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EMPLOYEE RETIREMENT SAVINGS PLAN
12 Months Ended
Dec. 26, 2020
Retirement Benefits [Abstract]  
EMPLOYEE RETIREMENT SAVINGS PLAN EMPLOYEE RETIREMENT SAVINGS PLAN
Established under Internal Revenue Code Section 401(k), the Valmont Employee Retirement Savings Plan (“VERSP”) is a defined contribution plan available to all eligible employees. Participants can elect to contribute up to 50% of annual pay, on a pretax and/or after-tax basis. The Company also makes contributions to the Plan and a non-qualified deferred compensation plan for certain Company executives. The 2020, 2019 and 2018 Company contributions to these plans amounted to approximately $14,800, $12,600 and $12,300 respectively.
The Company sponsors a fully‑funded, non-qualified deferred compensation plan for certain Company executives who otherwise would be limited in receiving company contributions into VERSP under Internal Revenue Service regulations. The invested assets and related liabilities of these participants were $35,125 and $36,290 at December 26, 2020 and December 28, 2019, respectively. Such amounts are included in “Other assets” and “Deferred compensation” on the Consolidated Balance Sheets. Amounts distributed from the Company’s non-qualified deferred compensation plan to participants under the transition rules of section 409A of the Internal Revenue Code were approximately $5,067 and $8,335 at December 26, 2020 and December 28, 2019, respectively. All distributions were made in cash.