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EMPLOYEE BENEFIT PLANS
 6 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS
10. EMPLOYEE BENEFIT PLANS

Pension and Other Postemployment Benefit Plans

In January 2024, the Company announced changes to its postretirement medical benefits plan that replaced the existing retiree medical coverage for certain eligible employees and their dependents with an employer funded Health Reimbursement Arrangement beginning on January 1, 2025. The liability associated with postretirement medical benefits was remeasured as of January 1, 2024. The change in post-retirement medical benefits is being amortized into earnings over approximately eight years, the average remaining service to retirement for all plan participants.
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)20262025202620252026202520262025
Service cost$1,244 $1,380 $2,489 $2,761 $272 $273 $544 $546 
Interest cost3,963 3,859 7,927 7,717 2,698 2,097 5,396 4,194 
Expected return on plan assets(6,137)(5,925)(12,274)(11,850)(2,260)(2,347)(4,519)(4,693)
Recognized actuarial loss39 300 77 601 2,796 1,793 5,592 3,586 
Prior service credit amortization— — — — (3,270)(3,270)(6,540)(6,540)
Net periodic benefit (credit) cost$(891)$(386)$(1,781)$(771)$236 $(1,454)$473 $(2,907)

The Company does not expect to make additional contributions to fund the pension plans during fiscal 2026 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, 2026 and 2025.