| 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 | |
|