v3.24.1.1.u2
RETIREMENT PLANS (Tables)
12 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Summary of Assumptions Related to Retirement Plan
The following are assumptions related to the Plans:
March 31,
202420232022
Assumptions used to determine benefit obligations:
Discount rate5.5 %5.4 %4.0 %
Assumptions used to determine net pension expense:
Discount rate5.4 %4.0 %3.3 %
Schedule of Changes in Projected Benefit Obligations
The summary of the changes in the Restoration Plan's pension obligations:
March 31,
(in thousands)20242023
Benefit obligation at beginning of year$1,261 $1,447 
Interest cost65 56 
Actuarial gain(3)(136)
Benefits paid(106)(106)
Benefit obligation at end of year$1,217 $1,261 
Accumulated benefit obligation$1,217 $1,261 
Summary of Amounts Recognized in Balance Sheet
The following summarizes amounts recognized in the balance sheets for the Restoration Plan:
March 31,
(in thousands)20242023
Current liabilities$(103)$(103)
Noncurrent liabilities(1,114)(1,158)
Unfunded status$(1,217)$(1,261)
Schedule of Pension Plan
Net pension expense for the Plans was:
Year Ended March 31,
(in thousands)202420232022
Service cost – benefits earned during the year$— $— $43 
Interest cost on projected benefit obligation65 56 138 
Expected return on assets— — (120)
Net amortization and deferral42 69 
Pension plan termination (a)— 453 — 
Curtailment impact— — (30)
Net pension expense$67 $551 $100 
(a) Reflects impact of the termination of the Canadian Plan.
Summary of Expected Cash Benefit Payments
The following table summarizes the expected cash benefit payments for the Restoration Plan for fiscal years ending March 31 (in millions):

2025$0.1 
20260.1 
20270.1 
20280.1 
20290.1 
Thereafter0.5