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Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2021
Retirement Benefits [Abstract] |
Schedule of Allocation of Plan Assets | The following tables summarize the fair values of the Rabbi Trust investment assets to fund CTWS’s SERP by major categories as of December 31, 2021 and 2020 :
|  |  |  | Fair Value Measurements at December 31, 2021
Asset Category |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Money market funds |  | $ | 186 |  |  | 186 |  |  | — |  |  | — |
Mutual funds |  | 2,691 |  |  | 2,691 |  |  | — |  |  | — |
Fixed income |  | 920 |  |  | 920 |  |  | — |  |  | — |
Total |  | $ | 3,797 |  |  | 3,797 |  |  | — |  |  | — |
|  |  |  | Fair Value Measurements at December 31, 2020
Asset Category |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Money market funds |  | $ | 83 |  |  | 83 |  |  | — |  |  | — |
Mutual funds |  | 2,101 |  |  | 2,101 |  |  | — |  |  | — |
Fixed income |  | 830 |  |  | 830 |  |  | — |  |  | — |
Total |  | $ | 3,014 |  |  | 3,014 |  |  | — |  |  | — |
Plan assets as of December 31 were as follows:
| Pension Benefits |  | Other Benefits
| 2021 |  | 2020 |  | 2021 |  | 2020
Fair value of assets at end of year: |  |  |  |  |  |  |
Debt securities | $ | 100,036 |  |  | 95,935 |  |  | $ | 5,541 |  |  | 5,684 |
| 32 | % |  | 35 | % |  | 25 | % |  | 29 | %
Equity securities | 197,248 |  |  | 170,747 |  |  | 14,932 |  |  | 12,762 |
| 64 | % |  | 61 | % |  | 69 | % |  | 66 | %
Cash and equivalents | 12,892 |  |  | 11,442 |  |  | 1,294 |  |  | 1,033 |
| 4 | % |  | 4 | % |  | 6 | % |  | 5 | %
Total | $ | 310,176 |  |  | 278,124 |  |  | $ | 21,767 |  |  | 19,479 |
The following tables summarize the fair values of plan assets by major categories as of December 31, 2021 and 2020:
|  |  | Fair Value Measurements at December 31, 2021
Asset Category | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents | $ | 14,186 |  |  | 14,186 |  |  | — |  |  | — |
Equity securities (a) | 212,180 |  |  | 212,180 |  |  | — |  |  | — |
Fixed Income (b) | 105,577 |  |  | 38,608 |  |  | 66,969 |  |  | — |
Total | $ | 331,943 |  |  | 264,974 |  |  | 66,969 |  |  | — |
___________________________________ (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, 2020
Asset Category | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents | $ | 12,475 |  |  | 12,475 |  |  | — |  |  | — |
Equity securities (a) | 183,509 |  |  | 183,509 |  |  | — |  |  | — |
Fixed Income (b) | 101,619 |  |  | 36,012 |  |  | 65,607 |  |  | — |
Total | $ | 297,603 |  |  | 231,996 |  |  | 65,607 |  |  | — |
___________________________________ (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
Schedule of Assumptions Used | Net periodic cost for the defined benefit plans and other postretirement benefits was calculated using the following weighted-average assumptions:
| Pension Benefits |  | Other Benefits
| 2021 |  | 2020 |  | 2019 |  | 2021 |  | 2020 |  | 2019
| % |  | % |  | % |  | % |  | % |  | %
Discount rate | 2.29 - 2.48 |  | 3.05 - 3.23 |  | 3.04 - 4.16 |  | 2.18 - 2.41 |  | 2.59 - 3.18 |  | 2.52 - 4.09
Expected return on plan assets | 6.50, 6.75 |  | 6.50, 6.75 |  | 7.00, 7.25 |  | 4.20, 6.50 |  | 4.20, 6.50 |  | 4.00, 7.00
Rate of compensation increase | 4.00 |  | 4.00 |  | 4.00 |  | N/A |  | N/A |  | N/A
Benefit obligations for the defined benefit plans and other postretirement benefits were calculated using the following weighted-average assumptions as of December 31:
| Pension Benefits |  | Other Benefits
| 2021 |  | 2020 |  | 2021 |  | 2020
| % |  | % |  | % |  | %
Discount rate | 2.65 - 2.82 |  | 2.29 - 2.48 |  | 2.61 - 2.76 |  | 2.18 - 2.41
Rate of compensation increase | 4.00 |  | 4.00 |  | N/A |  | N/A
Schedule of Net Benefit Costs | Net periodic costs for the defined benefit plans and other postretirement benefits for the years ended December 31 was as follows:
| Pension Benefits |  | Other Benefits
| 2021 |  | 2020 |  | 2019 |  | 2021 |  | 2020 |  | 2019
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 9,730 |  |  | 8,659 |  |  | 5,947 |  |  | $ | 1,115 |  |  | 900 |  |  | 581 |
Interest cost | 9,415 |  |  | 10,484 |  |  | 8,506 |  |  | 806 |  |  | 956 |  |  | 775 |
Expected return on assets | (18,019) |  |  | (15,715) |  |  | (10,118) |  |  | (970) |  |  | (857) |  |  | (475) |
Amortization of prior service cost | 41 |  |  | 41 |  |  | 48 |  |  | — |  |  | 97 |  |  | 197 |
Recognized actuarial loss | 6,901 |  |  | 4,971 |  |  | 3,984 |  |  | 257 |  |  | 229 |  |  | 240 |
Net periodic benefit cost | $ | 8,068 |  |  | 8,440 |  |  | 8,367 |  |  | $ | 1,208 |  |  | 1,325 |  |  | 1,318 |
Schedule of Net Funded Status | The projected benefit obligations and the funded status of the defined benefit pension and other postretirement plans as of December 31 were as follows:
| Pension Benefits |  | Other Benefits
| 2021 |  | 2020 |  | 2021 |  | 2020
Change in benefit obligation |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 386,091 |  |  | 338,240 |  |  | $ | 35,794 |  |  | 32,546 |
Service cost | 9,730 |  |  | 8,659 |  |  | 1,115 |  |  | 900 |
Interest cost | 9,415 |  |  | 10,484 |  |  | 806 |  |  | 956 |
Actuarial (gain)/loss | (5,477) |  |  | 42,164 |  |  | (2,235) |  |  | 2,421 |
Implicit rate subsidy | — |  |  | — |  |  | (222) |  |  | (211) |
Plan participants contributions | — |  |  | — |  |  | 171 |  |  | 254 |
Administrative expenses paid | (144) |  |  | (163) |  |  | — |  |  | — |
Benefits paid | (15,777) |  |  | (13,293) |  |  | (1,017) |  |  | (1,072) |
Benefit obligation at end of year | $ | 383,838 |  |  | 386,091 |  |  | $ | 34,412 |  |  | 35,794 |
Change in plan assets |  |  |  |  |  |  |
Fair value of assets at beginning of year | $ | 278,124 |  |  | 243,521 |  |  | $ | 19,479 |  |  | 17,226 |
Actual return on plan assets | 34,826 |  |  | 32,869 |  |  | 2,460 |  |  | 2,383 |
Employer contributions | 13,147 |  |  | 16,609 |  |  | 669 |  |  | 675 |
Plan participants contributions | — |  |  | — |  |  | 171 |  |  | 254 |
Administrative expenses paid | (144) |  |  | (163) |  |  | (63) |  |  | (54) |
Benefits paid | (15,777) |  |  | (14,712) |  |  | (949) |  |  | (1,005) |
Fair value of plan assets at end of year | 310,176 |  |  | 278,124 |  |  | 21,767 |  |  | 19,479 |
Funded status at end of year | $ | (73,662) |  |  | (107,967) |  |  | $ | (12,645) |  |  | (16,315) |
Schedule of Amounts Recognized in Balance Sheet | The amounts recognized on the balance sheet as of December 31 were as follows:
| Pension Benefits |  | Other Benefits
| 2021 |  | 2020 |  | 2021 |  | 2020
Noncurrent assets | $ | 6,422 |  |  | — |  |  | $ | — |  |  | — |
Current liabilities | (2,782) |  |  | (2,760) |  |  | (139) |  |  | (133) |
Noncurrent liabilities | (77,302) |  |  | (105,207) |  |  | (12,506) |  |  | (16,182) |
| $ | (73,662) |  |  | (107,967) |  |  | $ | (12,645) |  |  | (16,315) |
Schedule of Regulatory Asset Recorded on the Projected Benefit Obligation of the Postretirement Benefit Plans | SJW Group recorded a regulatory asset on the projected benefit obligation of the postretirement benefit plans as follows:
| 2021 |  | 2020
Funded status of obligation | $ | 86,307 |  |  | 124,282 |
Accrued benefit cost | (24,110) |  |  | (29,920) |
Regulatory asset, amount to be recovered in future rates | $ | 62,197 |  |  | 94,362 |
Schedule of Expected Benefit Payments | Benefits expected to be paid in the next five years and in the aggregate for the five years thereafter are:
| Pension Plan |  | Other Postretirement Benefit Plan
2022 | $ | 16,220 |  |  | $ | 1,497 |
2023 | 16,385 |  |  | 1,632 |
2024 | 16,632 |  |  | 1,697 |
2025 | 16,896 |  |  | 1,722 |
2026 | 18,915 |  |  | 1,763 |
2027 - 2031 | 96,506 |  |  | 9,117 |

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