EMPLOYEE RETIREMENT PLANS

12 Months Ended

Dec. 31, 2016

Compensation And Retirement Disclosure [Abstract]

EMPLOYEE RETIREMENT PLANS

10.EMPLOYEE RETIREMENT PLANS

The Company sponsors and contributes to a qualified, defined contribution savings and investment plan, covering substantially all U.S. employees. The B/E Aerospace, Inc. Savings Plan was established pursuant to Section 401(k) of the Internal Revenue Code. Under the terms of this plan, covered employees may contribute up to 100% of their pay, limited to certain statutory maximum contributions for 2016. Participants are vested in matching contributions immediately and the matching percentage is 100% of the first 3% of employee contributions and 50% on the next 2% of employee contributions. Total expense for the plan was $10.9,  $11.3 and $13.3 for the years ended December 31, 2016, 2015 and 2014. In addition, the Company contributes to the B/E Aerospace, Inc. Hourly Tax-Sheltered Retirement Plan. This plan was established pursuant to Section 401(k) of the Internal Revenue Code and covers certain U.S. union employees. Total expense for the plan was $0.5,  $0.4 and $0.4 for the years ended December 31, 2016, 2015 and 2014.

The Company sponsors and contributes to a supplemental executive retirement plan (“SERP”) for certain employees. This deferred compensation plan was established pursuant to Section 409A of the Internal Revenue Code. The SERP is an unfunded plan maintained for the purpose of providing deferred compensation for certain employees. This plan allows certain employees to annually elect to defer a portion of their compensation, on a pre-tax basis, until their retirement or a specified date. The benefit to be provided is based on the amount of compensation deferred. The Company makes cash matching contributions and earnings on deferrals. Compensation expense under this program was $2.4,  $2.1 and $1.8 in 2016, 2015 and 2014, respectively.

The Company and its subsidiaries participate in government-sponsored programs in certain foreign countries. The Company funds these plans based on legal requirements, tax considerations, local practices and investment opportunities.