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RETIREMENT PLANS AND RELATED POST RETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Summary of 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)20232022
Funded Status
Projected Benefit Obligation
Beginning of the Year — January 1$26,210 $30,503 
Service Cost105 138 
Interest Cost1,302 834 
Actuarial Loss (Gain)1,529 (4,917)
Benefits Paid(348)(348)
End of the Year — December 31$28,798 $26,210 
Summary of 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:
20232022
Discount Rate4.79%5.00%
Future Average Compensation Increases3.00%
2.00% - 3.00%
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)202320222021
Net Periodic Cost
Service Cost — Benefits Earned During Period$105 $138 $195 
Interest Cost1,302 834 764 
Amortization of Prior Service Cost386 386 386 
Amortization of Losses358 949 1,292 
Net Periodic Cost$2,151 $2,307 $2,637 
Summary of Assumptions Used to Determine the Net Periodic Cost
The assumptions used to determine the net periodic cost are as follows:
202320222021
Discount Rate5.00%2.75%2.42%
Future Average Compensation Increases
2.00% - 3.00%
2.00% - 3.00%
2.00% - 3.00%