EMPLOYEE BENEFITS (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Summary of Actual and Target Asset Allocation of Plan Assets

The following is a summary of the pension plan's actual and target asset allocations at December 31, 2019 and 2018 by asset category:

									Target
Pension Plan Assets	2019		% of Total		2018		% of Total		Allocation
Fixed maturity securities - corporate bonds	$	13,250	6.7	%	$	10,051	6.1	%	0	%	-	15	%
Redeemable preferred stock	2,929		1.5		2,697		1.6		0	%	-	10	%
Equity securities	117,117		58.7		86,586		52.5		50	%	-	70	%
Pooled separate accounts
Core plus bond separate account fund	20,505		10.3		20,222		12.3		0	%	-	40	%
U.S. property separate account fund	22,114		11.1		20,841		12.6		0	%	-	25	%
Arbitrage fund	9,245		4.6		8,716		5.3		0	%	-	10	%
United Life annuity	10,855		5.4		10,339		6.3		5	%	-	10	%
Cash and cash equivalents	3,451		1.7		5,367		3.3		0	%	-	10	%
Total plan assets	$	199,466	100.0	%	$	164,819	100.0	%

Categories of Pension Plan Assets at Fair Value on Recurring Basis

The following tables present the categorization of the pension plan's assets measured at fair value on a recurring basis at December 31, 2019 and 2018:

			Fair Value Measurements
Description	December 31, 2019		Level 1		Level 2		Level 3
Fixed maturity securities - corporate bonds	$	13,250	$	—	$	13,250	$	—
Redeemable preferred stock	2,929		2,929		—		—
Equity securities	117,117		117,117		—		—
Pooled separate accounts
Core plus bond separate account fund	20,505		—		20,505		—
U.S. property separate account fund	22,114		—		—		22,114
Arbitrage fund	9,245		—		9,245		—
Money market funds	3,448		3,448		—		—
Total assets measured at fair value	$	188,608	$	123,494	$	43,000	$	22,114

			Fair Value Measurements
Description	December 31, 2018		Level 1		Level 2		Level 3
Fixed maturity securities - corporate bonds	$	10,051	$	—	$	10,051	$	—
Redeemable preferred stock	2,697		2,697		—		—
Equity securities	86,586		86,586		—		—
Pooled separate accounts
Core plus bond separate account fund	20,222		—		20,222		—
U.S. property separate account fund	20,841		—		—		20,841
Arbitrage fund	8,716		—		8,716		—
Money market funds	5,364		5,364		—		—
Total assets measured at fair value	$	154,477	$	94,647	$	38,989	$	20,841

Summary of Changes in Fair Value of Pension Plan Securities

The following tables provide a summary of the changes in fair value of the pension plan's Level 3 securities:

	U.S. property separate account fund
Balance at January 1, 2019	$	20,841
Unrealized gains	1,273
Company Contributions	—
Balance at December 31, 2019	$	22,114

	U.S. property separate account fund
Balance at January 1, 2018	$	15,502
Unrealized gains	1,339
Company Contributions	4,000
Balance at December 31, 2018	$	20,841

Schedule of Actuarial Assumptions Used

The following actuarial assumptions were used to determine the reported plan benefit obligations at December 31:

Weighted-average assumptions as of	Pension Benefits				Post-retirement Benefits
December 31,	2019		2018		2019		2018
Discount rate	3.32	%	4.18	%	3.32	%	4.18	%
Rate of compensation increase	3.00		3.00		N/A		N/A

The following actuarial assumptions were used at January 1 to determine our reported net periodic benefit costs for the year ended December 31:

Weighted-average assumptions as of	Pension Benefits						Post-retirement Benefits
January 1,	2019		2018		2017		2019		2018		2017
Discount rate	4.18	%	3.65	%	4.17	%	4.18	%	3.65	%	4.17	%
Expected long-term rate of return on plan assets	6.70		6.70		7.50		N/A		N/A		N/A
Rate of compensation increase	3.00		3.00		3.00		N/A		N/A		N/A

Schedule of Health Care Cost Trend Rates

	Health Care Benefits				Dental Claims
Years Ended December 31,	2019		2018		2019		2018
Health care cost trend rates assumed for next year	6.75	%	6.75	%	4.00	%	4.00	%
Rate to which the health care trend rate is assumed to decline (ultimate trend rate)	4.50	%	4.50	%	N/A		N/A
Year that the rate reaches the ultimate trend rate	2030		2029		N/A		N/A

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A 1.0 percent change in assumed health care cost trend rates would have the following effects:

	1% Increase		1% Decrease
Effect on the net periodic post-retirement health care benefit cost	$	657	$	(508	)
Effect on the accumulated post-retirement benefit obligation	5,293		(4,281		)

Reconciliation of Benefit Obligations, Plan Assets, and Funded Status

The following table provides a reconciliation of benefit obligations, plan assets and funded status of our plans:

	Pension Benefits						Post-retirement Benefits
Years Ended December 31,	2019			2018			2019			2018
Reconciliation of benefit obligation
Benefit obligation at beginning of year	$	202,156		$	208,349		$	30,973		$	55,728
Service cost	7,989			8,701			1,823			2,998
Interest cost	8,320			7,500			1,274			2,009
Actuarial loss (gain)	39,598			(17,535		)	(1,806		)	(12,094		)
Adjustment for plan amendment	—			—			—			(16,159		)
Benefit payments	(5,689		)	(4,859		)	(1,263		)	(1,509		)
Benefit obligation at end of year (1)	$	252,374		$	202,156		$	31,001		$	30,973
Reconciliation of fair value of plan assets
Fair value of plan assets at beginning of year	$	164,819		$	157,644		$	—		$	—
Actual return on plan assets	36,336			(4,366		)	—			—
Employer contributions	4,000			16,400			1,263			1,509
Benefit payments	(5,689		)	(4,859		)	(1,263		)	(1,509		)
Fair value of plan assets at end of year	$	199,466		$	164,819		$	—		$	—
Funded status at end of year	$	(52,908	)	$	(37,337	)	$	(31,001	)	$	(30,973	)

(1)

For the pension plan, the benefit obligation is the projected benefit obligation. For the post-retirement benefit plan, the benefit obligation is the accumulated post-retirement benefit obligation.

Schedule of Amounts Recognized in AOCI

The following table displays the effect that the unrecognized prior service cost and unrecognized actuarial loss of our plans had on accumulated other comprehensive income ("AOCI"), as reported in the accompanying Consolidated Balance Sheets:

	Pension Benefits				Post-retirement Benefits
Years Ended December 31	2019		2018		2019			2018
Amounts recognized in AOCI
Unrecognized prior service cost	$	—	$	—	$	(28,947	)	$	(37,631	)
Unrecognized actuarial (gain) loss	64,059		53,616		8,086			10,786
Total amounts recognized in AOCI	$	64,059	$	53,616	$	(20,861	)	$	(26,845	)

Components of Net Periodic Benefit Cost

The components of the net periodic benefit cost for our pension and post-retirement benefit plans are as follows:

	Pension Plan									Post-retirement Benefit Plan
Years Ended December 31,	2019			2018			2017			2019			2018			2017
Net periodic benefit cost
Service cost	$	7,989		$	8,701		$	6,857		$	1,823		$	2,998		$	2,021
Interest cost	8,320			7,500			7,060			1,274			2,009			1,927
Expected return on plan assets	(10,784		)	(10,502		)	(9,650		)	—			—			—
Amortization of prior service cost	—			—			—			(8,684		)	(5,409		)	(5,409		)
Amortization of net loss	3,603			4,287			3,562			894			2,355			1,846
Net periodic benefit cost	$	9,128		$	9,986		$	7,829		$	(4,693	)	$	1,953		$	385

Summary of Expected Benefit Payments

The following table summarizes the expected benefits to be paid from our plans over the next 10 years:

	2020		2021		2022		2023		2024		2025 - 2029
Pension benefits	$	6,680	$	7,220	$	7,760	$	8,340	$	9,020	$	57,210
Post-retirement benefits	$	940	$	1,000	$	1,050	$	1,090	$	1,150	$	6,980