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Benefit Plans (Tables)
9 Months Ended
Sep. 30, 2020
Compensation And Retirement Disclosure [Abstract]  
Components of Company Plan Benefit Expense

The following table summarizes key information related to the Company’s pension plans and retirement agreements (in thousands):

 

 

 

Nine Months Ended

September 30,

2020

 

 

Year Ended

December 31,

2019

 

Change in Projected Benefit Obligation

 

 

 

 

 

 

 

 

Projected benefit obligation, beginning of period

 

$

37,551

 

 

$

32,474

 

Service cost

 

 

940

 

 

 

998

 

Interest cost

 

 

979

 

 

 

1,393

 

Actuarial gain

 

 

 

 

 

3,449

 

Other reclassification [1]

 

 

(8,925

)

 

 

 

Benefits paid

 

 

(563

)

 

 

(763

)

Projected benefit obligation, end of period

 

$

29,982

 

 

$

37,551

 

Change in Plan Assets

 

 

 

 

 

 

 

 

Plan assets at fair value, beginning of period

 

$

 

 

$

 

Company contributions

 

 

563

 

 

 

763

 

Benefits paid

 

 

(563

)

 

 

(763

)

Plan assets at fair value, end of period

 

$

 

 

$

 

Unfunded Status of the Plan

 

$

29,982

 

 

$

37,551

 

Components of Net Periodic Benefit Cost

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

2020

 

 

September 30,

2019

 

 

September 30,

2020

 

 

September 30,

2019

 

Components of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

313

 

 

$

300

 

 

$

940

 

 

$

749

 

Interest cost

 

 

326

 

 

 

348

 

 

 

979

 

 

 

1,045

 

Net loss

 

 

135

 

 

 

53

 

 

 

405

 

 

 

158

 

Net periodic pension cost

 

$

774

 

 

$

701

 

 

$

2,324

 

 

$

1,952