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Component: (Network and Table)
Network
00000038 - Disclosure - PENSION PLAN (Tables)
(http://pioneerpower.com/role/PensionPlanTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001449792 (http://www.sec.gov/CIK)
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]
 
Schedule of pension plan expenses

The components of the expense the Company incurred under the pension plan are as follows:

       
    Year Ended December 31,  
    2016     2015  
Current service cost, net of employee contributions   $ 46     $ 50  
Interest cost on accrued benefit obligation     102       103  
Expected return on plan assets     (163 )     (160 )
Amortization of transitional obligation     10       10  
Amortization of past service costs     7       7  
Amortization of net actuarial gain     37       44  
Total cost of benefit   $ 39     $ 54  
  
Schedule of reconciliation of projected benefit obligation

The Company’s obligations pursuant to the pension plan are as follows: 

             
    December 31,  
    2016     2015  
Projected benefit obligation, at beginning of year   $ 2,578     $ 3,057  
Current service cost, net of employee contributions     46       50  
Employee contributions     30       30  
Interest cost     102       103  
Actuarial loss (gain)     15       (66 )
Impact of change in discount rate     39       (37 )
Benefits paid     (167 )     (160 )
Foreign exchange adjustment     (15 )     (399 )
Projected benefit obligation, at end of year   $ 2,628     $ 2,578  
  
Schedule of expected benefit payments

A summary of expected benefit payments related to the pension plan is as follows:

         
Years Ending December 31,     Pension Plan  
2017     $ 159  
2018       158  
2019       154  
2020       151  
2021       147  
2022-2026       689  
             

  
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)

Other changes in plan assets and benefit obligations recognized in other comprehensive income / (loss) are as follows:

 

    Year Ended December 31,  
    2016     2015  
Net (loss) / gain   $ (220 )   $ 108  
Amortization of prior service cost     7       7  
Amortization of gain     37       44  
Amortization of transitional asset     10       11  
      (166 )     170  
Taxes     (9 )     46  
Total recognized in other comprehensive (loss) / income, net of taxes   $ (157 )   $ 124  
  
Schedule of amounts not yet been recognized as components of net benefit cost included in accumulated other comprehensive income (loss)

The accumulated other comprehensive income / (loss) consists of the following amounts that have not yet been recognized as components of net benefit cost:

 

    December 31,  
    2016     2015  
Unrecognized prior service cost   $ 96     $ 96  
Unrecognized net actuarial loss     1,348       48  
Unrecognized transitional obligation     58       1,191  
Deferred income taxes     (404 )     (394 )
Total   $ 1,098     $ 941  
  
Schedule of asset allocations

The asset allocation for the pension plan at the end of 2016 and 2015 and the target allocation for 2017, by asset category, is as follows:

 

                   
    December 31,     2017 Target  
    2016     2015     Allocation  
Equity securities     37 %     43 %     37 %
Fixed income securities     53       47       53  
Real estate     8       8       8  
Other     2       2       2  
Total     100 %     100 %     100 %
  
Schedule of fair value of plan assets

The fair market values, by asset category are as follows:

 

    Fair Value Measurements  
    at December 31,  
    2016     2015  
Equity securities   $ 909     $ 1,082  
Fixed income securities     1,302       1,182  
Real estate     196       201  
Other     49       50  
Total   $ 2,456     $ 2,515  
  
Schedule of changes in the assets held by the pension plan

Changes in the assets held by the pension plan in the years 2016 and 2015 are as follows: 

         
   December 31, 
   2016   2015 
Fair value of plan assets, at beginning of year  $2,515   $2,706 
Actual return on plan assets   (3)   164 
Employer contributions   96    135 
Employee contributions   30    30 
Benefits paid   (167)   (160)
Foreign exchange adjustment   (15)   (360)
Fair value of plan assets, at end of year  $2,456   $2,515 

  
Schedule of funded status

The funded status of the pension plan is as follows:

 

    December 31,  
    2016     2015  
Projected benefit obligation   $ 2,628     $ 2,578  
Fair value of plan assets     2,456       2,515  
Accrued obligation (long term)   $ 172     $ 63  
  
Schedule of assumptions used in accounting for the pension plan

Assumptions used in accounting for the pension plan are as follows:

 

    December 31,  
    2016     2015  
Weighted average discount rate used to determine the accrued benefit obligations     3.80 %     3.90 %
Discount rate used to determine the net pension expense     3.90 %     3.80 %
Expected long-term rate on plan assets     6.50 %     6.50 %