Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Components of Company Plan Benefit Expense

The following table summarizes key information related to the Company’s pension plans and retirement agreements. The table illustrates the reconciliation of the beginning and ending balances of the benefit obligation showing the effects during the periods presented attributable to service cost, interest cost, plan amendments, termination benefits, actuarial gains and losses. The assumptions used in the Company’s calculation of accrued pension costs are based on market information and the Company’s historical rates for employment compensation and discount rates.



	December 31, 2018			December 31, 2017
Accumulated Benefit Obligation, End of Year	$	25,777		$	25,457

Change in Projected Benefit Obligation
Projected Benefit Obligation, Beginning of Year	$	32,820		$	28,624
Service Cost	1,200			1,001
Interest Cost	1,242			1,228
Actuarial (Gain) Loss	(2,166		)	2,474
Benefits Paid	(622		)	(507		)
Projected Benefit Obligation, End of Year	$	32,474		$	32,820
Change in Plan Assets
Plan Assets at Fair Value, Beginning of Year	$	—		$	—
Company Contributions	622			507
Benefits Paid	(622		)	(507		)
Plan Assets at Fair Value, End of Year	$	—		$	—
Unfunded Status of the Plan	$	(32,474	)	$	(32,820	)
Amounts Recognized in Accumulated Other Comprehensive Income
Net Loss	5,047			7,745
Total Pension Cost	$	5,047		$	7,745

Components of Net Periodic Benefit Cost



	2018			2017
Components of Net Periodic Benefit Cost
Service Cost	$	1,200		$	1,001
Interest Cost	1,242			1,228
Amortization of:
Net Loss	532			291
Net Periodic Pension Cost	$	2,974		$	2,520
Weighted Average Assumptions for Expense
Discount Rate	4.50		%	3.80		%
Expected Return on Plan Assets	N/A			N/A
Rate of Compensation Increase	4.40		%	4.40		%

Benefit payments representing the company's obligations to employees

The benefit payments reflected in the table below represent the Company’s obligations to employees that are eligible for retirement or have already retired and are receiving deferred compensation benefits:



Fiscal Year	Pension Benefits
	(In thousands)
2019	$	9,105
2020	882
2021	874
2022	865
2023	856
Thereafter	19,892

	$	32,474