XML 35 R22.htm IDEA: XBRL DOCUMENT v3.7.0.1
Note 15 - Employee Benefit Plans
12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Pension and Other Postretirement Benefits Disclosure [Text Block]
15.
Employee Benefit Plans
 
The Company maintains
two
defined contribution profit-sharing plans
(401(k)
plans) covering substantially all non-union persons employed by the Company, whereby employees
may
contribute a percentage of compensation, limited to maximum allowed amounts under the Internal Revenue Code. The Plans provide for discretionary employer contributions, the level of which, if any,
may
vary by subsidiary and is determined annually by each company’s board of directors. The Company made aggregate matching contributions of
$1.8
million,
$1.8
million and
$1.3
million for the years ended
December
31,
2016,
2015
and
2014,
respectively.
 
As of
December
31,
2016,
the Company had approximately
1,684
employees, including
1,364
field personnel. Of our
1,364
field employees,
366,
or
22%
of total employees, were union members primarily in Nevada, Arizona, California and Hawaii and covered by collective bargaining agreements.
 
The Company contributes to a number of multi-employer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects:
 
·
Assets contributed to the multi-employer 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.
 
·
If the Company chooses to stop participating in some of its multi-employer 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 following table presents our participation in these plans (amounts in thousands):
 
 
 
Pension Plan
Employer
 
Pension Protection
Act (“PPA”)
Certified Zone
Status
1
 
FIP / RP
Status
  Contributions   Surcharge
Imposed
 
Expiration
Date of
Collective
Bargaining
Agreement
3
Pension Trust
Fund
  Identification
Number
  2016   2015   Pending /
Implemented
2
  2016   2015   2014        
Pension Trust Fund for Operating Engineers Pension Plan  
94-6090764
 
Red
 
Red
 
Yes
  $
2,145
    $
2,151
    $
1,757
   
No
 
Various
Laborers Pension Trust for Northern California  
94-6277608
 
Yellow
 
Yellow
 
Yes
   
1,059
     
966
     
1,447
   
No
 
Various
Carpenter Funds Administrative Office  
94-6050970
 
Red
 
Red
 
Yes
   
636
     
842
     
1,015
   
No
 
Various
Cement Mason Pension Trust Fund For Northern California  
94-6277669
 
Yellow
 
Yellow
 
Yes
   
311
     
371
     
322
   
No
 
Various
All other funds
4
 
 
 
 
 
 
 
 
   
8,487
     
10,204
     
6,267
   
 
 
 
   
 
 
 
 
 
 
Total Contributions:
  $
12,638
    $
14,534
    $
10,808
   
 
 
 
 
1
The most recent PPA zone status available in
2016
and
2015
is for the plan’s year-end during
2015
and
2014,
respectively. The zone status is based on information that we 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 orange zone are less than
80
percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next
six
years, plans in the yellow zone are less than
80
percent funded and plans in the green zone are at least
80
percent funded.
2
Indicates whether the plan has a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) which is either pending or has been implemented.
3
Lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject.
4
These funds include multi-employer plans for pensions and other employee benefits. The total individually insignificant multi-employer pension costs contributed were
$1.2
million,
$1.5
million and
$0.9
million for
2016,
2015
and
2014,
respectively, and are included in the contributions to all other funds along with contributions to other types of benefit plans. Other employee benefits include certain coverage for medical, prescription drug, dental, vision, life and accidental death and dismemberment, disability and other benefit costs.
 
We currently have no intention of withdrawing from any of the multi-employer pension plans in which we participate.