EMPLOYEE RETIREMENT SAVINGS PLAN

12 Months Ended

Dec. 30, 2017

Compensation and Retirement Disclosure [Abstract]

EMPLOYEE RETIREMENT SAVINGS PLAN

13) EMPLOYEE RETIREMENT SAVINGS PLAN

Established under Internal Revenue Code Section 401(k), the Valmont Employee Retirement Savings Plan (“VERSP”) is a defined contribution plan available to all eligible employees. Participants can elect to contribute up to 50% of annual pay, on a pretax and/or after-tax basis. The Company also makes contributions to the Plan and a non-qualified deferred compensation plan for certain Company executives. The 2017, 2016 and 2015 Company contributions to these plans amounted to approximately $11,800, $10,900 and $11,700 respectively.

The Company sponsors a fully‑funded, non-qualified deferred compensation plan for certain Company executives who otherwise would be limited in receiving company contributions into VERSP under Internal Revenue Service regulations. The invested assets and related liabilities of these participants were approximately $39,091 and $35,784 at December 30, 2017 and December 31, 2016, respectively. Such amounts are included in “Other assets” and “Deferred compensation” on the Consolidated Balance Sheets. Amounts distributed from the Company’s non-qualified deferred compensation plan to participants under the transition rules of section 409A of the Internal Revenue Code were approximately $2,672 and $5,317 at December 30, 2017 and December 31, 2016, respectively. All distributions were made in cash.