401(k) Profit Sharing, Deferred Compensation and Long-term Incentive Plans

12 Months Ended

Dec. 31, 2018

401(k) Profit Sharing, Deferred Compensation and Long-Term Incentive Plans

We have a defined contribution 401(k) plan and trust covering substantially all full-time employees. The annual contribution to the plan is at the discretion of our Board of Directors. Contributions of $5.7 million, $5.8 million, and $5.4 million were recognized for the years ended December 31, 2018, 2017 and 2016, respectively. Employees may contribute to the plan if they meet certain eligibility requirements.

We offer a deferred compensation and long-term incentive plan (the “LTIP”) to provide certain employees the ability to accumulate assets for retirement on a tax deferred basis. We may, depending on position, also make discretionary contributions to the LTIP. These discretionary contributions vest between one and seven years based on the employee’s age. Additionally, a participant may defer a portion of his or her compensation and receive the deferred amount upon certain events, including termination or retirement.

The following is a summary related to our LTIP (in millions):



Year Ended December 31,	2018			2017			2016
Compensation expense	$	1.3		$	1.1		$	1.1
Total discretionary contribution	$	0.8		$	1.7		$	1.8
Guaranteed annual return	5.00		%	5.00		%	5.25		%

As of December 31, 2018 and 2017, the balance due to participants was $32.9 million and $27.9 million, respectively, and was included as a component of other long-term liabilities in the Consolidated Balance Sheets.