COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 27, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of workers’ compensation collateral commitments

We have provided our insurance carriers and certain states with commitments in the form and amounts listed below:

(in thousands)	June 27, 2021		December 27, 2020
Cash collateral held by workers’ compensation insurance carriers	$	22,609	$	22,253
Cash and cash equivalents held in Trust	26,344		29,410
Investments held in Trust	135,894		152,247
Letters of credit (1)	6,095		6,095
Surety bonds (2)	20,831		20,616
Total collateral commitments	$	211,773	$	230,621

(1)We have agreements with certain financial institutions to issue letters of credit as collateral.

(2)Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days’ notice.