| Investments Measured at Fair Value |
The following table sets forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2025:
| | | | | | | | | | | | | | | | | | |
| | |
|
Level 1
| |
|
Level 2
| |
|
Level 3
| |
|
Total
| |
| |
Mutual funds
|
| $ | 162,888,399 | |
| $ | — | |
| $ | — | |
| $ | 162,888,399 | |
| |
Employer securities
|
| | 10,294,738 | |
| | — | |
| | — | |
| | 10,294,738 | |
| |
Interest-bearing cash
|
| | 595 | |
| | — | |
| | — | |
| | 595 | |
| |
Self-directed investments
|
| | 16,723,284 | |
| | — | |
| | — | |
| | 16,723,284 | |
| |
Total investments in the fair value hierarchy
|
| $ | 189,907,016 | |
| $ | — | |
| $ | — | |
| $ | 189,907,016 | |
| |
Investments measured at NAV, as a practical expedient
|
| | | |
| | | |
| | | |
| | 224,035,994 | |
| |
Investments, at fair value
|
| | | |
| | | |
| | | |
| $ | 413,943,010 | |
The following table sets forth by level, within the fair value hierarchy, the Plan's investments at fair value as of December 31, 2024:
| | | | | | | | | | | | | | | | | | |
| | |
|
Level 1
| |
|
Level 2
| |
|
Level 3
| |
|
Total
| |
| |
Mutual funds
|
| $ | 144,336,182 | |
| $ | — | |
| $ | — | |
| $ | 144,336,182 | |
| |
Employer securities
|
| | 7,965,580 | |
| | — | |
| | — | |
| | 7,965,580 | |
| |
Interest-bearing cash
|
| | 555 | |
| | — | |
| | — | |
| | 555 | |
| |
Self-directed investments
|
| | 14,930,354 | |
| | — | |
| | — | |
| | 14,930,354 | |
| |
Total investments in the fair value hierarchy
|
| $ | 167,232,671 | |
| $ | — | |
| $ | — | |
| $ | 167,232,671 | |
| |
Investments measured at NAV, as a practical expedient
|
| | | |
| | | |
| | | |
| | 199,503,439 | |
| |
Investments, at fair value
|
| | | |
| | | |
| | | |
| $ | 366,736,110 | |
|
| Investments Measured at Fair Value |
The following table summarizes investments measured at fair value based on NAV per share, as a practical expedient, as of December 31, 2025 and 2024, respectively.
| | | | | | | | | | | | | | | | | December 31, 2025 | | Fair Value | | | Unfunded
Commitments | | Redemption
Frequency (if
currently eligible) | | Redemption
Notice Period | | | | Collective Trust Funds -Target Date | | $ | 173,377,184 | | | | None | | Daily | | 1 to 5 days | | | | Collective Trust Funds - Income | | $ | 20,460,497 | | | | None | | Daily | | 1 to 5 days | | | | Collective Trust Funds – Stable Value | | $ | 17,590,673 | | | | None | | Daily | | 0 to 10 days | | | | Collective Trust Funds – Small-Mid Cap | | $ | 12,607,640 | | | | None | | Daily | | 0 to 10 days | |
| | | | | | | | | | | | | | | | | December 31, 2024 | | Fair Value | | | Unfunded
Commitments | | Redemption
Frequency (if
currently eligible) | | Redemption
Notice Period | | | | Collective Trust Funds -Target Date | | $ | 153,849,810 | | | | None | | Daily | | 1 to 5 days | | | | Collective Trust Funds - Income | | $ | 12,805,582 | | | | None | | Daily | | 1 to 5 days | | | | Collective Trust Funds – Stable Value | | $ | 17,635,578 | | | | None | | Daily | | 0 to 10 days | | | | Collective Trust Funds – Small-Mid Cap | | $ | 15,212,469 | | | | None | | Daily | | 0 to 10 days | |
|