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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]  
Schedule of Pension plan's assets by asset type

The following table presents the Pension Plan’s assets by asset type as of the dates stated.

 

 

 

December 31, 2021

 

 

 

Amount

 

 

%

 

Mutual funds - equity

 

$

869

 

 

 

75

%

Mutual funds - fixed income

 

 

290

 

 

 

25

%

     Total

 

$

1,159

 

 

 

100

%

Summary of Fair value of Qualified trust assets and Funded (Unfunded) status of Pension Plan

The following table provides a reconciliation of changes in the accumulated benefit obligations and fair value of qualified trust assets (Pension Plan only) and a statement of funded (unfunded) status for the Pension Plan and the PRB Plan as of and for the period stated.

 

 

 

December 31, 2021

 

 

 

Pension Plan

 

 

PRB Plan

 

Change in benefit obligation

 

 

 

 

 

 

Benefit obligation, beginning of year

 

$

 

 

$

 

Assumed in business combination

 

 

2,041

 

 

 

65

 

Service cost

 

 

 

 

 

 

Interest cost

 

 

45

 

 

 

2

 

Actuarial loss (gain)

 

 

34

 

 

 

(9

)

Benefit payments

 

 

(971

)

 

 

(6

)

Settlement (gain) loss

 

 

 

 

 

 

Benefit obligation, end of year

 

 

1,149

 

 

 

52

 

Change in plan assets

 

 

 

 

 

 

Fair value of plan assets, beginning of year

 

 

 

 

 

 

Acquired in business combination

 

 

1,330

 

 

 

 

Actual return on plan assets

 

 

97

 

 

 

 

Employer contributions

 

 

703

 

 

 

6

 

Benefits payments

 

 

(971

)

 

 

(6

)

Fair value of plan assets, end of year

 

 

1,159

 

 

 

 

Funded (unfunded) status, end of year

 

$

10

 

 

$

(52

)

Schedule of Amounts Recognized in AOCI

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2021

 

 

 

Pension Plan

 

 

PRB Plan

 

Amounts recognized in accumulated other comprehensive loss (income)

 

 

 

 

 

 

Net loss (gain)

 

$

11

 

 

$

(9

)

Prior service cost

 

 

 

 

 

 

Net obligation at transition

 

 

 

 

 

 

Amount recognized

 

$

11

 

 

$

(9

)

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss)

 

Components of net periodic benefit (gain) cost

 

 

 

 

 

 

Service cost

 

$

 

 

$

 

Interest cost

 

 

45

 

 

 

2

 

Expected return on plan assets

 

 

(73

)

 

 

 

Amortization of prior service cost

 

 

 

 

 

 

Amortization of net obligation at transition

 

 

 

 

 

 

Recognized net loss due to settlement

 

 

 

 

 

 

Recognized net actuarial loss

 

 

 

 

 

 

Net periodic benefit (gain) cost

 

 

(28

)

 

 

2

 

 

Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive (income) loss

 

 

 

 

 

 

Net loss (gain)

 

 

11

 

 

 

(9

)

Amortization of prior service cost

 

 

 

 

 

 

Amortization of net obligation at transition

 

 

 

 

 

 

Total recognized in other comprehensive loss (income)

 

 

11

 

 

 

(9

)

Total recognized in net periodic benefit cost and other comprehensive
loss (income)

 

$

(17

)

 

$

(7

)

Schedule of assumptions used in the valuation and disclosures for the Pension Plan and the PRB Plan

The following table presents the assumptions used in the valuation of and disclosures for the Pension Plan and the PRB Plan for the period stated.

 

 

 

December 31, 2021

 

 

 

Pension Plan

 

 

PRB Plan

 

Discount rate used for net periodic pension cost

 

 

2.75

%

 

 

2.50

%

Discount rate used for disclosure (range)

 

1.02% - 3.08%

 

 

 

2.75

%

Expected return on plan assets

 

 

7.25

%

 

N/A

 

Rate of compensation increase

 

N/A

 

 

N/A

 

Rate of compensation increase for net periodic
   pension cost

 

N/A

 

 

N/A

 

Expected future interest crediting rate

 

 

3.00

%

 

N/A

 

Schedule of Expected Benefit Payments

The following table presents the expected benefit payments to be made from the Pension Plan and PRB Plan for the periods following the date stated.

 

 

 

December 31, 2021

 

 

 

Pension Plan

 

 

PRB Plan

 

2022

 

$

1,149

 

 

$

6

 

2023

 

 

 

 

 

6

 

2024

 

 

 

 

 

5

 

2025

 

 

 

 

 

5

 

2026

 

 

 

 

 

5

 

2027 - 2031

 

 

 

 

 

28