EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Obligation and Funded Status

The following table sets forth the obligation and funded status as of December 31, 2019 and 2018:



(In Thousands)	2019			2018
Change in benefit obligation:
Benefit obligation at beginning of year	$	19,022		$	20,669
Interest cost	763			706
Actuarial loss	92			141
Benefits paid	(840		)	(797		)
Change in actuarial assumptions	2,419			(1,697		)
Benefit obligation at end of year	$	21,456		$	19,022

Change in plan assets:
Fair value of plan assets at beginning of year	$	16,366		$	17,486
Actual return on plan assets	3,369			(1,078		)
Employer contribution	1,000			750
Benefits paid	(841		)	(797		)
Adjustment to fair value of plan assets	7			5
Fair value of plan assets at end of year	19,901			16,366
Funded status	$	(1,555	)	$	(2,656	)

Accounts recognized on balance sheet as:
Total liabilities	$	(1,555	)	$	(2,656	)

Amounts not yet recognized as a component of net periodic pension cost:
Amounts recognized in accumulated other comprehensive income (loss) consist of:
Net loss	$	6,622		$	6,678

Schedule of Components of the Net Periodic Cost and Other Amounts Recognized in other Comprehensive Income (loss)

Components of Net Periodic Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) as of December 31, 2019, 2018, and 2017 are as follows:



(In Thousands)	2019			2018			2017
Net periodic pension cost:
Service cost	$	—		$	—		$	—
Interest cost	763			706			756
Expected return on plan assets	(995		)	(1,098		)	(926		)
Amortization of unrecognized net loss	187			165			174
Net periodic (benefit) cost	$	(45	)	$	(227	)	$	4

Schedule of Weighted-Average Assumptions used to Determine Benefit Obligations and Net Periodic Cost

Weighted-average assumptions used to determine benefit obligations at December 31, 2019, 2018, and 2017:



	2019		2018		2017
Discount rate	3.04	%	4.10	%	3.47	%
Rate of compensation increase	N/A		N/A		N/A

Weighted-average assumptions used to determine net periodic cost for years ended December 31, 2019, 2018, and 2017:



	2019		2018		2017
Discount rate	4.10	%	3.47	%	3.98	%
Expected long-term return on plan assets	7.00	%	7.00	%	7.00	%

Schedule of Plan's Weighted-Average Asset Allocations by Asset Category

The Plan’s weighted-average asset allocations at December 31, 2019 and 2018 by asset category are as follows:



Asset Category	2019		2018
Cash	5.32	%	4.70	%
Fixed income securities	11.25	%	12.98	%
Equity	67.14	%	64.26	%
Inflation Hedges/Real Assets	5.75	%	5.90	%
Hedged Strategies	10.54	%	12.16	%
Total	100.00	%	100.00	%

Schedule Setting Forth by Level, within the Fair Value Hierarchy the Plan's Assets at Fair Value

The following table sets forth by level, within the fair value hierarchy detailed in Note 21 - Fair Value Measurements, the Plan’s assets at fair value as of December 31, 2019 and 2018:



	2019
(In Thousands)	Level I		Level II		Level III		Total
Assets:
Cash and cash equivalents	$	1,058	$	—	$	—	$	1,058
Mutual funds - taxable fixed income	2,240		—		—		2,240
Mutual funds - domestic equity	10,797		—		—		10,797
Mutual funds - international equity	2,565		—		—		2,565
Inflation Hedges/Real Assets	1,145		—		—		1,145
Hedged Strategies	2,096		—		—		2,096
Total assets at fair value	$	19,901	$	—	$	—	$	19,901



	2018
(In Thousands)	Level I		Level II		Level III		Total
Assets:
Cash and cash equivalents	$	770	$	—	$	—	$	770
Mutual funds - taxable fixed income	2,120		—		—		2,120
Mutual funds - domestic equity	8,550		—		—		8,550
Mutual funds - international equity	1,970		—		—		1,970
Inflation Hedges/Real Assets	965		—		—		965
Hedged Strategies	1,991		—		—		1,991
Total assets at fair value	$	16,366	$	—	$	—	$	16,366

Schedule of Future Benefit Payments Expected to be Paid

The following future benefit payments are expected to be paid:



(In Thousands)
2020	$	947
2021	939
2022	958
2023	1,028
2024	1,031
2025-2029	5,727
	$	10,630