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Benefit Plans (Tables)
3 Months Ended
Mar. 31, 2021
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):

 

 

 

Three Months Ended

March 31,

2021

 

 

Year Ended

December 31,

2020

 

Change in Projected Benefit Obligation

 

 

 

 

 

 

 

 

Projected benefit obligation, beginning of period

 

$

33,530

 

 

$

37,551

 

Service cost

 

 

351

 

 

 

1,254

 

Interest cost

 

 

319

 

 

 

1,306

 

Actuarial gain

 

 

 

 

 

3,180

 

Other reclassification [1]

 

 

 

 

 

(8,925

)

Benefits paid

 

 

(216

)

 

 

(836

)

Projected benefit obligation, end of period

 

$

33,984

 

 

$

33,530

 

Change in Plan Assets

 

 

 

 

 

 

 

 

Plan assets at fair value, beginning of period

 

$

 

 

$

 

Company contributions

 

 

216

 

 

 

836

 

Benefits paid

 

 

(216

)

 

 

(836

)

Plan assets at fair value, end of period

 

$

 

 

$

 

Unfunded Status of the Plan

 

$

33,984

 

 

$

33,530

 

Components of Net Periodic Benefit Cost

 

 

 

Three Months Ended

 

 

 

 

March 31,

2021

 

 

March 31,

2020

 

 

Components of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

Service cost

 

$

351

 

 

$

313

 

 

Interest cost

 

 

319

 

 

 

326

 

 

Net loss

 

 

197

 

 

 

135

 

 

Net periodic pension cost

 

$

867

 

 

$

774