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Employee Benefit Plans
12 Months Ended
Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]  
Employee Benefit Plans

10.    EMPLOYEE BENEFIT PLANS

Defined Contribution Plans—The Company sponsors a qualified defined contribution plan covering substantially all its employees. The plan provides for Company matching contributions based upon a percentage of the employee’s voluntary contributions.  The Company reinstated the matching contributions in July 2016, which had been suspended since 2009. The Company’s matching contributions were $1.6 million, $1.6 million and $0.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Defined Benefit Plans—The Company participates in several multi-employer pension plans that provide benefits to certain employees under collective bargaining agreements.  The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects: (1) assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers, (2) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers, and (3) if the Company chooses to stop participating in some of its multi-employer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.  The Company’s total contributions to these plans were $0.9 million, $0.8 million, and $0.8 million in the years ended December 31, 2018, 2017 and 2016, respectively.  A majority of the contributions were to the Western Conference of Teamsters Pension Plan.  The Company does not contribute more than 5% percent of total contributions for any of these multi-employer pension plans.  The Company’s participation in the multi-employer pension plans as of December 31, 2018 is outlined in the table below.

 

 

 

 

 

 

 

 

 

 

 

Expiration Date

 

 

 

 

 

 

Pension

 

Financial

 

 

 

of Collective-

 

12/31/2018

 

 

 

 

Protection Act

 

Improvement

 

Surcharge

 

Bargaining

 

Company

Legal Name of Plan

 

EIN - Plan Number

 

Zone Status

 

Plan

 

Imposed

 

Agreement

 

Participants

Western Conference of Teamsters Pension Plan

 

91-6145047 - 001

 

Funded > 80%

 

No

 

No

 

12/1/2019 to

 

91

 

 

 

 

 

 

 

 

 

 

4/30/2021

 

 

Southern California Lumber Industry

   Retirement Fund

 

95-6035266 - 001

 

Funded > 80%

 

No

 

No

 

6/30/2020

 

22

Central States, Southeast and Southwest Areas

   Pension Plan

 

36-6044243 - 001

 

Funded < 65%

 

Implemented

 

No

 

12/27/2020

 

3