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Retirement Plans and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Summary of contributions to qualified defined contribution plan, 401(k), non-qualified defined contribution plan and total assets of the plans
Contributions to employees' accounts under the 401(k) plan and the non-qualified defined contribution plan, as well as total assets of the plans, were as follows:
($ in thousands)Year Ended December 31,
202020192018
401(k) plan
Contributions to employees' accounts
$8,187 $8,233 $7,655 
Total assets at the end of the year
228,449 206,247 167,767 
Non-qualified defined contribution plan
Contributions to employees' accounts
68 58 70 
Total assets at the end of the year
— — — 
Funded status of the defined benefit, supplemental retirement pension plans and postretirement benefits other than pensions
The following tables summarize the funded status of the defined benefit and supplemental retirement pension plans as of December 31, 2020, 2019 and 2018 (the measurement dates) and identify (1) the assumptions used to determine the projected benefit obligation and (2) the components of net pension cost for the defined benefit plan and supplemental retirement plans for the following periods:
($ in thousands)Defined Benefit PlanSupplemental
Defined Benefit Plans
December 31,December 31,
202020192018202020192018
Change in benefit obligation:
Projected benefit obligation
at beginning of year
$24,820 $25,075 $28,432 $15,228 $15,404 $16,832 
Service cost
650 650 650 — — — 
Interest cost
731 997 947 453 620 566 
Plan amendments
— — — — — — 
Actuarial loss (gain)
1,021 101 (2,208)1,318 516 (789)
Benefits paid
(1,538)(2,003)(2,746)(1,312)(1,312)(1,205)
Settlements
(1,392)— — — — — 
Projected benefit obligation at end of
year
$24,292 $24,820 $25,075 $15,687 $15,228 $15,404 
Change in plan assets:
Fair value of plan assets
at beginning of year
$23,164 $22,090 $25,843 $— $— $— 
Actual return on plan assets
2,253 3,471 (640)— — — 
Employer contributions
— — — 1,312 1,312 1,205 
Benefits paid
(1,538)(2,003)(2,746)(1,312)(1,312)(1,205)
Expenses paid
(542)(394)(367)— — — 
Settlements
(1,392)— — — — — 
Fair value of plan assets at end of year
$21,945 $23,164 $22,090 $— $— $— 
Funded status$(2,347)$(1,656)$(2,985)$(15,687)$(15,228)$(15,404)
Prepaid (accrued) benefit expense$5,485 $6,690 $7,425 $(9,327)$(9,884)$(10,320)
Total amount recognized in Consolidated
Balance Sheets, all in Other liabilities
$(2,347)$(1,656)$(2,985)$(15,687)$(15,228)$(15,404)
Amounts recognized in accumulated other
comprehensive income (loss) (AOCI):
Prior service cost$— $— $— $— $— $— 
Net actuarial loss(7,833)(8,345)10,410 (6,360)(5,345)5,084 
Total amount recognized in AOCI$(7,833)$(8,345)$10,410 $(6,360)$(5,345)$5,084 
Information for pension plans with an
accumulated benefit obligation greater
than plan assets:
Projected benefit obligation$24,292 $24,820 $25,075 $15,687 $15,228 $15,404 
Accumulated benefit obligation24,292 24,820 25,075 15,687 15,228 15,404 
Fair value of plan assets21,945 23,164 22,090 — — — 
Defined benefit plan and the supplemental defined benefit plans
($ in thousands)Defined Benefit PlanSupplemental
Defined Benefit Plans
Year Ended December 31,Year Ended December 31,
202020192018202020192018
Components of net periodic pension
(income) expense:
Service cost:
Benefit accrual
$— $— $— $— $— $— 
Other expenses
650 650 650 — — — 
Interest cost
731 997 947 453 620 566 
Expected return on plan assets
(966)(1,222)(1,377)— — — 
Settlement loss
447 — — — — — 
Amortization of:
Prior service cost
— — — — — — 
Actuarial loss
342 310 371 302 256 310 
Net periodic pension expense$1,204 $735 $591 $755 $876 $876 
Changes in plan assets and benefit
obligations included in other
comprehensive income (loss):
      
Prior service cost
$— $— $— $— $— $— 
Net actuarial loss (gain)
277 (1,755)177 1,318 516 (789)
Amortization of:
Prior service cost
— — — — — — 
Actuarial loss
(790)(310)(371)(302)(256)(310)
Total recognized in
other comprehensive
income (loss)
$(513)$(2,065)$(194)$1,016 $260 $(1,099)
Weighted average assumptions used to
determine expense:
      
Discount rate
3.10 %4.20 %3.50 %3.10 %4.20 %3.50 %
Expected return on plan assets
4.80 %5.75 %5.90 %***
Annual rate of salary increase
******
Weighted average assumptions
used to determine benefit obligations
as of December 31:
      
Discount rate
2.08 %3.10 %4.20 %2.08 %3.10 %4.20 %
Expected return on plan assets
4.80 %5.75 %5.90 %***
Annual rate of salary increase
******
*    Not applicable.
Fair value hierarchy for the Company's defined benefit pension plan assets
Fair values of the equity security funds and fixed income funds have been determined from public quotations. The following table presents the fair value hierarchy for the Company's defined benefit pension plan assets, excluding cash held.
($ in thousands)Fair Value Measurements at
Reporting Date Using
TotalLevel 1Level 2Level 3
December 31, 2020
Asset category
Equity security funds (1)
United States
$4,367 $— $4,367 $— 
International
4,351 — 4,351 — 
Fixed income funds
13,059 — 13,059 — 
Short-term investment funds
168 168 — — 
Total
$21,945 $168 $21,777 $— 
December 31, 2019
Asset category
Equity security funds (1)
United States
$8,883 $— $8,883 $— 
International
2,214 — 2,214 — 
Fixed income funds
11,116 — 11,116 — 
Short-term investments funds
951 951 — — 
Total
$23,164 $951 $22,213 $— 
(1)    None of the trust fund assets for the defined benefit pension plan have been invested in shares of HMEC's common stock.
Summary of minimum funding requirement and the expected full year contributions for the Company's plans The following table discloses that minimum funding requirement and the expected full year contributions for the Company's plans.
($ in thousands)Defined Benefit Pension Plans
Defined
Benefit Plan		Supplemental
Defined Benefit Plans
Minimum funding requirement for 2020$— $— 
Expected contributions (approximations) for the year ended
December 31, 2021 at the time of issuance of this Form 10-K (1)
$— $1,282 
N/A - Not applicable.
(1)    HMEC's Annual Report on Form 10-K for the year ended December 31, 2020.
Estimated future benefit payments Estimated future benefit payments as of December 31, 2020 were as follows:
($ in thousands)202120222023202420252026-2030
Pension plans
Defined benefit plan
$2,131 $2,185 $1,979 $2,013 $1,942 $7,099 
Supplemental retirement plans
1,282 1,263 1,240 1,213 1,182 5,269