b'NOTE 12. PENSION PLANThe Bank sponsors The Allegheny Group Retirement Plan for Employees of CNB Bank, Inc., a defined benefit pension plan.Prior to August 1, 2016, all employees participated in the plan upon completion of one year of service and attaining the age of 21.Effective July 31, 2016, the plan was frozen and only employees eligible to participate as of that date were covered by the plan.All participants in the plan became fully vested as a result of the freeze.Revisions to the benefit calculation were also implemented at this same time to base the benefit on the number of years served prior to July 31, 2016.Therefore, the accumulated benefit obligation is the same as the projected benefit obligation and there is no annual service cost.The benefits were based on years of service and the highest average earnings during any five consecutive calendar years prior to the pension freeze date of July 31, 2016.The following table sets forth information about the Banks plan:December 31, December 31,2019 2018Change in benefit obligation: Benefit obligation at beginning of year $10,985,077 $12,092,986 Interest cost454,263420,699 Actuarial gain 165,58684,228 Benefits paid( 436,823) (454,301) Assumption changes 1,672,970(1,158,535) Benefit obligation at end of year $12,841,073 $10,985,077Change in plan assets: Fair value of plan assets atbeginning of year $8,545,240 $9,630,494 Actual return on plan assets 1,407,591 (630,953) Employer contribution Benefits paid( 436,823)( 454,301) Fair value of plan assetsat end of year $9,516,008 $8,545,240Funded status $( 3,325,065) $( 2,439,837)Unrecognized net actuarial loss 5,271,742 4,427,207 Prepaid benefit cost $1,946,677 $1,987,370 December 31,December 31, 2019 2018Components of net periodic cost:Interest cost $ 454,263 $ 420,699Expected return on plan assets( 639,068) (656,964)Recognized net actuarial loss225,498295,850Net periodic plan cost $ 40,693 $ 59,585 30'