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2313301 - Disclosure - RETIREMENT PLANS (Tables)
(http://www.acnb.com/role/RetirementPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Postemployment Benefits [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Postemployment Benefits [Abstract]
 
Schedule of Benefit Plan Funded Status
A measurement date of December 31 has been used for the fiscal years ended December 31, 2016 and 2015.
In thousands
2016
 
2015
Change in benefit obligation:
 
 
 
Benefit obligation at beginning of year
$
26,670

 
$
27,165

Service cost
795

 
881

Interest cost
1,136

 
1,040

Change in assumptions
1,059

 
(1,438
)
Benefits paid
(1,035
)
 
(978
)
Benefit obligation at end of year
28,625

 
26,670

Change in plan assets:
 
 
 
Fair value of plan assets at beginning of year
36,880

 
38,163

Actual return on plan assets
2,870

 
(305
)
Employer contribution

 

Benefits paid
(1,035
)
 
(978
)
Fair value of plan assets at end of year
38,715

 
36,880

Funded Status, included in other assets
$
10,090

 
$
10,210

Amounts recognized in accumulated other comprehensive loss:
 
 
 
Total net actuarial loss
$
8,859

 
$
8,923

Prior service cost

 
1

Total included in accumulated other comprehensive loss (pretax)
$
8,859

 
$
8,924

 
 
Estimated Costs To Be Amortized From AOCI Into Net Periodic Pension Cost During The Next Fiscal Year
The estimated costs that will be amortized from accumulated other comprehensive loss into net periodic pension cost during the next fiscal year are as follows:
In thousands
 
Net loss
$
677

Prior service cost

 
$
677

 
 
Components Of Net Periodic Benefit Costs (Income)
The components of net periodic benefit costs (income) related to the non-contributory, defined benefit pension plan for the years ended December 31 are as follows:
In thousands
2016
 
2015
 
2014
Components of net periodic benefit cost (income):
 
 
 
 
 
Service cost
$
795

 
$
881

 
$
689

Interest cost
1,136

 
1,040

 
1,035

Expected return on plan assets
(2,429
)
 
(2,542
)
 
(2,311
)
Recognized net actuarial loss
682

 
481

 
21

Amortization of prior service cost
1

 
24

 
40

Net Periodic Benefit Cost (Income)
185

 
(116
)
 
(526
)
Net loss
618

 
1,409

 
4,349

Amortization of net loss
(682
)
 
(481
)
 
(21
)
Amortization of prior service cost
(1
)
 
(24
)
 
(40
)
Total recognized in other comprehensive (income) loss
$
(65
)
 
$
904

 
$
4,288

Total recognized in net periodic benefit cost and other comprehensive loss
$
120

 
$
788

 
$
3,762

 
 
Assumptions Used To Determine The Benefit Obligation and Net Periodic Benefit Cost (Income)
For the years ended December 31, 2016, 2015 and 2014, the assumptions used to determine the benefit obligation are as follows:
 
2016
 
2015
 
2014
Discount rate
4.05
%
 
4.35
%
 
3.90
%
Rate of compensation increase
3.50
%
 
3.50
%
 
3.75
%
For the years ended December 31, 2016, 2015 and 2014, the assumptions used to determine the net periodic benefit cost (income) are as follows:
 
2016
 
2015
 
2014
Discount rate
4.35
%
 
3.90
%
 
4.75
%
Expected long-term rate of return on plan assets
6.75
%
 
6.75
%
 
6.75
%
Rate of compensation increase
3.50
%
 
3.75
%
 
3.75
%
 
 
Pension Plan Weighted-Average Assets' Allocations
The Corporation’s pension plan weighted-average assets’ allocations at December 31, 2016 and 2015, are as follows:
 
2016
 
2015
Equity securities
48
%
 
48
%
Debt securities
46
%
 
47
%
Short-term fixed income
%
 
%
Real estate
6
%
 
5
%
 
100
%
 
100
%
 
 
Fair Value Measurements
Fair value measurements at December 31, 2016, are as follows:
In thousands
Total
 
Level 1
 
Level 2
 
Level 3
Equity securities
$
18,687

 
$
2,175

 
$
16,512

 
$

Debt securities
17,888

 

 
17,888

 

Real estate
2,140

 

 
2,140

 

Fair value measurements at December 31, 2015, are as follows:
In thousands
Total
 
Level 1
 
Level 2
 
Level 3
Equity securities
$
17,618

 
$
1,437

 
$
16,181

 
$

Debt securities
17,463

 

 
17,463

 

Real estate
1,799

 

 
1,799

 

 
 
Future Benefit Payments
Based on current data and assumptions, the following benefit payments, which reflect expected future service, as appropriate, are:
Years Ending
In thousands
2017
$
1,220

2018
1,300

2019
1,400

2020
1,430

2021
1,630

2022 - 2026
8,910