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Multiemployer Plans that Provide Pension Benefits
12 Months Ended
Mar. 03, 2018
Multiemployer Plans that Provide Pension Benefits  
Multiemployer Plans that Provide Pension Benefits

20. Multiemployer Plans that Provide Pension Benefits

        The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover certain of its union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans. Assets contributed to the 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 may be borne by the remaining participating employers. Additionally, if the Company chooses to stop participating in some of its multiemployer 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 participation in these plans for the annual period ended March 3, 2018 is outlined in the table below. The "EIN/Pension Plan Number" column provides the Employer Identification Number (EIN) and the three- digit plan number, if applicable. The most recent Pension Protection Act (PPA) zone status available for fiscal 2018 and fiscal 2017 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 less than 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 two columns list the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject and any minimum funding requirements. There have been no significant changes that affect the comparability of total employer contributions of fiscal years 2018, 2017, and 2016.

                                                                                                                                                                                    

 

 

 

 

Pension Protection
Act Zone Status

 

 

 

 

 

 

 

 

 

 

 

Expiration
Date of
Collective-
Bargaining
Agreement

 

 

 

 

 

 

FIP/ RP
Status
Pending/
Implemented

 

Contributions of the Company

 

 

 

 

 

 

EIN/Pension
Plan Number

 

Surcharge
Imposed

 

Minimum
Funding
Requirements

Pension

 

2018

 

2017

 

2018

 

2017

 

2016

1199 SEIU Health Care Employees Pension Fund

 

 

13-3604862-001

 

 

Green—
12/31/2016

 

 

Green—
12/31/2015

 

No

 

$

7,372

 

$

7,152

 

$

7,775

 

No

 

 

4/18/2015

 

Contribution rate of 10.76% of gross wages earned per associate beginning 01/01/2016.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contribution rate of 10.22% of gross wages earned per associate from 01/01/2015 through 12/31/2015.

Southern California United Food and Commercial Workers Unions and Drug Employers Pension Fund

 

 

51-6029925-001

 

 

Red—
12/31/2017

 

 

Red—
12/31/2016

 

Implemented

 

 

8,149

 

 

8,021

 

 

7,552

 

No

 

 

7/14/2018

 

Subsequent to 01/01/2018 contributions of $1.586 per hour worked. From 01/01/2017 to 12/31/2017 contributions of $1.50 per hour worked.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From 01/01/2016 to 12/31/2016 contributions of $1.41 per hour worked. From 01/01/2015 through 12/31/2015 contributions of $1.328 per hour worked for pharmacists and $0.602 per hour worked for non pharmacists.

UFCW Pharmacists, Clerks and Drug Employers Pension Trust

 

 

94-2518312-001

 

 

Green—
12/31/2017

 

 

Green—
12/31/2016

 

No

 

 

2,739

 

 

2,970

 

 

3,006

 

No

 

 

7/13/2019

 

Effective 09/01/2014, contribution rate frozen at $0.55 per hour worked for associates.

United Food and Commercial Workers Union-Employer Pension Fund

 

 

34-6665155-001

 

 

Red—
9/30/2017

 

 

Red—
9/30/2016

 

Implemented

 

 

786

 

 

827

 

 

732

 

No

 

 

12/31/2017

 

Effective 02/05/2017 contribution rate of $1.89 per hour worked.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective 02/07/2016 through 02/04/2017 contribution rate of $1.76 per hour worked.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective 02/02/2015 through 02/06/2016 contribution rate of $1.62 per hour worked.

United Food and Commercial Workers Union Local 880—Mercantile Employers Joint Pension Fund

 

 

51-6031766-001

 

 

Yellow—
9/30/2017

 

 

Yellow—
9/30/2016

 

Implemented

 

 

495

 

 

504

 

 

454

 

No

 

 

12/31/2017

 

Effective 01/01/2017 contribution rate $1.88 per hour worked.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective 01/01/2016 through 12/31/2016 contribution rate of $1.79 per hour worked.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective 10/01/2015 through 12/31/2015 contribution rate of $1.70 per hour worked.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective 01/01/2015 through 09/30/2015 contribution rate of $1.61 per hour worked.

Other Funds

 

 

 

 

 

 

 

 

 

 

 

 

 

1,438

 

 

1,862

 

 

1,263

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

 

 

 

 

 

 

 

 

 

 

 

 

 

$

20,979

 

$

21,336

 

$

20,782

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

        The Company was listed in these plans Forms 5500 as providing more than 5 percent of the total contributions for the following plans and plan years:

                                                                                                                                                                                    

Pension Fund

 

Year Contributions to Plan
Exceeded More Than 5 Percent
of Total Contributions (as of
the Plan's Year-End)

 

UFCW Pharmacists, Clerks and Drug Employers Pension Trust

 

 

12/31/2016 and 12/31/2015

 

Southern California United Food and Commercial Workers Unions and Drug Employers Pension Fund

 

 

12/31/2016 and 12/31/2015

 

United Food & Commercial Workers Union- Employer Pension Fund

 

 

9/30/2016 and 9/30/2015

 

United Food & Commercial Workers Union Local 880—Mercantile Employers Joint Pension Fund

 

 

9/30/2016 and 9/30/2015

 

        At the date the Company's financial statements were issued, certain Forms 5500 were not available.

        During fiscal 2018, 2017 and 2016, the Company did not withdraw from any plans or incur any additional withdrawal liabilities.