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Employee Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022 and 2021 by asset category:
Target
Pension Plan Assets2022% of Total2021% of TotalAllocation
Fixed maturity securities - corporate bonds$18,102 7.9 %$21,683 7.6 %0 %-15 %
Redeemable preferred stock2,946 1.3 4,633 1.6 0 %-10 %
Equity securities134,663 58.6 178,766 63.1 50 %-70 %
Pooled separate accounts
Core plus bond separate account fund16,768 7.3 23,916 8.4 0 %-40 %
U.S. property separate account fund28,468 12.4 27,328 9.6 0 %-25 %
Arbitrage fund10,831 4.7 10,588 3.7 0 %-10 %
United Life annuity12,567 5.5 11,968 4.2 0 %-10 %
Cash and cash equivalents5,356 2.3 5,058 1.8 0 %-10 %
Total plan assets$229,701 100.0 %$283,940 100.0 %
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, 2022 and 2021:
 Fair Value Measurements
DescriptionDecember 31, 2022Level 1Level 2Level 3
Fixed maturity securities - corporate bonds$18,102 $— $18,102 $— 
Redeemable preferred stock2,946 2,946 — — 
Equity securities134,663 134,663 — — 
Pooled separate accounts
Core plus bond separate account fund16,768 — 16,768 — 
U.S. property separate account fund28,468 — — 28,468 
Arbitrage fund10,831 — 10,831 — 
Money market funds5,348 5,348 — — 
Total assets measured at fair value$217,126 $142,957 $45,701 $28,468 
Fair Value Measurements
DescriptionDecember 31, 2021Level 1Level 2Level 3
Fixed maturity securities - corporate bonds$21,683 $— $21,683 $— 
Redeemable preferred stock4,633 4,633 — — 
Equity securities178,766 178,766 — — 
Pooled separate accounts
Core plus bond separate account fund23,916 — 23,916 — 
U.S. property separate account fund27,328 — — 27,328 
Arbitrage fund10,588 — 10,588 — 
Money market funds5,053 5,053 — — 
Total assets measured at fair value$271,967 $188,452 $56,187 $27,328 
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, 2022$27,328 
Unrealized gains1,140 
Balance at December 31, 2022$28,468 

U.S. property separate account fund
Balance at January 1, 2021$22,269 
Unrealized gains5,059 
Balance at December 31, 2021$27,328 
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 ofPension BenefitsPost-retirement Benefits
December 31,2022202120222021
Discount rate5.15 %2.84 %N/A0.48 %
Rate of compensation increase3.00 3.00 N/AN/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 ofPension BenefitsPost-retirement Benefits
January 1,202220212020202220212020
Discount rate2.84 %2.58 %3.32 %0.48 %2.58 %3.32 %
Expected long-term rate of return on plan assets6.70 6.70 6.70 N/AN/AN/A
Rate of compensation increase3.00 2.75 3.00 N/AN/AN/A
Schedule of Health Care Cost Trend Rates
 Health Care BenefitsDental Claims
Years Ended December 31,2022202120222021
Health care cost trend rates assumed for next yearN/AN/AN/A3.00 %
Rate to which the health care trend rate is assumed to decline (ultimate trend rate)N/AN/AN/AN/A
Year that the rate reaches the ultimate trend rateN/AN/AN/AN/A
Schedule of 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 BenefitsPost-retirement Benefits
Years Ended December 31,2022202120222021
Reconciliation of benefit obligation
Benefit obligation at beginning of year$276,587 $271,744 $960 $31,666 
Service cost4,481 12,082 — 148 
Interest cost7,730 6,911 2 72 
Actuarial loss (gain)(79,303)(6,593)(122)(1,101)
Adjustment for plan amendment— (408)— — 
Special event plan closure— — — (28,889)
Benefit payments(7,819)(7,149)(840)(936)
Benefit obligation at end of year (1)
$201,676 $276,587 $— $960 
Reconciliation of fair value of plan assets
Fair value of plan assets at beginning of year$283,940 $248,735 $— $— 
Actual return on plan assets(50,420)37,354 — 
Employer contributions4,000 5,000 840 936 
Benefit payments(7,819)(7,149)(840)(936)
Fair value of plan assets at end of year$229,701 $283,940 $— $— 
Funded status at end of year$28,025 $7,353 $— $(960)
(1)For the pension plan, the benefit obligation is the projected benefit obligation. For the post-retirement benefit plan, the benefit obligation is the accumulated post-retirement benefit obligation.
Schedule of Amounts Recognized in AOCI
The following table displays the effect that the unrecognized prior service cost and unrecognized actuarial loss of our plans had on accumulated other comprehensive income ("AOCI"), as reported in the accompanying Consolidated Balance Sheets:
Pension BenefitsPost-retirement Benefits
Years Ended December 312022202120222021
Amounts recognized in AOCI
Unrecognized prior service cost$(26,066)$(29,346)$— $(15,085)
Unrecognized actuarial (gain) loss24,961 35,730 — 2,920 
Total amounts recognized in AOCI$(1,105)$6,384 $— $(12,165)
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 PlanPost-retirement Benefit Plan
Years Ended December 31,202220212020202220212020
Net periodic benefit cost
Service cost$4,481 $12,082 $10,829 $— $148 $1,728 
Interest cost7,730 6,911 8,266 2 72 1,014 
Expected return on plan assets(18,891)(16,807)(13,539)— — — 
Amortization of prior service cost(3,280)(3,237)— (15,085)(14,490)(8,084)
Special event plan closure— — — (26)(20,177)— 
Amortization of net loss777 3,995 3,914 2,824 2,607 375 
Net periodic benefit cost$(9,183)$2,944 $9,470 $(12,285)$(31,840)$(4,967)
Summary of Expected Benefit Payments
The following table summarizes the expected benefits to be paid from our plans over the next 10 years:
202320242025202620272028 - 2032
Pension benefits$10,880 $10,410 $11,270 $11,940 $12,780 $74,080