XML 58 R42.htm IDEA: XBRL DOCUMENT v3.22.1

PENSION PLAN AND OTHER BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Change in Benefit Obligation

The following table presents (1) changes in the plan's projected benefit obligation and plan assets, and (2) the plan's funded status at December 31, 2021 and 2020 (in thousands):

Change in projected benefit obligation:						2021						2020
Benefit obligation at beginning of year						$	42,781					$	39,886
Service cost						—						—
Interest cost						1,084						1,300
Actuarial (gain) loss						(1,300)						3,735
Curtailments						—						—
Settlements						—						—
Benefits paid						(2,161)						(2,140)
Benefit obligation at end of year						$	40,404					$	42,781

The following table presents (1) changes in the plan's accumulated postretirement benefit obligation and (2) the plan's funded status at December 31, 2021 and 2020 (in thousands):

Changes in accumulated postretirement benefit obligation:						2021						2020
Accumulated postretirement benefit obligation - beginning of year						$	249					$	332
Service cost						—						—
Interest cost						6						9
Participant contributions						20						35
Amendments						—						—
Actuarial (gain) loss						(37)						(57)
Benefits paid						(44)						(70)
Accumulated postretirement benefit obligation at end of year						$	194					$	249

The following table presents Executive Supplemental Pension plan status at December 31, 2021 and 2020 (in thousands):

Change in projected benefit obligation:						2021						2020
Benefit obligation at beginning of year						$	1,251					$	1,232
Service cost						—						—
Interest cost						31						39
Actuarial (gain) loss						—						89
Benefits paid						(109)						(109)
Projected benefit obligation at end of year						$	1,173					$	1,251

Change in Plan Assets

Change in plan assets:						2021						2020
Fair value of plan assets at beginning of year						$	50,134					$	45,557
Actual return on plan assets						5,014						6,717
Employer contributions						—						—
Settlements						—						—
Benefits paid						(2,161)						(2,140)
Fair value of plan assets at end of year						$	52,987					$	50,134
Funded status						$	12,583					$	7,353

Change in plan assets:						2021						2020
Fair value of plan assets at beginning of year						$	—					$	—
Employer contribution						24						35
Plan participants’ contributions						20						35
Benefits paid						(44)						(70)
Fair value of plan assets at end of year						$	—					$	—
Unfunded status						$	(194)					$	(249)

Changes in plan assets:						2021						2020
Fair value of plan assets at beginning of year						$	—					$	—
Employer contributions						109						109
Benefits paid						(109)						(109)
Fair value of plan assets at end of year						$	—					$	—
Unfunded status						$	(1,173)					$	(1,251)

Amount Recognized in Accumulated Other Comprehensive Income

Amount recognized in accumulated other comprehensive income (loss) at December 31, 2021 and 2020 consist of the following (in thousands):

						2021						2020
Net actuarial loss						$	4,833					$	8,602
Prior service cost						—						—
Total before tax effects						$	4,833					$	8,602

Amount recognized in accumulated other comprehensive income (loss) at December 31, 2021 and 2020 consist of the following (in thousands):

						2021						2020
Net actuarial loss						$	208					$	286
Prior service credit						—						(220)
Total before tax effects						$	208					$	66

Amounts recognized in accumulated other comprehensive income (loss) at December 31, 2021 and 2020 consist of the following (in thousands):

						2021						2020
Net actuarial loss						$	339					$	359
Prior service cost						—						—
Total before tax effects						$	339					$	359

Assumptions Used in Determining Benefit Obligation

The principal actuarial assumptions used in determining the projected benefit obligation as of December 31, 2021 and 2020 were as follows:

						2021						2020
Discount rate						2.87		%				2.61		%
Assumed rate of future compensation increase						N/A						N/A
Weighted-average interest crediting rate						N/A						N/A

Accumulated benefit obligation at December 31, 2021 and 2020 was $1.2 million and $1.3 million, respectively.

Weighted-average assumption for disclosure as of December 31:						2021						2020
Discount rate						2.87		%				2.61		%
Assumed rate of future compensation increase						N/A						N/A
Weighted-average interest crediting rate						N/A						N/A

Components of Net Periodic Benefit Cost

Components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) in 2021 and 2020 consist of the following (in thousands):

Net periodic benefit cost						2021						2020
Service cost, benefits earned during the year						$	—					$	—
Interest cost on projected benefit obligation						1,084						1,300
Expected return on plan assets						(2,696)						(2,444)
Amortization of net loss						151						213
Amortization of  prior service cost						—						—
Recognized (gain) loss due to settlements						—						—
Net periodic cost (benefit)						$	(1,461)					$	(931)

The components of net periodic postretirement benefit cost for the years ended December 31, 2021 and 2020 are as follows (in thousands):

Net periodic cost (benefit)						2021						2020
Service cost						$	—					$	—
Interest cost						6						9
Expected return on plan assets						—						—
Amortization of prior service benefit						(220)						(220)
Recognized actuarial loss						42						74
Recognized prior service benefit due to curtailments						—						—
Net periodic postretirement cost (benefit)						$	(172)					$	(137)

The components of net periodic benefit cost for the years ended December 31, 2021 and 2020 are as follows (in thousands):

Net periodic benefit cost						2021						2020
Service cost						$	—					$	—
Interest cost						31						39
Recognized actuarial loss						19						13
Net periodic postretirement benefit cost						$	50					$	52

Schedule of Other Amounts Recognized in Other Comprehensive Income

Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):						2021						2020
Net actuarial (gain) loss						$	(3,618)					$	(538)
Recognized loss						(151)						(213)
Amortization of prior service cost						—						—
Total recognized in other comprehensive income (loss) (before tax effect)						$	(3,769)					$	(751)
Total recognized in net (benefit) cost and other comprehensive income (loss) (before tax effect)						$	(5,230)					$	(1,682)

Other changes in plan assets and benefit obligations   recognized  in other comprehensive income (loss):						2021						2020
Net actuarial (gain) loss						$	(37)					$	(57)
Recognized actuarial loss						(42)						(74)
Prior service credit						—						—
Amortization of prior service benefit						220						220
Total recognized in other comprehensive income (loss)(before tax effect)						$	141					$	89
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)						$	(31)					$	(48)

Other changes in plan assets and benefit obligation recognized in other comprehensive income (loss):						2021						2020
Net actuarial (gain) loss						$	—					$	89
Recognized actuarial loss						(19)						(13)
Total recognized in other comprehensive income (loss) (before tax effect)						$	(19)					$	76
Total recognized in net benefit cost and other comprehensive income (loss) (before tax effect)						$	31					$	128

Assumptions Used in Determining Net Periodic Benefit Cost

The principal actuarial assumptions used in determining the net periodic benefit cost for the years ended December 31, 2021, 2020 were as follows:

						2021						2020
Discount rate						2.61		%				3.33		%
Expected return on assets						5.50		%				5.50		%
Assumed rate of future compensation increase						N/A						N/A
Weighted-average interest crediting rate						N/A						N/A

Weighted-average assumptions for net periodic cost as of December 31:

2021

2020

Discount rate

2.61

%

3.33

%

Expected asset return

N/A

N/A

Assumed rate of future compensation increase

N/A

N/A

Weighted-average interest crediting rate

N/A

N/A

Target Assets Allocations

The expected return on plan assets was determined based on a CAPM using historical and expected future returns of the various asset classes, reflecting the target allocations described below.

Asset Class						Target Allocation 2021						Percentage of Plan Assets at December 31,												Expected Long-Term Rate of Return
												2021						2020
Large cap domestic equities						20% - 50%						42		%				43		%				10.1		%
Mid-cap domestic equities						0% - 15%						—		%				2		%				10.5		%
Small-cap domestic equities						0% - 10%						5		%				3		%				9.0		%
International equities						0% - 20%						4		%				3		%				11.1		%
Intermediate fixed income						30% - 70%						45		%				45		%				4.2		%
Alternative assets						0% - 10%						—		%				—		%				—		%
Cash						0% - 20%						4		%				4		%				1.1		%
Total												100		%				100		%

Fair Value of Plan Assets

The fair value of the plan assets at December 31, 2021 and 2020, by asset class are as follows (in thousands):

												Fair Value Measurement atDecember 31, 2021 Using
Plan Assets						Carrying Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Cash						$	2,270					$	2,270					$	—					$	—
Equity securities:
U.S. companies						21,927						21,927						—						—
Mutual funds						26,345						26,345						—						—
Debt securities:
U.S. Treasuries/Government bonds						2,181						2,181						—						—
U.S. Corporate bonds						264						264						—						—
Total plan assets						$	52,987					$	52,987					$	—					$	—

												Fair Value Measurement atDecember 31, 2020 Using
Plan Assets						Carrying Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Cash						$	2,047					$	2,047					$	—					$	—
Equity securities:
U.S. companies						21,716						21,716						—						—
Mutual funds						23,778						23,778						—						—
Debt securities:
U.S. Treasuries/Government bonds						2,318						2,318						—						—
U.S. Corporate bonds						275						275						—						—
Total plan assets						$	50,134					$	50,134					$	—					$	—

Estimated Benefit Payments

The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten for the pension plan (in thousands):

Calendar Year						Future Expected Benefit Payments
2022						$	2,295
2023						$	2,329
2024						$	2,336
2025						$	2,328
2026						$	2,326
2027-2031						$	11,344

The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten (in thousands):

Calendar Year						Future Estimated Benefit Payments
2022						$	33
2023						$	35
2024						$	19
2025						$	18
2026						$	17
2026-2030						$	64

The following table presents the estimated benefit payments for each of the next five years and the aggregate amount expected to be paid in years six through ten for the Supplemental Pension Plan (in thousands):

Calendar Year						Future Estimated Benefit Payments
2022						$	108
2023						$	106
2024						$	103
2025						$	99
2026						$	95
2027-2031						$	403

Weighted-Average Assumption for Disclosure of Health Care Cost Trend

Weighted-average assumption for disclosure as of December 31:

2021

2020

Discount rate

2.87%

2.61%

Assumed rate of future compensation increase

N/A

N/A

Health care cost trend: Initial (Pre-65/Post 65)

6.95% / 5.45%

6.95% / 5.45%

Health care cost trend: Ultimate (Pre-65/Post 65)

4.75% / 4.75%

4.75% / 4.75%

Year ultimate cost trend reached

2027

2026

Weighted-Average Assumption for Net Periodic Cost

Weighted-average assumptions for net periodic cost as of December 31:

2021

2020

Discount rate

2.61%

3.33%

Expected return on plan assets

N/A

N/A

Assumed rate of future compensation increase

N/A

N/A

Health care cost trend: Initial

6.95% / 5.45%

6.95% / 5.45%

Health care cost tread: Ultimate

4.75% / 4.75%

4.75% / 4.75%

Year ultimate reached

2026

2025

X

- Definition

Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in accumulated other comprehensive income (loss) as of the balance sheet date for pension plans and/or other employee benefit plans.

+ References

No definition available.

+ Details

Name:	chmg_ScheduleOfAmountsRecognizedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	chmg_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

No definition available.

+ Details

Name:	chmg_ScheduleOfAssumptionsUsedInDeterminingBenefitObligationsTableTextBlock
Namespace Prefix:	chmg_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

No definition available.

+ Details

Name:	chmg_ScheduleOfAssumptionsUsedInDeterminingNetPeriodicBenefitCostTableTextBlock
Namespace Prefix:	chmg_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected net periodic cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved.

+ References

No definition available.

+ Details

Name:	chmg_ScheduleOfHealthCareCostTrendRatesForNetPeriodicCostTableTextBlock
Namespace Prefix:	chmg_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

+ 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 (i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

+ 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 (b)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits.

+ 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 (a)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved.

+ 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 (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfHealthCareCostTrendRatesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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=123447040&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration