Rendering

Component: (Network and Table)
Network
00000030 - Disclosure - Pension and Profit Sharing (Tables)
(http://acu.com/role/PensionAndProfitSharingTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Plan Asset Allocation

Asset Category 2016 2015
Equity Securities 65% 58%
Fixed Income Securities 32% 37%
Other Securities / Investments 3% 5%
Total 100% 100%

 

 
 
Pension Plan Assets by Level

2016  Level 1  Level 2  Level 3  Total
Money Market Fund  $19,327   $19,897   $—     $39,224 
Acme United Common Stock   —      —      —      —   
Equity Common and Collected Funds   131,737    705,523    —      837,260 
Fixed Income Common and Collected Funds   104,491    313,752    —      418,243 
Total  $255,555   $1,039,172   $—     $1,294,727 

 

 

2015  Level 1  Level 2  Level 3  Total
Money Market Fund  $66,914   $—     $—     $66,914 
Acme United Common Stock   174,000    —      —      174,000 
Equity Common and Collected Funds   —      652,135    —      652,135 
Fixed Income Common and Collected Funds   —      524,523    —      524,523 
Total  $240,914   $1,176,658   $—     $1,417,572 

 

 
 
Changes in Benefit Obligation

   2016  2015
Assumptions used to determine benefit obligation:          
  Discount rate   3.40%   3.50%
Changes in benefit obligation:          
Benefit obligation at beginning of year  $(1,776,788)  $(1,904,377)
Interest cost   (55,811)   (59,348)
Service cost   (36,000)   (25,000)
Actuarial gain (loss)   99,019    (62,677)
Benefits and plan expenses paid   269,782    274,614 
Benefit obligation at end of year   (1,499,798)   (1,776,788)
           
Changes in plan assets:          
Fair value of plan assets at beginning of year   1,417,572    1,684,535 
Actual return on plan assets   146,937    (22,349)
Employer contribution   —      30,000 
Benefits and plan expenses paid   (269,782)   (274,614)
Fair value of plan assets at end of year   1,294,727    1,417,572 
Funded status  $(205,071)  $(359,216)
           
Amounts recognized in Accumulated Other Comprehensive Income:          
Net actuarial loss  $1,128,647   $1,423,319 
Prior service cost   2,168    2,711 
Total  $1,130,815   $1,426,030 

 

 
 
Components of Net Benefit Expense

   2016  2015
Assumptions used to determine net periodic benefit cost:          
  Discount rate   3.50%   3.23%
  Expected return on plan assets   6.00%   6.00%
Components of net benefit expense:          
Interest cost  $55,811   $59,348 
Service cost   36,000    25,000 
Expected return on plan assets   (76,138)   (92,620)
Amortization of prior service costs   543    9,155 
Amortization of actuarial loss   124,854    122,352 
Net periodic benefit cost  $141,070   $123,235 

  

 
 
Amounts Recognized in Other Comprehensive Income

   2016  2015
       
Balance at beginning of the year  $1,426,030   $1,379,890 
Change in net loss   (169,818)   177,647 
Amortization of actuarial loss   (124,854)   (122,352)
Amortization of prior service cost   (543)   (9,155)
     Change recognized in other comprehensive income   (295,215)   46,140 
Total recognized in other comprehensive income  $1,130,815   $1,426,030 

 

 
 
Benefits Expected to be Paid

2017   $207,000 
2018    187,000 
2019    169,000 
2020    152,000 
2021    136,000 
Years 2022 - 2026    488,000