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COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 27, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of workers’ compensation collateral commitments

We have provided our insurance carriers and certain states with commitments in the form and amounts listed below:

(in thousands)			September 27, 2020			December 29, 2019
Cash collateral held by workers’ compensation insurance carriers			$	22,076		$	22,256
Cash and cash equivalents held in Trust			18,543			23,681
Investments held in Trust			156,030			149,373
Letters of credit (1)			6,109			6,202
Surety bonds (2)			20,616			20,731
Total collateral commitments			$	223,374		$	222,243

(1)We have agreements with certain financial institutions to issue letters of credit as collateral.

(2)Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which are determined by each independent surety carrier. These fees do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days’ notice.

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Tabular disclosure of information about obligations resulting from other commitments.

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