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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Reconciliation of the Projected Benefit Obligation, Plan Assets and Funded Status of the Pension Plan
The following table provides a reconciliation of the projected benefit obligation, plan assets and funded status of the pension plan at December 31:

 20242023
Accumulated benefit obligation$69,235 $70,588 
Change in benefit obligation  
Projected benefit obligation at beginning of year$70,588 $71,203 
Service cost721 776 
Interest cost3,452 3,646 
Actuarial gain(1,373)(806)
Benefits paid(3,112)(3,018)
Settlements(1,041)(1,213)
Projected benefit obligation at end of year$69,235 $70,588 
Change in plan assets  
Fair value of plan assets at beginning of year$65,896 $62,356 
Actual gain (loss) on plan assets3,930 7,771 
Benefits paid(3,112)(3,018)
Settlements(1,041)(1,213)
Fair value of plan assets at end of year$65,673 $65,896 
Funded status$(3,562)$(4,692)
Schedule of Amounts Recognized in the Consolidated Balance Sheets
Amounts recognized in the consolidated balance sheets consist of the following at December 31,:

 20242023
Other long-term liabilities$(3,562)$(4,692)
Accumulated other comprehensive loss(22,281)(24,770)
Schedule of Actuarial Assumptions Used
The following actuarial assumptions were used to determine our accumulated and projected benefit obligations as of December 31,:

 20242023
Discount rate5.65 %5.15 %
The following actuarial assumptions were used to determine our net periodic pension benefit cost for the years ended December 31,:
 202420232022
Discount rate on benefit obligation5.15 %5.41 %2.81 %
Effective rate for interest on benefit obligation5.08 %5.34 %2.33 %
Expected return on plan assets7.00 %7.00 %7.00 %
Schedule of Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in other comprehensive income in 2024 and 2023 are as follows:
 
20242023
Current year actuarial loss $898 $4,447 
Amortization of actuarial loss1,591 2,129 
Total recognized in other comprehensive income (loss)$2,489 $6,576 
Schedule of Net Benefit Cost
Net periodic pension cost for the years ended December 31, consists of the following:

 202420232022
Service cost$721 $776 $1,077 
Interest cost on projected benefit obligation3,452 3,646 2,148 
Expected return on plan assets(4,405)(4,130)(5,295)
Amortization of loss1,591 2,129 2,589 
Net periodic pension cost$1,359 $2,421 $519 
Schedule of Allocation of Plan Assets
The allocation of plan assets by category is as follows at December 31,:
Percentage of Pension
Plan Assets
Target
Allocation
 202420232025
Equity securities71 %72 %75 %
Debt securities29 %28 %25 %
Total100 %100 %100 %
The following table sets forth the value of the pension plan's assets as of December 31, 2024 and December 31, 2023:

20242023
Investments measured at fair value:
Level 1
Common Stock$7,797 $7,926 
Fixed Income Securities17,016 16,735 
Total Investments measured at fair value24,813 24,661 
Investments measured at NAV:
Money Market Fund1,885 1,834 
Mutual Funds38,975 39,401 
Total Investments measured at NAV40,860 41,235 
Total Investments$65,673 $65,896 
Schedule of Expected Benefit Payments
The following table summarizes the benefits and settlements expected to be paid by our pension plan in each of the next five years and in aggregate for the following five years. The expected payments are estimated based on the same assumptions used to measure the Company’s projected benefit obligation at December 31, 2024.
 
2025$6,059 
20266,076 
20275,672 
20285,541 
20295,367 
2030-203425,803