Other Employee Benefit Plans

Employee 401(k) Plans

The Company has a 401(k) Savings and Retirement Plan (the “Plan”) to provide for voluntary salary deferral contributions on a pre-tax basis for employees within the United States in accordance with Section 401(k) of the Internal Revenue Code of 1986, as amended. The Plan allows for contributions by the Company. The Company made and expensed matching contributions of $8.1 million, $7.5 million and $6.9 million during the years ended December 31, 2016, 2015 and 2014, respectively.

Pension Plans

The Company previously offered most of the employees outside the United States participation in a defined benefit pension plan that has been curtailed. In addition, the Company provides a Supplemental Executive Retirement Plan (the “SERP”) for certain officers of the Company based in the United States.

The Company has recorded changes to the minimum pension liability to accumulated other comprehensive earnings (loss) and the estimated benefit to be paid in 2017 has been reported in other current liabilities. The remaining obligations are recorded in pension and other long-term liabilities. The measurement date used for the pension plans is December 31.


Note 16.	Other Employee Benefit Plans - (Continued)

Pension Plans - (Continued)

Amounts recognized in other comprehensive income (loss) during the years ended December 31, 2016, 2015 and 2014, net of tax, are as follows (in thousands):



	Year Ended December 31,
	2016		2015		2014
Net earnings (loss)	$	78	$	500	$	(372	)
Prior service cost	24		161		160
	$	102	$	661	$	(212	)

Components of accumulated other comprehensive loss related to the Company’s pension plans as of December 31, 2016 and 2015 are as follows (in thousands):



	December 31,
	2016			2015
Net loss	$	(1,630	)	$	(1,708	)
Prior service cost	15			(9		)
	$	(1,615	)	$	(1,717	)

A summary of the components of the net periodic pension expense for the benefit obligation and fund assets of the plans is as follows (in thousands):



	Year Ended December 31,
	2016			2015
Change in benefit obligation:
Benefit obligation at January 1	$	11,426		$	11,813
Service costs	—			156
Interest costs	397			353
Actuarial loss (gain)	177			(199		)
Benefits paid	(312		)	(312		)
Foreign currency changes	(269		)	(385		)
Benefit obligation at December 31	$	11,419		$	11,426
Fair value of plan assets at December 31	$	—		$	—
Unfunded status at December 31	$	11,419		$	11,426
Amounts recognized in the Consolidated Balance Sheets:
Current liabilities	$	292		$	307
Non-current liabilities	$	11,127		$	11,119


Note 16.	Other Employee Benefit Plans - (Continued)

Pension Plans - (Continued)

The weighted average assumptions used are as follows:



	Year Ended December 31,
	2016		2015
Net periodic benefit cost:
SERP:
Discount rate	4.00	%	3.75	%
Rate of increase in compensation levels	3.00	%	3.00	%
Defined benefit pension plan for employees outside the United States:
Discount rate	2.00	%	2.60	%
Funded status and projected benefit obligation:
SERP:
Discount rate	4.00	%	4.00	%
Rate of increase in compensation levels	3.00	%	3.00	%
Defined benefit pension plan for employees outside the United States:
Discount rate	2.00	%	2.60	%

The discount rates used are based upon publicly listed indices for instruments with average maturities estimated to be consistent with the respective obligations.

A pension liability of $2.6 million and $2.8 million as of December 31, 2016 and 2015, respectively, has been recognized for the pension plans representing the excess of the unfunded accumulated benefit obligation over the accrued pension costs.

Benefits expected to be paid under the plans are approximately (in thousands):



2017	$	292
2018	271
2019	267
2020	253
2021	9,113
Five years thereafter	1,048
	$	11,244

Components of net periodic benefit cost are as follows (in thousands):



	Year Ended December 31,
	2016		2015		2014
Service costs	$	—	$	156	$	166
Interest costs	397		353		444
Net amortization and deferral	260		513		279
Settlement loss	—		—		163
Net periodic pension costs	$	657	$	1,022	$	1,052

Components of net periodic benefit cost expected to be recognized from amounts in accumulated other comprehensive earnings (loss) during the year ending December 31, 2017 are as follows (in thousands):



	Year Ending December 31, 2017
Net loss	$	155
Net prior service cost	—
	$	155