 $10,955 $13,113 $264 $708 $771 
* Non-service components of pension and postretirement expense are included in other income (deductions), net.
Contributions During Fiscal Year
Contributions made in fiscal 2020 are as follows:
ContributionsPensionOther Postretirement
Principal retirement plan *$14,983 $— 
Supplemental retirement plan821 — 
Other retirement plans422 — 
Other postretirement plan— 847 
* Amount represents contribution of Matthews Class A Common Stock (see above).
Amounts of AOCI Expected to be Recognized in Net Periodic Benefit Costs
Amounts of AOCI expected to be recognized in net periodic benefit costs in fiscal 2021 include:
Pension
Benefits		Other
Postretirement
Benefits
Net actuarial loss$12,076 $— 
Prior service cost(68)(364)
Weighted-Average Assumptions for Principal Retirement and Other Postretirement Benefit Plans The weighted-average assumptions for those plans were:
 Pension
  
Other Postretirement   
 202020192018202020192018
Discount rate2.62 %3.13 %4.21 %2.63 %3.10 %4.19 %
Return on plan assets6.75 %6.75 %6.75 %— — — 
Compensation increase3.50 %3.50 %3.50 %— — — 
Weighted Average Asset Allocation and Target Allocation
The Company's defined benefit pension plans' weighted-average asset allocation at September 30, 2020 and 2019 and weighted-average target allocation were as follows:
 Plan Assets atTarget
Asset Category20202019
Allocation*
Equity securities$118,677 $105,297 65 %
Fixed income, cash and cash equivalents34,184 39,156 25 %
Other investments15,273 10,860 10 %
 $168,134 $155,313 100 %
* Target allocation relates to the Company's primary defined benefit pension plan as of September 30, 2020.
Fair Value Allocation of Plan Assets
The Company's defined benefit pension plans' asset categories at September 30, 2020 and 2019 were as follows:
 September 30, 2020
Asset CategoryLevel 1Level 2Level 3Total
Equity securities - stocks (1)
$37,089 $— $— $37,089 
Equity securities - mutual funds81,588 — — 81,588 
Fixed income securities11,738 20,086 — 31,824 
Cash and cash equivalents2,360 — — 2,360 
Other investments— — 15,273 15,273 
Total$132,775 $20,086 $15,273 $168,134 
(1) Includes $14,936 of of Matthews Class A Common Stock in Level 1.

 September 30, 2019
Asset CategoryLevel 1Level 2Level 3Total
Equity securities - stocks$54,985 $— $— $54,985 
Equity securities - mutual funds50,312 — — 50,312 
Fixed income securities15,829 18,968 — 34,797 
Cash and cash equivalents4,359 — — 4,359 
Other investments— — 10,860 10,860 
Total$125,485 $18,968 $10,860 $155,313 
Changes in Fair Value of Level 3 Plan Assets
Changes in the fair value of Level 3 assets at September 30, 2020 and 2019 are summarized as follows:

Asset CategoryFair Value, Beginning of PeriodAcquisitionsDispositionsRealized GainsUnrealized Gains (Losses)Fair Value, End of Period
Other investments:
Fiscal Year Ended:
September 30, 2020$10,860 $10,835 $(6,326)$220 $(316)$15,273 
September 30, 201910,115 4,162 (2,786)685 (1,316)10,860 
Benefit Payments Expected to be Paid
Benefit payments expected to be paid are as follows:
Years ending September 30:Pension BenefitsOther Postretirement Benefits
2021$11,363 $831 
202212,302 858 
202312,630 887 
202414,138 910 
202514,252 931 
2026-203078,163 4,557 
 $142,848 $8,974