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Retirement Agreements and Other Postretirement Benefit Plan (Tables)
 12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Components Of Net Periodic Benefits Cost
Cost of the Company’s postretirement benefits included the following components:
 
2016
 
2015
 
2014
Net periodic benefit cost
 
 
 
 
 
  Service cost – benefits earned during the year
$
10,180

 
$
16,748

 
$
14,667

  Interest cost on the projected benefit obligation
35,123

 
30,772

 
30,472

  Amortization of unrecognized prior service cost
—

 
4,390

 
2,217

  Amortization of unrecognized loss
8,941

 
3,514

 
—

Net periodic benefits cost at end of year
$
54,244

 
$
55,424

 
$
47,356
Schedule of Net Funded Status On The Balance Sheet
The effects of the funded status on the Company’s Consolidated Balance Sheets at December 31, 2016 and 2015 are presented in the following table:
 
2016
 
2015
Funded status
 
 
 
Actuarial present value of future benefits:
 
 
 
Fully eligible active employee
$
(928,492
)
 
$
(483,985
)
Non-eligible active employees
—

 
(398,638
)
Plan assets
—

 
—

Funded status of accumulated postretirement benefit obligation, recognized in other liabilities
$
(928,492
)
 
$
(882,623
)
Development Of The Accumulated Postretirement Benefit Obligation
Development of the accumulated postretirement benefit obligation for the years ended December 31, 2016 and 2015 includes the following:
 
2016
 
2015
Accrued postretirement benefit obligation at beginning of year
$
(882,623
)
 
$
(771,537
)
Service cost – benefits earned during the year
(10,180
)
 
(16,748
)
Interest cost on projected benefit obligation
(35,123
)
 
(30,772
)
Actuarial loss
(566
)
 
(63,566
)
Accrued postretirement benefit obligation at end of year
$
(928,492
)
 
$
(882,623
)
Changes in Amounts Related to Accumulated Other Comprehensive Income, Pre-Tax
The changes in amounts related to accumulated other comprehensive income, pre-tax, are as follows:
 
2016
 
2015
Balance at beginning of year
$
173,812

 
$
118,150

Components of accumulated other comprehensive income:
 
 
 
Unrecognized prior service cost
—

 
(4,390
)
Amortization of loss, net
(8,941
)
 
(3,514
)
Actuarial loss
566

 
63,566

Balance at end of year
$
165,437

 
$
173,812
Amounts in Accumulated Other Comprehensive Income, Pre-Tax, to be Recognized as Components of Net Periodic Benefit Costs
The amounts currently in accumulated other comprehensive income, pre-tax, that will be reclassified to the Consolidated Statements of Income and recognized as components of net periodic benefit costs in 2017 are:
 
Projected
2017
Amortization of unrecognized prior service cost
$
—

Amortization of unrecognized loss
8,612

Net periodic benefit cost at end of year
$
8,612
Effect of Net Periodic Postretirement Benefit Cost and Accumulated Postretirement Benefit Obligation
The following illustrates the effects on the net periodic postretirement benefit cost (“NPPBC”) and the accumulated postretirement benefit obligation (“APBO”) of a one percentage point increase and one percentage point decrease in the assumed health care cost trend rate as of December 31, 2016:
 
One
Percentage
Point
Increase
 
One
Percentage
Point
Decrease
Net periodic postretirement benefit cost
 
 
 
Effect on the service cost component
$
—

 
$
—

Effect on interest cost
7,447

 
(5,835
)
Total effect on the net periodic postretirement benefit cost
$
7,447

 
$
(5,835
)
Accumulated postretirement benefit obligation (including active employees
who are not fully eligible)
 
 
 
Effect on those currently receiving benefits (retirees and spouses)
$
—

 
$
—

Effect on active fully eligible
186,181

 
(145,871
)
Effect on actives not yet eligible
—

 
—

Total effect on the accumulated postretirement benefit obligation
$
186,181

 
$
(145,871
)