Pension and Profit Sharing (Tables)

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Plan Asset Allocation

Asset Category:	2019
Equity Securities		66	%
Fixed Income Securities		32	%
Other Securities / Investments		2	%
Total:		100	%

Pension Plan Assets by Level

The following tables present the pension plan assets by level within the fair value hierarchy as of December 31, 2019:

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

Changes in Benefit Obligation

	2020			2019
Assumptions used to determine benefit obligation:
Discount rate		2.74	%		2.74	%
Changes in benefit obligation:
Benefit obligation at beginning of year	$	(1,073,316	)	$	(1,160,930	)
Interest cost		(27,671	)		(41,841	)
Service cost		(30,195	)		(25,000	)
Actuarial loss		(160,884	)		(46,288	)
Benefits and plan expenses paid		203,596			200,743
Curtailments, settlements and special termination benefits		1,088,470			—
Benefit obligation at end of year:	$	—		$	(1,073,316	)
Changes in plan assets:
Fair value of plan assets at beginning of year	$	1,028,649		$	1,013,831
Actual return on plan assets		40,560			201,148
Employer contribution		222,857			14,413
Benefits and plan expenses paid		(203,596	)		(200,743	)
Settlements		(1,088,470	)		—
Fair value of plan assets at end of year		—			1,028,649
Funded status:	$	—		$	(44,667	)
Amounts recognized in accumulated other comprehensive income:
Net actuarial loss	$	—		$	689,398
Prior service cost		—			538
Total:	$	—		$	689,936

Components of Net Benefit Expense

	2020			2019
Assumptions used to determine net periodic benefit cost:
Discount rate		2.74	%		3.87	%
Expected return on plan assets		6.00	%		6.00	%
Components of net benefit expense:
Service cost	$	30,195		$	25,000
Interest cost		27,671			41,841
Expected return on plan assets		(40,560	)		(54,330	)
Settlement cost		793,524			—
Amortization of prior service costs		538			544
Amortization of actuarial loss		56,739			90,442
		837,912			78,497
Net periodic benefit cost:	$	868,107		$	103,497

Amounts Recognized in Other Comprehensive Income

	2020			2019
Balance at beginning of the year	$	689,936		$	881,452
Change in net loss		(617,800	)		(100,530	)
Amortization of actuarial loss		(71,598	)		(90,442	)
Amortization of prior service cost		(538	)		(544	)
Change recognized in other comprehensive income		(689,936	)		(191,516	)
Total recognized in other comprehensive income	$	—		$	689,936