Defined Contribution Benefit Plans

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Defined Contribution Benefit Plans

DEFINED CONTRIBUTION BENEFIT PLANS

ESA Management has a savings plan that qualifies under Section 401(k) of the Code for all employees meeting the eligibility requirements of the plan. The plan has an employer-matching contribution of 50% of the first 6% of an employee’s contribution, which vests over an employee’s initial three-year service period. The plan also provides for contribution of up to 100% of eligible employee pretax salary, subject to the Code’s annual deferral limit of $19,000 during 2019, $18,500 during 2018 and $18,000 during 2017. Employer contributions, net of forfeitures, totaled $1.9 million, $1.8 million and $1.7 million for the years ended December 31, 2019, 2018 and 2017, respectively.

ESA Management has a non-qualified deferred compensation plan to allow certain eligible employees an option to defer a portion of their compensation on a tax-deferred basis. The plan has an employer-matching contribution of 50% of the first 6%

of an employee’s contribution, which vests over a three-year service period. The plan is fully funded in a Rabbi Trust, which is subject to creditor claims in the event of insolvency, but the assets held in the Rabbi Trust are not available for general corporate purposes. As of December 31, 2019 and 2018, plan assets and liabilities of $2.3 million and $1.4 million, respectively, are included in other assets and accounts payable and accrued liabilities on the accompanying consolidated balance sheets.