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Pension and Profit Sharing (Tables) | 12 Months Ended
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Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract] |
Plan Asset Allocation |
Asset Category: |  | 2019 |  |  | 2018 |
Equity Securities |  |  | 66 | % |  |  | 65 | %
Fixed Income Securities |  |  | 32 | % |  |  | 33 | %
Other Securities / Investments |  |  | 2 | % |  |  | 2 | %
Total: |  |  | 100 | % |  |  | 100 | %
Pension Plan Assets by Level |
2019 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Money Market Fund |  | $ | 31 |  |  | $ | 16,763 |  |  | $ | — |  |  | $ | 16,794 |
Equity Common and Collected Funds |  |  | 102,030 |  |  |  | 580,839 |  |  |  | — |  |  |  | 682,869 |
Fixed Income Common and Collected Funds |  |  | 82,670 |  |  |  | 246,316 |  |  |  | — |  |  |  | 328,986 |
Total: |  | $ | 184,731 |  |  | $ | 843,918 |  |  | $ | — |  |  | $ | 1,028,649 |
2018 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Money Market Fund |  | $ | 4 |  |  | $ | 17,320 |  |  | $ | — |  |  | $ | 17,324 |
Equity Common and Collected Funds |  |  | 99,616 |  |  |  | 564,371 |  |  |  | — |  |  |  | 663,957 |
Fixed Income Common and Collected Funds |  |  | 83,211 |  |  |  | 249,309 |  |  |  | — |  |  |  | 332,520 |
Total: |  | $ | 182,831 |  |  | $ | 831,000 |  |  | $ | — |  |  | $ | 1,013,831 |
Changes in Benefit Obligation |
|  | 2019 |  |  | 2018 |
Assumptions used to determine benefit obligation: |  |  |  |  |  |  |  |
Discount rate |  |  | 2.74 | % |  |  | 3.87 | %
Changes in benefit obligation: |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | (1,160,930 | ) |  | $ | (1,362,867 | )
Interest cost |  |  | (41,841 | ) |  |  | (39,851 | )
Service cost |  |  | (25,000 | ) |  |  | (33,000 | )
Actuarial (loss) gain |  |  | (46,288 | ) |  |  | 71,338 |
Benefits and plan expenses paid |  |  | 200,743 |  |  |  | 203,450 |
Benefit obligation at end of year: |  | $ | (1,073,316 | ) |  | $ | (1,160,930 | )
Changes in plan assets: |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 1,013,831 |  |  | $ | 1,249,825 |
Actual return on plan assets |  |  | 201,148 |  |  |  | (57,651 | )
Employer contribution |  |  | 14,413 |  |  |  | 25,107 |
Benefits and plan expenses paid |  |  | (200,743 | ) |  |  | (203,450 | )
Fair value of plan assets at end of year |  |  | 1,028,649 |  |  |  | 1,013,831 |
Funded status: |  | $ | (44,667 | ) |  | $ | (147,099 | )
Amounts recognized in accumulated other comprehensive income: |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | 689,398 |  |  | $ | 880,370 |
Prior service cost |  |  | 538 |  |  |  | 1,082 |
Total: |  | $ | 689,936 |  |  | $ | 881,452 |
Components of Net Benefit Expense |
|  |  | 2019 |  |  |  | 2018 |
Assumptions used to determine net periodic benefit cost: |  |  |  |  |  |  |  |
Discount rate |  |  | 3.87 | % |  |  | 3.14 | %
Expected return on plan assets |  |  | 6.00 | % |  |  | 6.00 | %
Components of net benefit expense: |  |  |  |  |  |  |  |
Service cost |  | $ | 25,000 |  |  | $ | 33,000 |
Interest cost |  |  | 41,841 |  |  |  | 39,851 |
Expected return on plan assets |  |  | (54,330 | ) |  |  | (67,547 | )
Amortization of prior service costs |  |  | 544 |  |  |  | 543 |
Amortization of actuarial loss |  |  | 90,442 |  |  |  | 87,360 |
|  |  | 78,497 |  |  |  | 60,207 |
Net periodic benefit cost: |  | $ | 103,497 |  |  | $ | 93,207 |
Amounts Recognized in Other Comprehensive Income |
|  |  | 2019 |  |  |  | 2018 |
Balance at beginning of the year |  | $ | 881,452 |  |  | $ | 915,495 |
Change in net loss |  |  | (100,530 | ) |  |  | 53,860 |
Amortization of actuarial loss |  |  | (90,442 | ) |  |  | (87,360 | )
Amortization of prior service cost |  |  | (544 | ) |  |  | (543 | )
Change recognized in other comprehensive income |  |  | (191,516 | ) |  |  | (34,043 | )
Total recognized in other comprehensive income |  | $ | 689,936 |  |  | $ | 881,452 |
Benefits Expected to be Paid |
2020 |  | $ | 152,000 |
2021 |  |  | 135,000 |
2022 |  |  | 120,000 |
2023 |  |  | 106,000 |
2024 |  |  | 95,000 |
Years 2025 - 2029 |  |  | 332,000 |

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- Definition Tabular disclosure of the change in the accumulated postemployment benefit obligation 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=118255775&loc=d3e1928-114920 + Details
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