XML 30 R19.htm IDEA: XBRL DOCUMENT v3.21.1
Pension Information
3 Months Ended
Mar. 31, 2021
Compensation And Retirement Disclosure [Abstract]  
Pension Information

(11) Pension Information

The Company sponsors a pension plan which is a noncontributory defined benefit retirement plan. Annual payments, subject to the maximum amount deductible for federal income tax purposes, are made to a pension trust fund. In 2006, the Company amended the pension plan to provide that no employee could be added as a participant to the pension plan after December 31, 2006. In 2014, the Company amended the pension plan again to provide that no additional benefits would accrue beyond April 30, 2014.

Net periodic pension cost was as follows:

 

 

 

Three months ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Service cost

 

$

 

 

$

 

Interest cost

 

 

95

 

 

 

121

 

Expected return on plan assets

 

 

(160

)

 

 

(187

)

Other components

 

 

82

 

 

 

73

 

Net periodic pension cost

 

$

17

 

 

$

7

 

 

The Company does not expect to make any contribution to its pension plan in 2021. The Company made no contribution to its pension plan in 2020.