

17.	RETIREMENT BENEFITS

Defined Contribution Plans

The Company maintains a defined contribution profit-sharing plan (401(k) plan) 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 401(k) plan provides for a discretionary employer contribution and is determined annually by the Company’s board of directors. With the acquisition of Plateau, the Company made matching contributions for the year ended December 31, 2019 of $2,800, and $2,700 and $2,300 for the years ended December 31, 2018 and 2017, respectively.

Multi-Employer Pension Plans

As of December 31, 2019, the Company had approximately 2,800 employees, including 2,400 field personnel. We had 400 employees, or 17% of total employees, that were union members 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:



	Pension Plan Employer	Pension Protection Act (“PPA”) Certified Zone Status ⁽¹⁾		FIP / RP Status Pending/Implemented ⁽²⁾	Contributions						Surcharge Imposed	Expiration Date of Collective Bargaining Agreement ⁽³⁾
Pension Trust Fund	Identification Number	2019	2018	FIP / RP Status Pending/Implemented ⁽²⁾	2019		2018		2017		Surcharge Imposed	Expiration Date of Collective Bargaining Agreement ⁽³⁾
Pension Trust Fund for Operating Engineers Pension Plan	94-6090764	Yellow	Red	Yes	$	2,314	$	1,932	$	2,477	No	Various
Laborers Pension Trust for Northern California	94-6277608	Green	Yellow	Yes	857		880		953		No	Various
Carpenter Funds Administrative Office	94-6050970	Red	Red	Yes	547		748		727		No	Various
Cement Mason Pension Trust Fund For Northern California	94-6277669	Yellow	Yellow	Yes	320		504		423		No	Various
All other funds ⁽⁴⁾					7,144		7,283		8,006
			Total Contributions:		$	11,182	$	11,347	$	12,586

⁽¹⁾

The most recent PPA zone status available in 2019 and 2018 is for the plan’s year-end during 2018 and 2017, 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 $829, $1,300 and $1,500 for 2019, 2018 and 2017, 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.