Benefit Plans (Tables)

12 Months Ended

Sep. 30, 2023

Schedule of Defined Benefit Plan, Fair Value of the Plan Assets and Funded Status

The following table presents the benefit obligation, fair value of the plan assets, and funded status of the plan:


	September 30,
(in thousands)	2023		2022
Change in Benefit Obligation
Benefit obligation at beginning of period	$	7,332	$	8,203
Service cost	105		49
Interest cost	372		130
Participant contributions	—		—
Amendments	—		—
Actuarial losses (gains)	(461)		(901)
Benefits paid	(634)		(149)
Business combinations and (divestitures)	—		—
Curtailments, settlements and/or special/contractual termination benefits	—		—
Benefit obligation at end of year	$	6,714	$	7,332
Change in Plan Assets
Fair value at beginning of period	$	9,469	$	9,930
Actual return on plan assets	(214)		(312)
Company contributions	—		—
Participant contributions	—		—
Benefits paid	(634)		(149)
Expenses paid	—		—
Business combinations and (divestitures)	—		—


Curtailments, settlements and/or special/contractual termination benefits	—		—
Fair value at end of year	$	8,621	$	9,469
Funded Status
Funded status at end of year	$	1,907	$	2,137
Amounts Recognized in Balance Sheets
Non-current assets	$	1,907	$	2,137
Current liabilities	$	—	$	—
Non-current liabilities	$	—	$	—
Amounts Recognized in Accumulated Other Comprehensive Income
Transition obligation (asset)	$	—	$	—
Prior service cost (credit)	$	—	$	—
Net loss (gain)	$	(350)	$	(441)
Net periodic pension cost
Service cost	$	105	$	49
Interest cost	372		130
Expected return on plan assets	(337)		(148)
Amortization of transition obligation (asset)	—		—
Amortization of prior service cost (credit)	—		—
Amortization of net loss (gain)	—		—
Recognition due to settlement, curtailment, and special/contractual termination benefits	—		—
Net periodic pension cost	$	140	$	31
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss
Net loss (gain)	$	91	$	(441)
Prior service cost (credit)	—		—
Amortization of net (loss) gain	—		—
Amortization of prior service cost (credit)	—		—
Amortization of initial asset	—		—
Total recognized in other comprehensive (loss) income	$	91	$	(441)
Actuarial (Gain) Loss by Source
Updated census	$	(255)	$	(55)
Updated discount rate	(206)		(846)
Total	$	(461)	$	(901)
Estimated Future Benefit Payments
2024	$	613	$	600
2025	575		579
2026	555		562
2027	567		575
2028	558		573
Thereafter	2,668		2,748
Total	$	5,536	$	5,637
Weighted Average Assumptions to Determine Benefit Obligations at Year End
Discount rate	5.9%		5.6%
Rate of compensation increase	N/A		N/A
Weighted Average Assumptions to Determine Net Periodic Pension Cost
Discount rate	5.6%		4.4%


Rate of compensation increase	N/A	N/A
Expected long-term return on plan assets	3.7%	3.7%