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Employee Retirement Plans | 12 Months Ended
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Jan. 03, 2026
Retirement Benefits [Abstract] |
Employee Retirement Plans | Employee Retirement Plans Multi-Employer Pension Plans The Company is involved in various multi-employer pension plans (“MEPPs”) that provide retirement and certain disability benefits to certain union employees in accordance with certain collective bargaining agreements (“CBAs”). As one of many participating employers in these MEPPs, the Company is generally responsible with the other participating employers for any plan underfunding. The Company’s contributions to a particular MEPP are established by the applicable CBAs, however required contributions may increase based on the funded status of an MEPP and legal requirements such as those of the Pension Act, which requires substantially underfunded MEPPs to implement a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) to improve their funded status. Factors that could impact funded status of an MEPP include, without limitation, investment performance, changes in the participant demographics, decline in the number of contributing employers, changes in actuarial assumptions, and the utilization of extended amortization provisions. A FIP or RP requires a particular MEPP to adopt measures to correct its underfunded status. These measures may include, but are not limited to, an increase in the Company’s contribution rate to the applicable CBA, a reallocation of the contributions already being made by participating employers for various benefits to individuals participating in the MEPP, and/or a reduction in the benefits to be paid to future and/or current retirees. The Company could also be obligated to make future payments to MEPPs if it either ceases to have an obligation to contribute to the MEPP or significantly reduces its contributions to the MEPP because the Company reduced its number of employees who are covered by the relevant MEPP for various reasons, including, but not limited to, layoffs or closures, assuming the MEPP has unfunded vested benefits. The amount of such payments (known as a complete or partial withdrawal liability) generally would equal the Company’s proportionate share of the plan’s unfunded vested benefits. Only one of the MEPP plans is currently deemed to be significant to the Company, and the following table provides the required disclosures for this plan. “Contributions” represent the amounts contributed by the Company during the fiscal years presented:
($ amounts in thousands) |  |  |  |  |  | Contributions by Company
Pension Fund: | EIN/Pension Plan Number | Pension Act Zone Status | FIP/RP Status (1) | Surcharge |  | 2025 |  | 2024 |  | 2023
Central States, Southeast and Southwest Areas Pension Fund (“Central States Plan”) | 366044243 | Critical (December 31, 2025 and 2024) | RP | No |  | $ | 388.6 |  |  | $ | 350.0 |  |  | $ | 357.8 |
(1) Funding Improvement Plan or Rehabilitation Plan, as defined by the Pension Protection Act of 2006 The Company’s contributions to the Central States Plan are approximately 0.1% of total contributions, which is less than the required disclosure threshold of five percent of total plan contributions. However, this plan is deemed significant for disclosure as it is severely underfunded, as defined. The current CBA that requires contributions to the plan expires on December 31, 2028. In May 2020, the Company received a demand letter for payment resulting from its partial withdrawal in 2018 from the Central States Plan and started making payments in June 2020. These payments are payable monthly for a period of 20 years. The Company’s liability for the remainder of these payments was $6.2 million as of January 3, 2026. The Company may, in the future, record an additional liability if required by an event of our complete withdrawal from the plan or a mass withdrawal. The Company’s most recent contingent withdrawal liability was estimated at approximately $30.4 million for a complete withdrawal occurring in 2025. In the case of a complete withdrawal or a mass withdrawal, the Central States Plan could demand yearly payments of approximately $0.7 million, which do not include payments for the partial withdrawal of approximately $0.6 million annually. In a complete withdrawal, the payments would not amortize the liability fully; however, payments for a complete withdrawal are limited to a 20-year period. In the case of a mass withdrawal, the liability would not amortize fully under current government regulations, and payments would continue indefinitely. Defined Contribution Plans Eligible Company employees can participate in one of two defined contribution plans: the BlueLinx Corporation Hourly Savings Plan (“Hourly Plan”) covering most hourly employees or the BlueLinx Corporation Salaried Savings Plan (“Salaried Plan”) covering salaried employees and specific hourly employees groups not included in the Hourly Plan. Effective January 1, 2025, these plans were merged into the LifeSight Pooled Employer Plan (“LifeSight PEP”) as distinct participating employer plans. Additionally, effective January 1, 2026 the two plans were merged into a singular plan under LifeSight PEP. Discretionary matching contributions to the plans are based on employee contributions and compensation, and, in certain cases, participants in the Hourly Plan also receive employer contributions based on union negotiated match amounts. Employer contributions to the Hourly Plan for fiscal year 2025 were approximately $1.1 million, of which $0.1 million was for fiscal 2024. Employer contributions for fiscal 2024 were approximately $1.1 million, of which less than $0.1 million was for fiscal 2023. Employer contributions were approximately $0.9 million for fiscal 2023. Employer contributions to the salaried savings plan for fiscal 2025 were approximately $2.7 million, of which $0.2 million was for fiscal 2024. Employer contributions to the salaried savings plan for fiscal 2024 were approximately $2.5 million, of which $0.1 million was for fiscal 2023. Employer contributions to the salaried savings plan for fiscal 2023 were approximately $2.5 million. Single-Employer Defined Benefit Pension Plan As previously disclosed, in October 2022, the Company, as sponsor, notified participants in its noncontributory defined benefit pension plan (the “DB Plan”) that the Company intended to transfer financial responsibility for the management and delivery of continuing benefits associated with the DB Plan to a highly rated insurance company with pension settlement experience. Most of the participants in the DB Plan were inactive, with all remaining active participants no longer accruing benefits, and the DB Plan had been previously closed to new entrants. The DB Plan’s accumulated benefit obligation and its projected benefit obligation were the same amount (a “frozen” plan), and the Company has not incurred service cost under the plan since fiscal year 2019. Benefits under the plan were primarily related to years of service. The DB Plan’s assets were maintained in a separate trust entity prior to settlement, and then used to fund the settlement transaction as described below. Effective December 5, 2023, the Company settled the frozen DB Plan by purchasing an irrevocable nonparticipating annuity contract with an insurance company (the “buy-out contract”). The buyout contract met the requirements for a settlement, as that term is defined in ASC No. 715, Compensation-Retirement Benefits, and the DB Plan and Company, as sponsor, have been relieved of primary responsibility for the benefits obligations. Immediately before the settlement, benefit obligations and plan assets of the DB Plan were $78.7 million and $78.7 million, respectively. The plan assets included a final cash contribution of $6.9 million made by the Company in fiscal 2023, as sponsor, at the time the buy-out contract was purchased. During fiscal 2024, the Company received a net refund of $2.5 million related to an adjustment to the settlement cost. Substantially all of the plan assets were used to purchase the buyout contract from the insurance company on December 5, 2023. Just prior to settlement, the Company’s accumulated other comprehensive loss included unrecognized pension cost of $30.4 million plus unrecognized deferred taxes of $4.5 million, for a total of $34.9 million and these amounts were reclassified into earnings at settlement in fourth quarter of fiscal 2023. The net adjustment to other comprehensive income for fiscal 2023 was a $32.7 million pre-tax loss. The amount for fiscal 2023 included a $30.4 million settlement loss. The remainder of the amount for fiscal 2023 was primarily due to a combination of actuarial adjustments at year end in addition to the amortization of unrealized gain and/or losses throughout the fiscal year. The net periodic pension (benefit) cost for the plan included the following:
| Fiscal Year Ended December 28, 2024 |  | Fiscal Year Ended December 30, 2023
| (In thousands)
Service cost | $ | — |  |  | $ | — |
Interest cost on projected benefit obligation | — |  |  | 4,419 |
Expected return on plan assets | — |  |  | (3,249) |
Amortization of unrecognized loss | — |  |  | 1,207 |
Before settlement (1) | — |  |  | 2,377 |
Settlement (gain) loss (2) | (2,481) |  |  | 30,440 |
Net periodic pension (benefit) cost for the pension plan | $ | (2,481) |  |  | $ | 32,817 |
(1) On the Company’s consolidated statements of operations, reported within Other expenses (income), net (2) The DB Pension Plan was frozen, and no service cost had been incurred for the plan after fiscal 2019. The settlement loss in fiscal 2023 and adjustment in fiscal 2024 are reported as a non-operating expense on the Company’s consolidated statement of operations.

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