XML 96 R32.htm IDEA: XBRL DOCUMENT v3.20.1
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The following table summarizes the benefit obligations for the SERPs and Agents Non-Qualified Plan as of December 31, 2019 and 2018:
 
Year Ended December 31,
 
2019
 
2018
Change in benefit obligation:
 
 
 
Benefit obligation, January 1
$
80

 
$
88

Interest cost
3

 
3

Benefits paid
(5
)
 
(7
)
Actuarial (gains) losses on obligation
4

 
(4
)
Benefit obligation, December 31
$
82

 
$
80
Schedule of Amounts Recognized in Consolidated Balance Sheets
Amounts recognized on the Consolidated Balance Sheets in Other liabilities and in AOCI were as follows as of December 31, 2019 and 2018:
 
December 31,
 
2019
 
2018
Accrued benefit cost
$
(82
)
 
$
(80
)
Accumulated other comprehensive income (loss):
 
 
 
Prior service cost (credit)
—

 
—

Net amount recognized
$
(82
)
 
$
(80
)
Schedule of Weighted Average Assumptions Used
The weighted-average discount rate used in calculating the net pension cost was as follows:
 
2019
 
2018
 
2017
Discount rate
4.46
%
 
3.85
%
 
4.55
%

The discount rate used in the measurement of the December 31, 2019 and 2018 benefit obligation for the SERPs and Agents Non-Qualified Plan, were as follows:
 
2019
 
2018
Discount rate
3.36
%
 
4.46
%
Schedule of Net Periodic Benefit Costs
Net Periodic Benefit Costs
 
Net periodic benefit costs for the SERPs and Agents Non-Qualified Plan were as follows for the years ended December 31, 2019, 2018 and 2017:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Interest cost
$
3

 
$
3

 
$
4

Amortization of prior service cost (credit)
—

 
(1
)
 
(1
)
Net (gain) loss recognition
4

 
(4
)
 
1

Net periodic (benefit) cost
$
7

 
$
(2
)
 
$
4
Schedule of Expected Benefit Payments
Cash Flows

The following table summarizes the expected benefit payments related to the SERPs and Agents Non-Qualified Plan for the years indicated:
2020
$
6

2021
6

2022
6

2023
6

2024
5

2025-2029
25


In 2020, the Company is expected to contribute $6 to the SERPs and Agents Non-Qualified Plan.