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Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract] |
Components of Company Plan Benefit Expense | The following table summarizes key information related to the Company’s pension plans and retirement agreements. The table illustrates the reconciliation of the beginning and ending balances of the benefit obligation showing the effects during the periods presented attributable to service cost, interest cost, plan amendments, termination benefits, actuarial gains and losses. The assumptions used in the Company’s calculation of accrued pension costs are based on market information and the Company’s historical rates for employment compensation and discount rates.
|  | December 31, 2020 |  |  | December 31, 2019 |
Accumulated Benefit Obligation, End of Year |  | $ | 25,229 |  |  | $ | 30,139 |
Change in Projected Benefit Obligation |  |  |  |  |  |  |  |
Projected Benefit Obligation, Beginning of Year |  | $ | 37,551 |  |  | $ | 32,474 |
Service Cost |  |  | 1,254 |  |  |  | 998 |
Interest Cost |  |  | 1,306 |  |  |  | 1,393 |
Other reclassification [1] |  |  | (8,925 | ) |  |  | — |
Actuarial (Gain) Loss |  |  | 3,180 |  |  |  | 3,449 |
Benefits Paid |  |  | (836 | ) |  |  | (763 | )
Projected Benefit Obligation, End of Year |  | $ | 33,530 |  |  | $ | 37,551 |
Change in Plan Assets |  |  |  |  |  |  |  |
Plan Assets at Fair Value, Beginning of Year |  | $ | — |  |  | $ | — |
Company Contributions |  |  | 836 |  |  |  | 763 |
Benefits Paid |  |  | (836 | ) |  |  | (763 | )
Plan Assets at Fair Value, End of Year |  | $ | — |  |  | $ | — |
Unfunded Status of the Plan |  | $ | (33,530 | ) |  | $ | (37,551 | )
Amounts Recognized in Accumulated Other Comprehensive Income |  |  |  |  |  |  |  |
Net Loss |  |  | 10,925 |  |  |  | 8,285 |
Total Pension Cost |  | $ | 10,925 |  |  | $ | 8,285 |
Components of Net Periodic Benefit Cost |
|  | 2020 |  |  | 2019 |
Components of Net Periodic Benefit Cost |  |  |  |  |  |  |  |
Service Cost |  | $ | 1,254 |  |  | $ | 998 |
Interest Cost |  |  | 1,306 |  |  |  | 1,393 |
Amortization of: |  |  |  |  |  |  |  |
Net Loss |  |  | 540 |  |  |  | 210 |
Net Periodic Pension Cost |  | $ | 3,100 |  |  | $ | 2,601 |
Weighted Average Assumptions for Expense |  |  |  |  |  |  |  |
Discount Rate |  |  | 2.80 | % |  |  | 3.40 | %
Expected Return on Plan Assets |  | N/A |  |  | N/A |
Rate of Compensation Increase |  |  | 4.40 | % |  |  | 4.40 | %
Benefit Payments Representing the Company's Obligations to Employees | The benefit payments reflected in the table below represent the Company’s obligations to employees that are eligible for retirement or have already retired and are receiving deferred compensation benefits:
Fiscal Year |  | Pension Benefits |
|  | (In thousands) |
2021 |  | $ | 921 |
2022 |  |  | 913 |
2023 |  |  | 904 |
2024 |  |  | 994 |
2025 |  |  | 1,062 |
Thereafter |  |  | 28,736 |
|  | $ | 33,530 |

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