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Defined Benefit Plan | 3 Months Ended
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Mar. 31, 2020
Retirement Benefits [Abstract] |
DEFINED BENEFIT PLAN | Defined Benefit Plan SJW Group maintains noncontributory defined benefit pension plans for its eligible employees. SJWC and CTWS employees hired before March 31, 2008, and January 1, 2009, respectively, are entitled to benefits under the pension plans based on the employee’s years of service and compensation. Certain employees hired before March 1, 2012, and covered by a plan merged into the CTWS plan in 2013 are also entitled to benefit based on the employee’s years of service and compensation. For SJWC 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. CTWS employees hired on or after January 1, 2009, are entitled to an additional 1.5% of eligible compensation to their company sponsored savings plan. SJW Group does not have multi-employer plans. In addition, senior management hired before March 31, 2008, for SJWC and January 1, 2009, for CTWS are eligible to receive additional retirement benefits under the supplemental executive retirement plans and retirement contracts. SJWC’s senior management hired on or after March 31, 2008, are eligible to receive additional retirement benefits under SJWC’s Cash Balance Executive Supplemental Retirement Plan. Both of the plans are non-qualified plans in which only senior management and other designated members of management may participate. SJW Group also provides health care and life insurance benefits for retired employees under employer-sponsored postretirement benefits other than pension plans. The components of net periodic benefit costs for the defined benefit plans and other postretirement benefits for the three months ended March 31, 2020, and 2019 are as follows:
| Three months ended March 31,
| 2020 |  | 2019
Service cost | $ | 2,443 |  |  | 1,479 |
Interest cost | 2,904 |  |  | 2,112 |
Other cost | 1,499 |  |  | 1,118 |
Expected return on assets | (4,120 | ) |  | (2,309 | )
| $ | 2,726 |  |  | 2,400 |
The following tables summarize the fair values of plan assets by major categories as of March 31, 2020, and December 31, 2019:
| Fair Value Measurements at March 31, 2020
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset Category | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash and cash equivalents | $ | 6,115 |  |  | $ | 6,115 |  |  | $ | — |  |  | $ | — |
Equity securities (a) | 122,326 |  |  | 116,326 |  |  | 6,000 |  |  | — |
Fixed income (b) | 92,218 |  |  | 28,516 |  |  | 63,702 |  |  | — |
Total | $ | 220,659 |  |  | $ | 150,957 |  |  | $ | 69,702 |  |  | $ | — |
______________________________________
(a) | Actively managed portfolio of equity securities with the goal to exceed the benchmark performance
(b) | Actively managed portfolio of fixed income securities with the goal to exceed the benchmark performance
| Fair Value Measurements at December 31, 2019
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Observable Inputs |  | Significant Unobservable Inputs
Asset Category | Total |  | (Level 1) |  | (Level 2) |  | (Level 3)
Cash and cash equivalents | $ | 11,801 |  |  | $ | 11,801 |  |  | $ | — |  |  | $ | — |
Equity securities (a) | 157,050 |  |  | 149,265 |  |  | 7,785 |  |  | — |
Fixed income (b) | 91,896 |  |  | 31,686 |  |  | 60,210 |  |  | — |
Total | $ | 260,747 |  |  | $ | 192,752 |  |  | $ | 67,995 |  |  | $ | — |
______________________________________
(a) | Actively managed portfolio of equity securities with the goal to exceed the benchmark performance
(b) | Actively managed portfolio of fixed income securities with the goal to exceed the benchmark performance
In 2020, SJW Group expects to make required and discretionary cash contributions of up to $9,238 to the pension plans and Social Welfare Plan. For the three months ended March 31, 2020, SJW Group has made no contributions to such plans.

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