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Employee Retirement Plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Employee Retirement Plans Employee Retirement Plans
The Company sponsors defined contribution plans and defined benefit plans that provide retirement income for eligible employees and retirees of the Company.
Total employee retirement plan expense, which includes related administrative expenses, is as follows:
Year Ended December 31,
202420232022
(in millions)
Defined contribution plans$16.8 $15.3 $12.5 
Multiemployer plans1.8 1.5 1.6 
$18.6 $16.8 $14.1 
Defined Contribution Plans
Established under Internal Revenue Code Section 401(k), the Arcosa, Inc. 401(k) Plan (“401(k) Plan”) is a defined contribution plan available to all eligible employees. Participants in the 401(k) Plan are eligible to receive future retirement benefits through elected contributions and a company-funded match with the investment of the funds directed by the participants.
The Company also sponsors a fully‑funded, non-qualified deferred compensation plan. The invested assets and related liabilities of these participants were approximately $7.0 million at December 31, 2024 and $5.4 million at December 31, 2023, which are included in other assets and other liabilities on the Consolidated Balance Sheets. Distributions from the Company’s non-qualified deferred compensation plan to participants were approximately $1.6 million for the year ended December 31, 2024 and $1.5 million for the year ended December 31, 2023.
Multiemployer Plans
The Company contributes to various multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover certain union-represented employees at one of the facilities in our Engineered Structures segment and four of the facilities in our Construction Products segment acquired in the Stavola acquistion. The risks of participating in a multiemployer plan are different from a single-employer plan in the following aspects:
•Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.
•If a participating employer stops contributing to a multiemployer plan, the unfunded obligations of the plan may be borne by the remaining participating employers.
•If the Company chooses to stop participating in the multiemployer plan, the Company may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability.
Our participation in multiemployer plans for the year ended December 31, 2024 are outlined in the table below. The Pension Protection Act (“PPA”) zone status is based upon the most recent information available at December 31, 2024 and 2023 and is obtained from the multiemployer plan's regulatory filings available in the public domain and certified by the plan's actuary. Among other factors, plans in the green zone are at least 80% funded, plans in the yellow zone are less than 80% funded, and plans in the red zone are less than 65% funded. Federal law requires that plans classified in the yellow or red zones adopt a funding improvement plan or a rehabilitation plan in order to improve the financial health of the plan. The Company's contributions to the multiemployer plans were less than 5% of total contributions to any plan. The last column in the table lists the expiration date of the last expiring collective bargaining agreement to which the plan is subject.
PPA Zone StatusContributions for Year Ended December 31,
Pension FundEmployer Identification Number20242023Rehabilitation plan status202420232022Surcharge imposedExpiration date of collective bargaining agreement
(in millions)
Boilermaker-Blacksmith National Pension Trust48-6168020RedGreenImplemented$1.7 $1.5 $1.6 No06/30/2025
Heavy and General Laborers Local Unions 472 and 172 of New Jersey Pension Fund22-6032103GreenGreenNA$0.2 $— $— No02/28/2027
Operating Engineers 825 Pension Fund22-6033380GreenGreenNA$0.1 $— $— No06/30/2026
Employer contributions to the multiemployer plans for the year ending December 31, 2025 are expected to be $2.9 million.
ACG Pension Plan
In connection with the acquisition of ACG in December 2018, the Company assumed the assets and liabilities related to a defined benefit pension plan. As of December 31, 2024, the plan assets totaled $4.5 million and the projected benefit obligation totaled $3.2 million, for a net over funded status of $1.3 million, which is included in other assets on the Consolidated Balance Sheet. The net pension expense for the year ended December 31, 2024 was not significant. Employer contributions for the ACG pension plan for the year ending December 31, 2025 are not expected to be significant.