XML 56 R41.htm IDEA: XBRL DOCUMENT v3.22.0.1
Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Summary of Plan Information Relating to Participation in Multiemployer Pension Plans The following table summarizes plan information relating to Quanta’s participation in multiemployer defined benefit pension plans, including company contributions for the last three years, the status of the plans under the PPA and whether the plans are subject to a funding improvement or rehabilitation plan or contribution surcharges. The most recent PPA zone status available in 2021 and 2020 relates to the plans’ fiscal year-ends in 2020 and 2019. Forms 5500 were not yet available for the plan years ending in 2021. The PPA zone status is based on information that Quanta received from the respective plans, as well as publicly available information on the U.S. Department of Labor website, and is certified by the plan’s actuary. Although multiple factors or tests may result in red zone or yellow zone status, plans in the red zone generally are less than 65 percent funded, plans in the yellow zone generally are less than 80 percent funded, and plans in the green zone generally are at least 80 percent funded. Under the PPA, red zone plans are classified as “critical” status, yellow zone plans are classified as “endangered” status and green zone plans are classified as neither “endangered” nor “critical” status. The “Subject to Financial Improvement/ Rehabilitation Plan” column indicates plans for which a financial improvement plan or a rehabilitation plan is either pending or has been implemented. The last column lists the expiration dates of Quanta’s collective-bargaining agreements to which the plans are subject. Total contributions to these plans correspond to the number of union employees employed at any given time and the plans in which they participate and vary depending upon the location and number of
ongoing projects at a given time and the need for union resources in connection with such projects. Information has been presented separately for individually significant plans, based on PPA funding status classification, and in the aggregate for all other plans.
Employee Identification Number/ Pension Plan NumberPPA Zone StatusSubject to Financial Improve- ment/ Reha- bilitation PlanContributions (in thousands)Sur-charge ImposedExpiration Date of Collective Bargaining Agreement
Fund20212020202120202019
National Electrical Benefit Fund53-0181657GreenGreenNo$38,195 $40,902 $44,414 NoVaries through May 2026
Excavators Union Local 731 Pension Fund13-1809825GreenGreenNo16,202 14,310 6,697 NoApril 2022
Central Pension Fund of the IUOE & Participating Employers36-6052390GreenGreenNo11,237 8,467 11,638 NoVaries through May 2024
Pipeline Industry Pension Fund73-6146433GreenGreenNo5,081 3,654 9,376 NoVaries through June 2023
Laborers Pension Trust Fund for Northern California94-6277608GreenGreenNo4,479 2,328 2,823 NoVaries through May 2024
Operating Engineers’ Local 324 Pension Fund38-1900637RedRedYes2,789 2,629 4,315 NoVaries through June 2023
IBEW Local 1249 Pension Plan15-6035161GreenGreenNo2,667 530 771 NoVaries through May 2025
Local 697 IBEW and Electrical Industry Pension Fund51-6133048GreenGreenNo2,229 1,840 3,717 NoMay 2025
Pension Trust Fund for Operating Engineers94-6090764YellowYellowYes1,755 1,177 956 NoJune 2023
Eighth District Electrical Pension Fund84-6100393GreenGreenNo1,599 4,272 5,939 NoVaries through August 2024
Laborers District Council of W PA Pension Fund25-6135576YellowYellowYes1,375 77 1,194 NoVaries through May 2024
Teamsters National Pipe Line Pension Plan46-1102851GreenGreenNo1,276 1,380 3,039 NoVaries through June 2023
Operating Engineers Pension Trust95-6032478YellowYellowYes1,143 172 119 NoVaries through June 2023
Laborers National Pension Fund75-1280827RedRedYes1,049 638 1,910 NoVaries through May 2024
Plumbers and Pipefitters National Pension Fund52-6152779YellowYellowYes932 1,453 1,162 NoVaries through March 2023
Michigan Laborers’ Pension Plan38-6233976YellowYellowYes737 512 1,491 NoVaries through May 2024
Employer-Teamsters Local Nos 175 & 505 Pension Trust Fund55-6021850RedRedYes151 48 530 NoJune 2023
All other plans - U.S.37,306 30,829 27,655 
All other plans - Canada (1)
2,794 6,760 6,451 
Total contributions$132,996 $121,978 $134,197 
(1)    Multiemployer defined benefit pension plans in Canada are not subject to the reporting requirements under the PPA. Accordingly, certain information was not publicly available.
Quanta’s contributions to the following individually significant plans were five percent or more of the total contributions to these plans for the periods indicated based on the Forms 5500 for these plans for the years ended December 31, 2020 and 2019. Forms 5500 were not yet available for these plans for the year ended December 31, 2021.
Pension FundPlan Years in which Quanta Contributions Were Five Percent or More of Total Plan Contributions
Excavators Union Local 731 Pension Fund2020
National Electrical Benefit Fund2020 and 2019
Pipeline Industry Pension Fund2020 and 2019
Local 697 IBEW and Electrical Industry Pension Fund2020 and 2019
Eighth District Electrical Pension Fund2020 and 2019
Teamsters National Pipe Line Pension Plan2020 and 2019
IBEW Local 456 Pension Plan (1)
2020 and 2019
Local Union No. 9 IBEW and Outside Contractors Pension Fund (1)
2020 and 2019
West Virginia Laborers Pension Trust Fund (1)
2019
(1) This plan is included in the “All other plans - U.S.” category in the prior table.