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BENEFIT PLANS | 12 Months Ended
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Jul. 31, 2021
Retirement Benefits [Abstract] |
BENEFIT PLANS | NOTE 13—BENEFIT PLANS The Company’s employees who participate are covered by various contributory and non-contributory pension, 401(k) plans, and other health and welfare benefits. The Company’s primary defined benefit pension plans are the SUPERVALU INC. Retirement Plan, Unified Grocers, Inc. Cash Balance Plan and certain supplemental executive retirement plans. These plans were closed to new participants and service crediting ended for all participants as of December 31, 2007. Pay increases were reflected in the amount of benefits accrued in these plans until December 31, 2012. Approximately 62% of the union employees participate in multiemployer defined benefit pension plans under collective bargaining agreements. The remaining either participate in plans sponsored by the Company or are not currently eligible to participate in a retirement plan. In addition to sponsoring both defined benefit and defined contribution pension plans, the Company provides healthcare and life insurance benefits for eligible retired employees under postretirement benefit plans. The Company also provides certain health and welfare benefits, including short-term and long-term disability benefits, to inactive disabled employees prior to retirement. The terms of the postretirement benefit plans vary based on employment history, age and date of retirement. For many retirees, the Company provides a fixed dollar contribution and retirees pay contributions to fund the remaining cost. Defined Benefit Pension and Other Postretirement Benefit Plans For the defined benefit pension plans, the accumulated benefit obligation is equal to the projected benefit obligation. The benefit obligation, fair value of plan assets and funded status of our defined benefit pension plans and other postretirement benefit plans consisted of the following:
|  | 2021 |  | 2020
(in millions) |  | Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits
Changes in Benefit Obligation |  |  |  |  |  |  |  |
Benefit Obligation at beginning of year |  | $ | 2,260 |  |  | $ | 37 |  |  | $ | 2,709 |  |  | $ | 38 |
Actuarial (gain) loss |  | (103) |  |  | (9) |  |  | 277 |  |  | 1 |
Benefits paid |  | (101) |  |  | (3) |  |  | (94) |  |  | (3) |
Interest cost |  | 37 |  |  | — |  |  | 57 |  |  | 1 |
Settlements paid |  | — |  |  | (18) |  |  | (689) |  |  | — |
Plan amendment |  | — |  |  | 11 |  |  | — |  |  | — |
Benefit obligation at end of year |  | 2,093 |  |  | 18 |  |  | 2,260 |  |  | 37 |
Changes in Plan Assets |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | 1,991 |  |  | 12 |  |  | 2,497 |  |  | 11 |
Actual return on plan assets |  | 226 |  |  | — |  |  | 262 |  |  | 1 |
Benefits paid |  | (101) |  |  | (3) |  |  | (94) |  |  | (3) |
Settlements paid |  | — |  |  | (18) |  |  | (690) |  |  | — |
Employer contributions |  | 2 |  |  | 9 |  |  | 16 |  |  | 3 |
Fair value of plan assets at end of year |  | 2,118 |  |  | — |  |  | 1,991 |  |  | 12 |
Funded (unfunded) status at end of year |  | $ | 25 |  |  | $ | (18) |  |  | $ | (269) |  |  | $ | (25) |
The actuarial gain on projected pension benefit obligations in fiscal 2021 was primarily the result of a 35 basis points increase in the discount rate on the SUPERVALU INC. Retirement Plan and updated mortality assumptions. The actuarial loss on projected pension benefit obligations in fiscal 2020 was primarily the result of a 113 basis points decrease in the discount rate on the SUPERVALU INC. Retirement Plan, and updated assumptions from lump sum settlements and mortality. The funded status of our pension benefits contains plans with individually funded and underfunded statuses. Our other postretirement benefits consist of one plan as shown above. The following table provides the funded status of individual projected pension benefit plan obligations and the fair value of plan assets for these plans:
(in millions) |  | SUPERVALU INC. Retirement Plan |  | Unified Grocers, Inc. Cash Balance Plan and Other |  | Total Pension Benefits
July 31, 2021: |  |  |  |  |  |
Fair value of plan assets at end of year |  | $ | 1,860 |  |  | $ | 258 |  |  | $ | 2,118 |
Benefit obligation at end of year |  | (1,796) |  |  | (297) |  |  | (2,093) |
Funded (unfunded) status at end of year |  | $ | 64 |  |  | $ | (39) |  |  | $ | 25 |
August 1, 2020: |  |  |  |  |  |
Fair value of plan assets at end of year |  | $ | 1,761 |  |  | $ | 230 |  |  | $ | 1,991 |
Benefit obligation at end of year |  | (1,939) |  |  | (321) |  |  | (2,260) |
Unfunded status at end of year |  | $ | (178) |  |  | $ | (91) |  |  | $ | (269) |
Net periodic benefit (income) cost and other changes in plan assets and benefit obligations recognized consist of the following:
|  | 2021 |  | 2020 |  | 2019
(in millions) |  | Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits
Net Periodic Benefit (Income) Cost |  |  |  |  |  |  |  |  |  |  |  |
Expected return on plan assets |  | $ | (104) |  |  | $ | — |  |  | $ | (105) |  |  | $ | — |  |  | $ | (112) |  |  | $ | — |
Interest cost |  | 37 |  |  | — |  |  | 57 |  |  | 1 |  |  | 76 |  |  | 1 |
Settlement (gain) charge |  | — |  |  | (17) |  |  | 11 |  |  | — |  |  | — |  |  | — |
Amortization of prior service credit |  | — |  |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | — |
Amortization of net actuarial loss (gain) |  | 1 |  |  | (1) |  |  | — |  |  | (2) |  |  | — |  |  | — |
Net periodic benefit (income) cost |  | (66) |  |  | (19) |  |  | (37) |  |  | (2) |  |  | (36) |  |  | 1 |
Other Changes in Plan Assets and Benefits Obligations Recognized in Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial (gain) loss |  | (225) |  |  | (8) |  |  | 109 |  |  | — |  |  | 58 |  |  | (10) |
Prior service cost (benefit) |  | — |  |  | 25 |  |  | — |  |  | — |  |  | — |  |  | (4) |
Amortization of prior service benefit |  | — |  |  | 3 |  |  | — |  |  | 1 |  |  | — |  |  | — |
Amortization of net actuarial (gain) loss |  | (1) |  |  | 1 |  |  | — |  |  | 2 |  |  | — |  |  | — |
Total (benefit) expense recognized in Other comprehensive income (loss) |  | (226) |  |  | 21 |  |  | 109 |  |  | 3 |  |  | 58 |  |  | (14) |
Total (benefit) expense recognized in net periodic benefit cost (income) and Other comprehensive income (loss) |  | $ | (292) |  |  | $ | 2 |  |  | $ | 72 |  |  | $ | 1 |  |  | $ | 22 |  |  | $ | (13) |
On August 1, 2019, the Company amended the SUPERVALU INC. Retirement Plan to provide for a lump sum settlement window. On August 2, 2019, the Company sent plan participants lump sum settlement election offerings that committed the plan to pay certain deferred vested pension plan participants and retirees, who make such an election, a lump sum payment in exchange for their rights to receive ongoing payments from the plan. The lump sum payment amounts are equal to the present value of the participant’s pension benefits, and were made to certain former (i) retired associates and beneficiaries who are receiving their monthly pension benefit payment and (ii) terminated associates who are deferred vested in the plan, had not yet begun receiving monthly pension benefit payments and who are not eligible for any prior lump sum offerings under the plan. Benefit obligations associated with the lump sum offering have been incorporated into the funded status utilizing the actuarially determined lump sum payments based on offer acceptances. As disclosed in the preceding two tables, in fiscal 2020, the plan made aggregate lump sum settlement payments, which resulted in a non-cash pension settlement charges from the acceleration of a portion of the accumulated unrecognized actuarial loss, which was based on the fair value of SUPERVALU INC. Retirement Plan assets and remeasured liabilities. As a result of the settlement payments reported in the second quarter of fiscal 2020, SUPERVALU INC. Retirement Plan obligations were remeasured using a discount rate of 3.1 percent and the MP-2019 mortality improvement scale. This remeasurement resulted in a $2 million decrease to Accumulated other comprehensive loss. Amounts recognized in the Consolidated Balance Sheets as of July 31, 2021 and August 1, 2020 consist of the following:
|  | July 31, 2021 |  | August 1, 2020
(in millions) |  | Pension Benefits |  | Other Postretirement Benefits |  | Pension Benefits |  | Other Postretirement Benefits
Other long-term assets |  | $ | 64 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Pension and other postretirement benefit obligations |  | (38) |  |  | (15) |  |  | (267) |  |  | (25) |
Accrued compensation and benefits |  | (1) |  |  | (3) |  |  | (2) |  |  | — |
Total |  | $ | 25 |  |  | $ | (18) |  |  | $ | (269) |  |  | $ | (25) |
Benefit Plan Assumptions Weighted average assumptions used to determine benefit obligations and net periodic benefit cost consisted of the following:
|  | 2021 |  | 2020 |  | 2019
Benefit obligation assumptions: |  |  |  |  |  |
Discount rate |  | 2.62% - 2.75% |  | 1.74% - 2.37% |  | 2.99% - 3.49%
Net periodic benefit cost assumptions: |  |  |  |  |  |
Discount rate |  | 1.17% - 2.27% |  | 2.99% - 3.49% |  | 4.30% - 4.42%
Rate of compensation increase |  | — |  |  | — |  |  | — |
Expected return on plan assets(1) |  | 1.00% - 5.50% |  | 2.00% - 5.75% |  | 2.25% - 6.50%
Interest credit |  | 5.00 | % |  | 5.00 | % |  | 5.00 | %
(1) Expected return on plan assets is estimated by utilizing forward-looking, long-term return, risk and correlation assumptions developed and updated annually by the Company. These assumptions are weighted by the actual or target allocation to each underlying asset class represented in the pension plan master trust. The Company also assess the expected long-term return on plan assets assumption by comparison to long-term historical performance on an asset class to ensure the assumption is reasonable. Long-term trends are also evaluated relative to market factors such as inflation, interest rates, and fiscal and monetary policies in order to assess the capital market assumptions. The Company reviews and selects the discount rate to be used in connection with measuring our pension and other postretirement benefit obligations annually. In determining the discount rate, the Company uses the yield on corporate bonds (rated AA or better) that coincides with the cash flows of the plans’ estimated benefit payouts. The model uses a yield curve approach to discount each cash flow of the liability stream at an interest rate specifically applicable to the timing of each respective cash flow. The model totals the present values of all cash flows and calculates the equivalent weighted average discount rate by imputing the singular interest rate that equates the total present value with the stream of future cash flows. This resulting weighted average discount rate is then used in evaluating the final discount rate to be used. For those retirees whose health plans provide for variable employer contributions, the assumed healthcare cost trend rate used in measuring the accumulated postretirement benefit obligation before age 65 was 8.10 percent as of July 31, 2021. The assumed healthcare cost trend rate for retirees before age 65 will decrease each year through fiscal 2030, until it reaches the ultimate trend rate of 4.50 percent. For those retirees whose health plans provide for variable employer contributions, the assumed healthcare cost trend rate used in measuring the accumulated postretirement benefit obligation after age 65 was 5.40 percent as of July 31, 2021. Pension Plan Assets Pension plan assets are held in a master trust and invested in separately managed accounts and other commingled investment vehicles holding fixed income securities, domestic equity securities, private equity securities, international equity securities, and real estate securities. The Company employs a liability hedging approach whereby the target asset allocation adjusts based on the funded nature of the plans, targeting a level of risk commensurate with keeping pace with the growth of plan liabilities. Risk is managed through diversification across asset classes, multiple investment manager portfolios and both general and portfolio-specific investment guidelines. Risk tolerance is established through careful consideration of the plan liabilities, plan funded status and the Company’s financial condition. This asset allocation policy mix is reviewed annually and actual versus target allocations are monitored regularly and rebalanced on an as-needed basis. Plan assets are invested using a combination of active and passive investment strategies. Passive, or “indexed” strategies, attempt to mimic rather than exceed the investment performance of a market benchmark. The plan’s active investment strategies employ multiple investment management firms. Managers within each asset class cover a range of investment styles and approaches and are combined in a way that controls for capitalization, and style biases (equities) and interest rate exposures (fixed income) versus benchmark indices. Monitoring activities to evaluate performance against targets and measure investment risk take place on an ongoing basis through annual liability measurements, periodic asset/liability studies and quarterly investment portfolio reviews. The asset allocation targets and the actual allocation of pension plan assets are as follows:
Asset Category |  | Target |  | 2021 |  | 2020
Fixed income |  | 85.3 | % |  | 82.8 | % |  | 60.4 | %
Domestic equity |  | 6.9 | % |  | 7.7 | % |  | 22.6 | %
Private equity |  | 5.4 | % |  | 5.4 | % |  | 4.7 | %
International equity |  | 1.4 | % |  | 1.0 | % |  | 6.0 | %
Real estate |  | 1.0 | % |  | 3.1 | % |  | 6.3 | %
Total |  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
The following is a description of the valuation methodologies used for investments measured at fair value: Common stock - Valued at the closing price reported in the active market in which the individual securities are traded. Common collective trusts - Investments in common/collective trust funds are stated at net asset value (“NAV”) as determined by the issuer of the common/collective trust funds and is based on the fair value of the underlying investments held by the fund less its liabilities. The majority of the common/collective trust funds have a readily determinable fair value and are classified as Level 2. Other investments in common/collective trust funds determine NAV on a less frequent basis and/or have redemption restrictions. For these investments, NAV is used as a practical expedient to estimate fair value. Corporate bonds - Valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the fair value is based upon an industry valuation model, which maximizes observable inputs. Government securities - Certain government securities are valued at the closing price reported in the active market in which the security is traded. Other government securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. Mortgage backed securities - Valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar securities, the fair value is based upon an industry valuation model, which maximizes observable inputs. Mutual funds - Mutual funds are valued at the closing price reported in the active market in which the individual securities are traded. Private equity and real estate partnerships - Valued based on NAV provided by the investment manager, updated for any subsequent partnership interests’ cash flows or expected changes in fair value. The NAV is used as a practical expedient to estimate fair value. Other - Consists primarily of options, futures, and money market investments priced at $1 per unit. The valuation methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes our valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement. The fair value of assets held in master trusts for defined benefit pension plans as of July 31, 2021, by asset category, consisted of the following (in millions):
|  | Level 1 |  | Level 2 |  | Level 3 |  | Measured at NAV as a Practical Expedient |  | Total
Common stock |  | $ | 103 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 103 |
Common collective trusts |  | — |  |  | 1,044 |  |  | — |  |  | 61 |  |  | 1,105 |
Corporate bonds |  | — |  |  | 432 |  |  | — |  |  | — |  |  | 432 |
Government securities |  | — |  |  | 218 |  |  | — |  |  | — |  |  | 218 |
Mutual funds |  | — |  |  | 58 |  |  | — |  |  | — |  |  | 58 |
Mortgage-backed securities |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Other |  | 11 |  |  | 10 |  |  | — |  |  | — |  |  | 21 |
Private equity and real estate partnerships |  | — |  |  | — |  |  | — |  |  | 179 |  |  | 179 |
Total plan assets at fair value |  | $ | 114 |  |  | $ | 1,764 |  |  | $ | — |  |  | $ | 240 |  |  | $ | 2,118 |
The fair value of assets held in master trusts for defined benefit pension plans as of August 1, 2020, by asset category, consisted of the following (in millions):
|  | Level 1 |  | Level 2 |  | Level 3 |  | Measured at NAV as a Practical Expedient |  | Total
Common stock |  | $ | 334 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 334 |
Common collective trusts |  | — |  |  | 902 |  |  | — |  |  | 59 |  |  | 961 |
Corporate bonds |  | — |  |  | 311 |  |  | — |  |  | — |  |  | 311 |
Government securities |  | — |  |  | 131 |  |  | — |  |  | — |  |  | 131 |
Mutual funds |  | — |  |  | 43 |  |  | — |  |  | — |  |  | 43 |
Mortgage-backed securities |  | — |  |  | 4 |  |  | — |  |  | — |  |  | 4 |
Other |  | 11 |  |  | 23 |  |  | — |  |  | — |  |  | 34 |
Private equity and real estate partnerships |  | — |  |  | — |  |  | — |  |  | 173 |  |  | 173 |
Total plan assets at fair value |  | $ | 345 |  |  | $ | 1,414 |  |  | $ | — |  |  | $ | 232 |  |  | $ | 1,991 |
Contributions No minimum pension contributions were required to be made under either the SUPERVALU INC. Retirement Plan or the Unified Grocers, Inc. Cash Balance Plan under the Employee Retirement Income Security Act of 1974, as amended, (“ERISA”) in fiscal 2021. The Company expects to contribute approximately $2 million to $3 million to its other defined benefit pension plans and postretirement benefit plans in fiscal 2022. The Company funds its defined benefit pension plans based on the minimum contribution required under the Code, ERISA the Pension Protection Act of 2006 and other applicable laws, as determined by our external actuarial consultant, and additional contributions made at its discretion. The Company may accelerate contributions or undertake contributions in excess of the minimum requirements from time to time subject to the availability of cash in excess of operating and financing needs or other factors as may be applicable. The Company assesses the relative attractiveness of the use of cash including such factors as expected return on assets, discount rates, cost of debt, reducing or eliminating required Pension Benefit Guaranty Corporation variable rate premiums or the ability to achieve exemption from participant notices of underfunding. Estimated Future Benefit Payments The estimated future benefit payments to be made from our defined benefit pension and other postretirement benefit plans, which reflect expected future service, are as follows (in millions):
Fiscal Year |  | Pension Benefits |  | Other Postretirement Benefits
2022 |  | $ | 122 |  |  | $ | 3 |
2023 |  | 114 |  |  | 1 |
2024 |  | 118 |  |  | 1 |
2025 |  | 122 |  |  | 1 |
2026 |  | 120 |  |  | 1 |
Years 2027-2031 |  | 582 |  |  | 4 |
Defined Contribution Plans The Company sponsors defined contribution and profit sharing plans pursuant to Section 401(k) of the Internal Revenue Code. Employees may contribute a portion of their eligible compensation to the plans on a pre-tax basis. We match a portion of certain employee contributions by contributing cash into the investment options selected by the employees. The total amount contributed by us to the plans is determined by plan provisions or at the Company’s discretion. Total employer contribution expenses for these plans were $27 million, $21 million and $21 million for fiscal 2021, 2020 and 2019, respectively. Post-Employment Benefits The Company recognizes an obligation for benefits provided to former or inactive employees. The Company is self-insured for certain disability plan programs, which comprise the primary benefits paid to inactive employees prior to retirement. Amounts recognized in the Consolidated Balance Sheets consisted of $2 million of Accrued compensation and benefits and $5 million of Other long-term liabilities as of July 31, 2021 and August 1, 2020. Multiemployer Pension Plans The Company contributes to various multiemployer pension plans under collective bargaining agreements, primarily defined benefit pension plans. These multiemployer plans generally provide retirement benefits to participants based on their service to contributing employers. The benefits are paid from assets held in trust for that purpose. Plan trustees typically are responsible for determining the level of benefits to be provided to participants as well as the investment of the assets and plan administration. Trustees are appointed in equal number by employers and the unions that are parties to the relevant collective bargaining agreements. Expense is recognized in connection with these plans as contributions are funded, in accordance with GAAP. The risks of participating in these multiemployer plans are different from the risks associated with single-employer plans in the following respects: a. Assets contributed to the multiemployer plan by one employer are held in trust and may be used to provide benefits to employees of other participating employers. b. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. c. If we choose to stop participating in some multiemployer plans, or make market exits or closures or otherwise have participation in the plan drop below certain levels, we may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. The Company’s participation in these plans is outlined in the table below. The EIN-Pension Plan Number column provides the Employer Identification Number (“EIN”) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (“PPA”) zone status available in 2020 relates to the plans’ most recent fiscal year-end. The zone status is based on information that we received from the plan and is annually certified by each plan’s actuary. Among other factors, red zone status plans are generally less than 65 percent funded and are considered in critical status, plans in yellow zone status are less than 80 percent funded and are considered in endangered or seriously endangered status, and green zone plans are at least 80 percent funded. The Multiemployer Pension Reform Act of 2014 (“MPRA”) created a new zone status called “critical and declining” or “Deep Red”. Plans are generally considered Deep Red if they are projected to become insolvent within 15 years. The FIP/RP Status Pending/Implemented column indicates plans for which a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented by the trustees of each plan. Certain plans have been aggregated in the All Other Multiemployer Pension Plans line in the following table, as the contributions to each of these plans are not individually material. None of our collective bargaining agreements require that a minimum contribution be made to these plans. At the date the financial statements were issued, Form 5500 for these plans were generally not available for the plan years ending in 2020. The following table contains information about the Company’s significant multiemployer plans (in millions):
|  |  |  |  | Pension Protection Act Zone Status |  |  |  | Contributions |  |
Pension Fund | EIN-Pension Plan Number |  | Plan Month/Day End Date |  | 2020 |  | FIP/RP Status Pending/Implemented |  | 2021 |  | 2020 |  | 2019 |  | Surcharges Imposed(1)
Minneapolis Food Distributing Industry Pension Plan | 416047047-001 |  | 12/31 |  | Green |  | No |  | $ | 12 |  |  | $ | 11 |  |  | $ | 8 |  |  | No
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund | 410905139-001 |  | 2/28 |  | Red |  | Implemented |  | 10 |  |  | 9 |  |  | 7 |  |  | No
Minneapolis Retail Meat Cutters and Food Handlers Variable Annuity Pension Plan | 832598425-001 |  | 12/31 |  | NA |  | NA |  | 4 |  |  | 3 |  |  | 1 |  |  | NA
Central States, Southeast and Southwest Areas Pension Plan | 366044243-001 |  | 12/31 |  | Deep Red |  | Implemented |  | 6 |  |  | 6 |  |  | 5 |  |  | No
UFCW Unions and Participating Employer Pension Plan(2) | 526117495-001 |  | 12/31 |  | Red |  | Implemented |  | 3 |  |  | 7 |  |  | 4 |  |  | No
Western Conference of Teamsters Pension Plan | 916145047-001 |  | 12/31 |  | Green |  | No |  | 10 |  |  | 13 |  |  | 12 |  |  | No
UFCW Unions and Employers Pension Plan(4) | 396069053-001 |  | 10/31 |  | Deep Red |  | Implemented |  | 1 |  |  | 1 |  |  | 1 |  |  | No
All Other Multiemployer Pension Plans(3) |  |  |  |  |  |  |  |  | 2 |  |  | 2 |  |  | 3 |  |  |
Total |  |  |  |  |  |  |  |  | $ | 48 |  |  | $ | 52 |  |  | $ | 41 |  |  |
(1) PPA surcharges are 5 percent or 10 percent of eligible contributions and may not apply to all collective bargaining agreements or total contributions to each plan. (2) This multiemployer pension plan is associated with continued and discontinued operations. (3) All Other Multiemployer Pension Plans includes 9 plans, none of which are individually significant when considering contributions to the plan, severity of the underfunded status or other factors. As of the fourth quarter of fiscal 2021, the Company withdrew from 2 of these 9 plans. Fiscal 2021 contributions to these plans are included in the total contributions above. (4) As of the fourth quarter of fiscal 2021, the Company withdrew from this plan. The plan is still relevant for the table above as contributions were made in fiscal 2021 prior to the withdrawal. The following table describes the expiration of the Company’s collective bargaining agreements associated with the significant multiemployer plans in which we participate:
|  |  |  |  | Most Significant Collective Bargaining Agreement |  |
Pension Fund | Range of Collective Bargaining Agreement Expiration Dates |  | Total Collective Bargaining Agreements |  | Expiration Date |  | % of Associates under Collective Bargaining Agreement (1) |  | Over 5% Contributions 2020
Minneapolis Food Distributing Industry Pension Plan | 5/31/2022 |  | 1 |  |  | 5/31/2022 |  | 100.0 | % |  | ☒
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund | 3/4/2023 |  | 1 |  |  | 3/4/2023 |  | 100.0 | % |  | ☒
Minneapolis Retail Meat Cutters and Food Handlers Variable Annuity Pension Fund | 3/4/2023 |  | 1 |  |  | 3/4/2023 |  | 100.0 | % |  | ☒
Central States, Southeast and Southwest Areas Pension Fund | 6/03/2024 - 5/31/2025 |  | 4 |  |  | 5/31/2025 |  | 37.0 | % |  | ☐
UFCW Unions and Participating Employer Pension Fund(2) | 11/8/2020(3) |  | 2 |  |  | 11/8/2020 |  | 66.3 | % |  | ☒
Western Conference of Teamsters Pension Plan Trust | 4/22/2023 - 9/20/2026 |  | 13 |  |  | 9/20/2026 |  | 32.8 | % |  | ☐
UFCW Unions and Employers Pension Plan | 4/9/2022 |  | 1 |  |  | 4/9/2022 |  | 100.0 | % |  | ☒
(1) Company participating employees in the most significant collective bargaining agreement as a percent of all Company employees represented under the applicable collective bargaining agreements. (2) This multiemployer pension plan is associated with continued and discontinued operations. (3) This collective bargaining agreement has been extended. In fiscal 2021, the Company withdrew from participating in three Retail multiemployer pension plans, resulting in a $63 million withdrawal charge, which is recorded within Operating expenses within our Consolidated Statements of Operations, Other long-term liabilities on the Consolidated Balance Sheets and within changes in operating assets and liabilities within Accrued expenses and other liabilities in the Consolidated Statements of Cash Flows. In fiscal 2020, in connection with the Company’s consolidation of distribution centers in the Pacific Northwest, the Company recorded an $11 million multiemployer pension plan withdrawal liability. Accrued multiemployer pension plan withdrawal liabilities included in Other-long-term liabilities were $110 million and $52 million, in fiscal 2021 and 2020, respectively, for 13 multiemployer plans. Payments associated with these liabilities are required to be made over varying time periods, but principally over the next 20 years. Multiemployer Benefit Plans Other than Pensions The Company also makes contributions to multiemployer health and welfare plans in amounts set forth in the related collective bargaining agreements. These plans provide medical, dental, pharmacy, vision and other ancillary benefits to active employees and retirees as determined by the trustees of each plan. The vast majority of the Company’s contributions benefit active employees and as such, may not constitute contributions to a postretirement benefit plan. However, the Company is unable to separate contribution amounts to postretirement benefit plans from contribution amounts paid to benefit active employees. The Company contributed $78 million, $89 million and $73 million in fiscal 2021, fiscal 2020 and fiscal 2019, respectively, to multiemployer health and welfare plans. If healthcare provisions within these plans cannot be renegotiated in a manner that reduces the prospective healthcare cost as we intend, our Operating expenses could increase in the future. Collective Bargaining Agreements As of July 31, 2021, we had approximately 28,300 employees. Approximately 11,000 employees are covered by 48 collective bargaining agreements. During fiscal 2021, 20 collective bargaining agreements covering approximately 1,700 employees were renegotiated and 4 collective bargaining agreements covering approximately 1,500 employees expired without their terms being renegotiated. Negotiations are expected to continue with the bargaining units representing the employees subject to those agreements. During fiscal 2022, 10 collective bargaining agreements covering approximately 3,300 employees are scheduled to expire.

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