17.Employee Benefits

All of the Company’s marine segment employees except the Associate Divers, the Associate Tugmasters, and union employees in the Pacific Northwest, are eligible to participate in the Company’s 401(k) Retirement Plan after completing six months of service. Each participant may contribute between 1% and 80% of eligible compensation on a pre-tax basis, up to the annual IRS limit. The Company matches 100% on the first 2% of eligible compensation contributed to the Plan and 50% on the next 2% of eligible compensation contributed to the Plan. Participants’ contributions are fully vested at all times. Employer matching contributions vest over a four-year period. At its discretion, the Company may make additional matching and profit-sharing contributions. During the years ended December 31, 2019, 2018 and 2017 the Company contributed $1.3 million, $1.4 million and $1.4 million, respectively to the Plan.

All of the Company’s concrete segment employees except Leads, Helpers, Laborers, Finishers, Formsetters, Carpenters, Rodbusters, Patchmen, Equipment Operators, Field Engineering Trainees and certain Highly Compensated Employees are eligible to participate in the AGC Southwest Chapters 401(k) Retirement Plan, a multiple employer plan, after completing three months of service. Each participant may contribute up to the annual IRS limit. The Company matches 50% on the first 6% of eligible compensation contributed to the Plan. Participants’ contributions are fully vested at all times. Employer matching contributions vest over a five-year period. At its discretion, the Company may make additional matching and profit-sharing contributions. During the year ended December 31, 2019, 2018 and 2017, the Company contributed $0.1 million, $0.2 million and $0.4 million, respectively.

The Company’s contributes to several multi-employer defined pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. Risks of participating in these multi-employer plans are different from single-employer plans in the following aspects:

Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers;

If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and

If the Company chooses to stop participating in its multi-employer plans, it may be required to pay a withdrawal liability based on the underfunded status of the plan.

The following table presents the Company’s participation in these plans:


		Pension Protection										Expiration
		Act ("PPA")										of
	Employer	Certified Zone Status		FIP/RP								Collective
	Identification	(1)		Status	Contributions						Surcharge	Bargaining
Pension Trust Fund	Number	2019	2018	P/I (2)	2019		2018		2017		Imposed	Agreement
International Union of Operating Engineers - Employers Construction Industry Retirement Plan - Local 302 and 612 Trust Funds	91-6028571	Green	Green	N/A	$	3,021	$	2,482	$	1,974	—	2022
Washington Laborers	91-6022315	Green	Green	N/A	$	30	$	—	$	—	—	2023
Carpenters Retirement Plan of Western Washington	91-6029051	Green	Green	N/A	$	695	$	932	$	693	—	2022
Cement Masons & Plasterers Trust Funds	91-6066773	Green	Green	N/A	$	2	$	—	$	—	—	2023
Washington-Idaho-Montana Carpenters-Employers Retirement Trust Fund	91-6123987	Yellow	Yellow	I	$	36	$	—	$	—	—	2021
Engineers - AGC Retirement Trust of the Inland Empire	91-6070237	Yellow	Yellow	I	$	20	$	—	$	—	—	2021
Alaska Carpenters Trust Fund	92-0120866	Yellow	Green	I	$	377	$	328	$	396	—	2021
Alaska Laborers Trust Fund	91-6028298	Yellow	Yellow	I	$	552	$	321	$	218	—	2020

(1)

The most recent PPA zone status available in 2019 and 2018 is for the plan’s year end during 2018 and 2017, respectively. Zone status is based on information received from the plan and is indicative of the plans funding status. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the orange zone are less than 80 percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next six years, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded.

(2)

The FIP/RP Status P/I column indicates plans for which a financial improvement plan ("FIP") or a rehabilitation plan ("RP") is either pending ("P"), or implemented ("I").

There are currently no plans to withdraw from any of the multi-employer plans in which the Company participates.