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Note 9 - Pension Plans | 12 Months Ended
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May. 02, 2015
Notes to Financial Statements |
Pension and Other Postretirement Benefits Disclosure [Text Block] |
9. | PENSION PLANS
The Company contributes to certain pension plans under collective bargaining agreements and to a discretionary profit sharing plan. Total contributions (including contributions to multi-employer plans reflected below) were $2.7 million for Fiscal 2015, $2.7 million for Fiscal 2014 and $2.6 million for Fiscal 2013. The Company participates in various multi-employer defined benefit pension plans covering certain employees whose employment is covered under collective bargaining agreements. If the Company chooses to stop participating in the multi-employer plan or if other employers choose to withdraw to the extent that a mass withdrawal occurs, the Company could be required to pay the plan a withdrawal liability based on the underfunded status of the plan. Summarized below is certain information regarding the Company’s participation in significant multi-employer pension plans including the financial improvement plan or rehabilitation plan status (“FIP/RP Status”) and the zone status under the Pension Protection Act (“PPA”). The most recent PPA zone status available in Fiscal 2015 and Fiscal 2014 is for the plans’ years ending December 31, 2013 and 2012, respectively.
|  | PPA Zone Status |  |  |  |
|  | Fiscal |  | Fiscal |  |  |  | Surcharge
Pension Fund |  | 2015 |  | 2014 |  | FIP/RP Status |  | Imposed
Central States, Southeast and Southwest Areas Pension Plan (EIN no. 36-6044243) (the “CSSS Fund”) |  | Red |  | Red |  | Implemented |  | No
Western Conference of Teamsters Pension Trust Fund (EIN no. 91-6145047) (the “WCT Fund”) |  | Green |  | Green |  | Not applicable |  | No
For the plan years ended December 31, 2013 and December 31, 2012, the Company was not listed in the Form 5500 Annual Returns as providing more than 5% of the total contributions for the above plans. The collective bargaining agreements expire on October 18, 2016 for the CSSS Fund and May 14, 2016 for the WCT Fund. The Company’s contributions for all multi-employer pension plans for the last three fiscal years are as follow:
|  | (In thousands) |
|  | Fiscal |  |  | Fiscal |  |  | Fiscal |
Pension Fund |  | 2015 |  |  | 2014 |  |  | 2013 |
CSSS Fund |  | $ | 1,103 |  |  | $ | 1,079 |  |  | $ | 1,051 |
WCT Fund |  |  | 637 |  |  |  | 476 |  |  |  | 471 |
Other multi-employer pension funds |  |  | 306 |  |  |  | 295 |  |  |  | 262 |
Total |  | $ | 2,046 |  |  | $ | 1,850 |  |  | $ | 1,784 |
The trustees of one of the multi-employer pension plans that is not considered individually significant have notified a subsidiary of the Company that a mass withdrawal has occurred and have provided the subsidiary with a notice of withdrawal liability. The Company disputes various aspects of the withdrawal liability calculations and intends to challenge them in accordance with applicable Federal laws. The Company anticipates that the amount of its liability, if any, will not have a material effect on its financial position or results of operations.

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