Multiemployer Pension and Postretirement Plans

12 Months Ended

Jan. 03, 2015

NOTE 10

MULTIEMPLOYER PENSION AND POSTRETIREMENT PLANS

The Company contributes to multiemployer defined contribution pension and postretirement benefit plans under the terms of collective-bargaining agreements that cover certain unionized employee groups in the United States. Contributions to these plans are included in total pension and postretirement benefit expense as reported in Notes 8 and 9, respectively.

Pension benefits

The risks of participating in multiemployer pension plans are different from single-employer plans. Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. If a participating employer stops contributing to the plan, the unfunded obligations of the plan are borne by the remaining participating employers.

The Company's participation in multiemployer pension plans for the year ended January 3, 2015, is outlined in the table below. The "EIN/PN" column provides the Employer Identification Number (EIN) and the three-digit plan number (PN). The most recent Pension Protection Act (PPA) zone status available for 2014 and 2013 is for the plan year-ends as indicated below. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are between 65 percent and 80 percent funded, and plans in the green zone are at least 80 percent funded. The "FIP/RP Status Pending/Implemented" column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. In addition to regular plan contributions, the Company may be subject to a surcharge if the plan is in the red zone. The “Surcharge Imposed” column indicates whether a surcharge has been imposed on contributions to the plan. The last column lists the expiration date(s) of the collective-bargaining agreement(s) (CBA) to which the plans are subject.

PPA Zone Status

FIP/RP Status

Contributions by the Company (millions)

Pension trust fund

EIN/PN

2014

2013

Pending/ Implemented

2014

2013

2012

Surcharge Imposed

Expiration Date of CBA

Bakery and Confectionary Union and Industry International Pension Fund (a)

52-6118572 / 001

Red - 12/31/2014

Red - 12/31/2013

Implemented

$ 5.4

$ 5.2

$ 4.8

Yes

10/31/2015 to 4/30/2017

Central States, Southeast and Southwest Areas Pension Fund (b)

36-6044243 / 001

Red - 12/31/2014

Red - 12/31/2013

Implemented

4.5

4.3

Yes

1/31/2015 to 10/31/2017

Western Conference of Teamsters Pension Trust ( c )

91-6145047 / 001

Green - 12/31/2014

Green - 12/31/2013

N/A

1.6

1.5

1.3

1/31/2015 to 3/29/2018

Hagerstown Motor Carriers and Teamsters Pension Fund

52-6045424 / 001

Red - 6/30/2015

Red - 6/30/2014

Implemented

0.5

0.4

10/3/2015

Local 734 Pension Plan

51-6040136 / 001

Red - 4/30/2015

Red - 4/30/2014

Implemented

0.3

Yes

4/1/2015

Twin Cities Bakery Drivers Pension Plan

41-6172265 / 001

Green - 12/31/2014

Red - 12/31/2013

N/A

0.2

Yes

5/31/2015

Upstate New York Bakery Drivers and Industry Pension Fund

15-0612437 / 001

Green - 6/30/2014

Green - 6/30/2013

N/A

0.2

0.1

9/10/2017

Other Plans

2.0

2.2

2.1

Total contributions:

$ 14.7

$ 14.5

$ 13.5

(a) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 70 percent of the Company's participants in this fund are covered by a single CBA that expires on 4/30/2017.

(b) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 7/27/2017.

(c) The Company is party to multiple CBAs requiring contributions to this fund, each with its own expiration date. Over 40 percent of the Company's participants in this fund are covered by a single CBA that expires on 3/24/2018.


The Company was listed in the Forms 5500 of the following plans as of the following plan year ends as providing more than 5 percent of total contributions:

Pension trust fund	Contributions to the plan exceeded more than 5% of total contributions (as of the Plan's year end)
Hagerstown Motor Carriers and Teamsters Pension Fund	6/30/2013 and 6/30/2012
Local 734 Pension Plan	4/30/2014, 4/30/2013 and 4/30/2012
Twin Cities Bakery Drivers Pension Plan	12/31/2013, 12/31/2012 and 12/31/2011
Baker's Local 433 Pension Plan	12/31/2013
Upstate New York Bakery Drivers and Industry Pension Fund	6/30/2013 and 6/30/2012