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Defined Benefit Plan | 6 Months Ended
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Jun. 30, 2013
Compensation and Retirement Disclosure [Abstract] |
DEFINED BENEFIT PLAN | Defined Benefit Plan San Jose Water Company sponsors a noncontributory defined benefit pension plan for its eligible union and nonunion employees. Employees hired before March 31, 2008 are entitled to receive retirement benefits using a formula based on the employee’s three highest years of compensation (whether or not consecutive). For employees hired on or after March 31, 2008, benefits are determined using a cash balance formula based upon compensation credits and interest credits for each employee. Executive officers hired before March 31, 2008 are eligible to receive additional retirement benefits under the Executive Supplemental Retirement Plan, and executive officers hired on or after March 31, 2008 are eligible to receive retirement benefits under the Cash Balance Executive Supplemental Retirement Plan. Both of those plans are non-qualified plans in which only senior officers and other designated members of management may participate. The Company also provides health care and life insurance benefits for retired employees under the other postretirement benefit plan. The components of net periodic benefit costs for San Jose Water Company’s pension plan, its Executive Supplemental Retirement Plan and other postretirement benefit plan for the three and six months ended June 30, 2013 and 2012 are as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Service cost | $ | 1,239 |  |  | 1,157 |  |  | $ | 2,478 |  |  | 2,314 |
Interest cost | 1,475 |  |  | 1,450 |  |  | 2,950 |  |  | 2,901 |
Other cost | 1,208 |  |  | 1,166 |  |  | 2,416 |  |  | 2,332 |
Expected return on assets | (1,380 | ) |  | (1,148 | ) |  | (2,760 | ) |  | (2,297 | )
| $ | 2,542 |  |  | 2,625 |  |  | $ | 5,084 |  |  | 5,250 |
The following tables summarize the fair values of plan assets by major categories as of June 30, 2013 and December 31, 2012:
|  |  | Fair Value Measurements at June 30, 2013
|  |  |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset Category | Benchmark |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash and cash equivalents |  |  | $ | 3,868 |  |  | $ | 3,868 |  |  | $ | — |  |  | $ | — |
Actively Managed (a): |  |  |  |  |  |  |  |  |
All Cap Equity | Russell 3000 Value |  | 256 |  |  | 243 |  |  | 13 |  |  | — |
U.S. Large Cap Equity | Russell 1000, Russell 1000 Growth, Russell 1000 Value |  | 26,647 |  |  | 26,647 |  |  | — |  |  | — |
U.S. Mid Cap Equity | Russell Mid Cap, Russell Mid Cap Growth, Russell Mid Cap Value |  | 4,590 |  |  | 4,590 |  |  | — |  |  | — |
U.S. Small Cap Equity | Russell 2000, Russell 2000 Growth, Russell 2000 Value |  | 2,562 |  |  | 2,562 |  |  | — |  |  | — |
Non-U.S. Large Cap Equity | MSCI EAFE |  | 4,127 |  |  | 4,127 |  |  | — |  |  | — |
REIT | NAREIT - Equity REIT’S |  | 3,998 |  |  | — |  |  | 3,998 |  |  | — |
Fixed Income (b) | (b) |  | 36,128 |  |  | — |  |  | 36,128 |  |  | — |
Total |  |  | $ | 82,176 |  |  | $ | 42,037 |  |  | $ | 40,139 |  |  | $ | — |
The Plan has a current target allocation of 55% invested in a diversified array of equity securities to provide long-term capital appreciation and 45% invested in a diversified array of fixed income securities to provide preservation of capital plus generation of income.
(a) | Actively managed portfolio of securities with the goal to exceed the stated benchmark performance.
(b) | Actively managed portfolio of fixed income securities with the goal to exceed the Barclays 1-5 Year Government/Credit, Barclays Intermediate Government/Credit, and Merrill Lynch Preferred Stock Fixed Rate.
|  |  | Fair Value Measurements at December 31, 2012
|  |  |  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset Category | Benchmark |  | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash and cash equivalents |  |  | $ | 7,056 |  |  | $ | 7,056 |  |  | $ | — |  |  | $ | — |
Actively Managed (a): |  |  |  |  |  |  |  |  |
U.S. Large Cap Equity | Russell 1000, Russell 1000 Growth, Russell 1000 Value |  | 22,749 |  |  | 22,749 |  |  | — |  |  | — |
U.S. Mid Cap Equity | Russell Mid Cap, Russell Mid Cap Growth, Russell Mid Cap Value |  | 3,989 |  |  | 3,989 |  |  | — |  |  | — |
U.S. Small Cap Equity | Russell 2000, Russell 2000 Growth, Russell 2000 Value |  | 2,174 |  |  | 2,174 |  |  | — |  |  | — |
Non-U.S. Large Cap Equity | MSCI EAFE |  | 4,169 |  |  | 4,169 |  |  | — |  |  | — |
REIT | NAREIT - Equity REIT’S |  | 3,792 |  |  | — |  |  | 3,792 |  |  | — |
Fixed Income (b) | (b) |  | 35,091 |  |  | — |  |  | 35,091 |  |  | — |
Total |  |  | $ | 79,020 |  |  | $ | 40,137 |  |  | $ | 38,883 |  |  | $ | — |
The Plan has a current target allocation of 55% invested in a diversified array of equity securities to provide long-term capital appreciation and 45% invested in a diversified array of fixed income securities to provide preservation of capital plus generation of income.
(a) | Actively managed portfolio of securities with the goal to exceed the stated benchmark performance.
(b) | Actively managed portfolio of fixed income securities with the goal to exceed the Barclays 1-5 Year Government/Credit, Barclays Intermediate Government/Credit, and Merrill Lynch Preferred Stock Fixed Rate.
In 2013, San Jose Water Company expects to make required and discretionary cash contributions of up to $10,300 to the pension plans and other postretirement benefit plan. For the three and six months ended June 30, 2013, $1,489 has been contributed to the pension plans and other postretirement benefit plan.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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