Retirement Plans and Related Post Retirement Benefits (Tables) - SERP

12 Months Ended

Dec. 31, 2020

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Reconciliation of Beginning and Ending Balances of Projected Benefit Obligation

The reconciliation of the beginning and ending balances of the projected benefit obligation of the plans for the years ended December 31 is as follows:

(In thousands)	2020		2019
Funded Status
Projected Benefit Obligation
Beginning of the Year — January 1	$	26,547	$	21,970
Service Cost	223		181
Interest Cost	836		916
Actuarial Loss	4,472		3,827
Benefits Paid	(348)		(347)
End of the Year — December 31	$	31,730	$	26,547

Assumptions Used to Calculate the Post Retirement Benefit Obligation

The assumptions used to calculate the projected benefit obligation as of December 31 are as follows:

	2020	2019
Discount Rate	2.42%	3.17%
Future Average Compensation Increases	0.00% - 2.00%	2.00%

Summary of the Components of Net Periodic Cost

The following table summarizes the components of the net periodic cost for the years ended December 31:

(In thousands)	2020		2019		2018
Net Periodic Cost
Service Cost — Benefits Earned During Period	$	223	$	181	$	200
Interest Cost	836		916		899
Amortization of Prior Service Cost	386		386		386
Amortization of Losses	648		300		629
Net Periodic Cost	$	2,093	$	1,783	$	2,114

Assumptions Used to Determine the Net Periodic Cost

The assumptions used to determine the net periodic cost are as follows:

	2020	2019	2018
Discount Rate	3.17%	4.20%	3.60%
Future Average Compensation Increases	2.00%	2.00%	2.00% - 3.00%