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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2019
Retirement Benefits [Abstract] |
Schedule of Changes in Benefit Obligations, Plan Assets and Funded Status with Amounts Recognized in Consolidated Balance Sheet | The change in benefit obligations, plan assets and funded status along with amounts recognized in the Consolidated Balance Sheet are as follows:
| December 31,
| 2019 |  | 2018
Change in benefit obligation: |  |  |
Benefit Obligation, beginning of year | $ | 24,511 |  |  | $ | 22,530 |
Service Cost | 4,351 |  |  | 5,153 |
Interest Cost | 1,340 |  |  | 862 |
Plan Amendment | 6,569 |  |  | — |
Actuarial (Gain) Loss | 5,981 |  |  | (3,816 | )
Benefits Paid | (461 | ) |  | (218 | )
Benefit Obligation, end of year | 42,291 |  |  | 24,511 |
Change in plan assets: |  |  |
Fair Value of Plan Assets, beginning of year | 15,716 |  |  | 13,306 |
Actual Return (loss) on Plan Assets | 4,025 |  |  | (1,300 | )
Employer Contributions | 4,771 |  |  | 3,928 |
Benefits Paid | (461 | ) |  | (218 | )
Fair Value of Plan assets, end of year | 24,051 |  |  | 15,716 |
Funded Status at end of period | $ | (18,240 | ) |  | $ | (8,795 | )
Amounts recognized in the Consolidated Balance Sheet: |  |  |
Non-current assets | $ | — |  |  | $ | — |
Current liabilities | — |  |  | — |
Non-current Liabilities | (18,240 | ) |  | (8,795 | )
Net Liability at end of year | $ | (18,240 | ) |  | $ | (8,795 | )
Amounts recognized in accumulated other comprehensive income (loss): |  |  |
Prior Service Cost | 6,163 |  |  | — |
Net actuarial (gain) loss | 2,268 |  |  | (939 | )
Amounts recognized in accumulated other comprehensive income ( loss:) | $ | 8,431 |  |  | $ | (939 | )
Schedule of Expected Employer Contributions and Future Benefits Payments | The following employer contributions and benefit payments, which reflect expected future service, are expected to be paid as follows:
Employer Contributions |
Expected 2020 Contributions by Employer | $ | 5,850 |
Future Expected Benefit Payments |
2020 | $ | 824 |
2021 | 1,112 |
2022 | 1,343 |
2023 | 1,537 |
2024 | 1,714 |
2025-2029 | 11,250 |
Schedule of Components of Net Periodic Costs | The components of net periodic pension costs for the Alkali benefit plan are as follows:
| December 31,
| 2019 |  | 2018 |  | 2017
Service Cost | $ | 4,351 |  |  | $ | 5,153 |  |  | $ | 1,749 |
Interest Cost | 1,340 |  |  | 862 |  |  | 267 |
Expected Return on Assets | (1,252 | ) |  | (973 | ) |  | (259 | )
Amortization of Prior Service Cost | 406 |  |  | — |  |  | — |
Total Net Periodic Benefit Costs (1) | $ | 4,845 |  |  | $ | 5,042 |  |  | $ | 1,757 |
(1) On September 1, 2017, we acquired our Alkali Business including the Company's defined benefit plan. The 2017 Net Periodic Benefit Cost represents the period of the year subsequent to our purchase of the Alkali Business resulting in a lower annual cost compared to 2019 and 2018, respectively.
Schedule of Weighted Average Assumptions Used To Determine Benefit Obligation | The Alkali Business pension plan is administered by a Board-appointed committee that has fiduciary responsibility for the plan's management. The committee is responsible for the oversight and management of the plan's investments. The committee maintains an investment policy that provides guidelines for selection and retention of investment managers or funds, allocation of plan assets and performance review procedures and updating of the policy. The objective of the committee's investment policy is to manage the plan assets in such a way that will allow for the on-going payment of the Company's obligation to the beneficiaries.
Weighted average assumptions used to determine benefit obligation: | December 31, 2019 |  | December 31, 2018
Discount Rate | 3.56 | % |  | 4.62 | %
Expected Long-term Rate of Return | 6.06 | % |  | 6.41 | %
Rate of Compensation Increase | N/A |  |  | N/A |
The discount rate used to determine the net periodic cost at the beginning of the period was 4.62%.
Schedule of Pension Plan Asset Allocations | A summary of total investments for our pension plan assets measured at fair value is presented as of December 31 for the periods below:
| 2019 |  | 2018
| Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash and cash equivalents | 1,311 |  |  | — |  |  | — |  |  | $ | 1,311 |  |  | 506 |  |  | — |  |  | — |  |  | $ | 506 |
Equity securities | 13,192 |  |  | — |  |  | — |  |  | $ | 13,192 |  |  | 8,038 |  |  | — |  |  | — |  |  | $ | 8,038 |
Mutual and other exchange traded funds | 9,548 |  |  | — |  |  | — |  |  | $ | 9,548 |  |  | 7,172 |  |  | — |  |  | — |  |  | $ | 7,172 |
| 24,051 |  |  | — |  |  | — |  |  | $ | 24,051 |  |  | 15,716 |  |  | — |  |  | — |  |  | $ | 15,716 |
Pension plan asset allocations at December 31, 2019 by asset category are as follows:
December 31, 2019
| Target % | Actual %
Equity securities | 41-60% | 55 | %
Fixed income securities and other | 40-60% | 45 | %

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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