14.	Benefit Plans

Medical and Dental Plan

The Company maintains medical and dental benefit plans covering

its full-time domestic employees and their dependents. Certain plans are partially or fully self-funded plans under which participant claims are obligations of the plan. These plans are funded through employer and employee contributions at a level sufficient to pay for the benefits provided by the plan. The Company’s contributions to the plans were

$15,019,

$14,352,

and

$11,701

for the years ended

December

31,

2016,

2015,

and

2014,

respectively.

The Company

’s foreign subsidiaries participate in government sponsored medical benefit plans. In certain cases, the Company purchases supplemental medical coverage for certain employees at these foreign locations

. The expenses related to these plans are not material to the Company’s consolidated financial statements.

avings Plan

The Company maintains

defined-contribution

401(k)

savings plans for eligible domestic employees. Under the plans, employees

may

defer receipt of a portion of their eligible compensation. The Company amended the

401(k)

savings plans effective

January

2009,

to add Company matching and non-elective contributions. The Company

may

contribute a matching contribution of

50%

of the

first

of eligible compensation of employees. The Company

may

also contribute a non-elective contribution for eligible employees employed on

December

31,

2008.

Both Company matching contributions and non-elective contributions are subject to vesting. Forfeitures

may

be applied against plan expenses and company contributions. The Company recognized

$3,400,

$3,000

and

$3,400

of expense related to this plan in

2016,

2015

and

2014,

respectively.

Pension Plans

The Company has

frozen noncontributory salaried and hourly pension plans (Pension Plans) covering certain domestic employees. The benefits under the salaried plan are based upon years of service and the participants’ defined final average monthly compensation. The benefits under the hourly plan are based on a unit amount at the date of termination multiplied by the participant’s years of credited service. The Company’s funding policy for the Pension Plans is to contribute amounts at least equal to the minimum annual amount required by applicable regulations.

The Company uses a

December

measurement date for the Pension Plans.

The table that includes the accumulated benefit obligation and reconciliation of the changes in projected benefit obligation, changes in plan assets and the funded status of the Pension Plans is as follows:

	Year Ended December 31,
	201 6			201 5

Accumulated benefit obligation at end of period	$	65,956		$	63,894

Change in projected benefit obligation
Projected benefit obligation at beginning of period	$	63,894		$	68,376
Interest cost		2,747			2,681
Net actuarial loss (gain)		1,363			(5,254	)
Benefits paid		(2,048	)		(1,909	)
Projected benefit obligation at end of period	$	65,956		$	63,894

Change in plan assets
Fair value of plan assets at beginning of period	$	43,985		$	45,452
Actual return (loss) on plan assets		3,820			(384	)
Company contributions		731			826
Benefits paid		(2,048	)		(1,909	)
Fair value of plan assets at end of period	$	46,488		$	43,985

Funded status: accrued pension liability included in other long-term liabilities	$	(19,468	)	$	(19,909	)

Amounts recognized in accumulated other comprehensive loss
Net actuarial loss, net of tax	$	(11,040	)	$	(11,362	)

The

actuarial loss for the Pension Plans that was amortized from AOCL into net periodic (benefit) cost during

2016

$941.

The amount in AOCL as of

December

31,

2016

that is expected to be recognized as a component of net periodic pension expense during the next fiscal year is

$883.

The

components of net periodic pension (benefit) cost are as follows:

	Year E nded December 31,
	201 6			201 5			201 4
Interest cost	$	2,747		$	2,681		$	2,591
Expected return on plan assets		(2,868	)		(3,041	)		(2,933	)
Amortization of net loss		941			1,228			106
Net periodic pension (benefit) cost	$	820		$	868		$	(236	)

Weighted-average assumptions used to determine

the benefit obligations are as follows:

	December 31,
	201 6			201 5
Discount rate – salaried pension plan		4.14	%		4.36	%
Discount rate – hourly pension plan		4.16	%		4.39	%
Rate of compensation increase (1)		n/a			n/a

(1)

No compensation increase was assumed as the plans were frozen effective

December

31,

2008.

Weighted-average assumptions used to

determine net periodic pension (benefit) cost are as follows:

	Y ear E nded December 31,
	201 6			201 5			201 4
Discount rate		4.39	%		3.99	%		5.01	%
Expected long-term rate of return on plan assets		6.62	%		6.75	%		6.88	%
Rate of compensation increase (1)		n/a			n/a			n/a

(1)

No compensation increase was assumed as the plans were frozen effective

December

31,

2008

To determine the long-term rate of return assumption for plan assets, the Company studies historical markets and preserves the long-term historical relationships between equities and fixed-income securities consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. The Company evaluates current market factors such as inflation and interest rates before it determines long-term capital market assumptions and reviews peer data and historical returns to check for reasonableness and

appropriateness.

The Pension Plans

’ weighted-average asset allocation at

December

31,

2016

and

2015,

by asset category, is as follows:

				December 31, 201 6					December 31, 201 5
Asset Category	Target			Dollars		%			Dollars		%
Fixed Income		20	%	$	7,812		17	%	$	8,571		19	%
Domestic equity		49	%		19,615		42	%		20,479		47	%
International equity		21	%		13,466		29	%		9,687		22	%
Real estate		10	%		5,595		12	%		5,248		12	%
Total		100	%	$	46,488		100	%	$	43,985		100	%

The fair values of the Pension Plans

’ assets at

December

31,

2016

are as follows:

	Total		Quoted Prices in Active Markets for Identical A sset (L evel 1)		Significant Observable I nputs (L evel 2)		Significant U nobservable I nputs (L evel 3)
Mutual fund s	$	37,860	$	37,860	$	–	$	–
Other investments		8,628		–		–		8,628
Total	$	46,488	$	37,860	$	–	$	8,628

The fair values of the Pension Pl

an's assets at

December

31,

2015

are as follows:

	Total		Quoted Prices in Active Markets for Identical A sset (L evel 1)		Significant O b servable I nputs (L evel 2)		Significant Unobservable I nputs (L evel 3)
Mutual fund s	$	40,310	$	40,310	$	–	$	–
Other investment s		3,675		–		–		3,675
Total	$	43,985	$	40,310	$	–	$	3,675

A reconciliation of beg

inning and ending balances for Level

assets for the years ended

December

31,

2016

and

2015

is as follows:

	Year Ended December 31,
	2016		2015
Balance at beginning of period	$	3,675	$	3,185
Purchases		4,400		408
Realized gains		553		82
Balance at end of period	$	8,628	$	3,675

Mutual Funds

– This category includes investments in mutual funds that encompass both equity and fixed income securities that are designed to provide a diverse portfolio. The plan’s mutual funds are designed to track exchange indices, and invest in diverse industries. Some mutual funds are classified as regulated investment companies. Investment managers have the ability to shift investments from value to growth strategies, from small to large capitalization funds, and from U.S. to international investments. These investments are valued at the closing price reported on the active market on which the individual securities are traded. These investments are classified within Level

of the fair value hierarchy.

Other Investments

– This category includes investments in limited partnerships and are valued at estimated fair value, as determined with the assistance of each respective limited partnership, based on the net asset value of the investment as of the balance sheet date, which is subject to judgment, and therefore is classified within Level

of the fair value hierarchy.

The Company

’s target allocation for equity securities and real estate is generally between

65%

85%,

with the remainder allocated primarily to fixed income (bonds). The Company regularly reviews its actual asset allocation and periodically rebalances its investments to the targeted allocation when considered appropriate.

The Company expects to make estimated

contributions of

$568

to the Pension Plans in

2017.

The following benefit payments are expected to be paid from the Pension Plans:

201 7	$	2,258
201 8		2,354
201 9		2,430
20 20		2,556
202 1		2,692
2022 – 2026		16,021

Certain of the Company

’s foreign subsidiaries participate in local defined benefit or other post-employment benefit plans. These plans provide benefits that are generally based on years of credited service and a percentage of the employee’s eligible compensation earned throughout the applicable service period. Liabilities recorded under these plans are included in accrued wages and employee benefits in the Company’s consolidated balance sheets and are not material.