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 $9.8 million, $8.9 million and $8.1 million during the years ended December 31, 2018, 2017 and 2016, 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 previously provided a Supplemental Executive Retirement Plan (the “SERP”) for certain officers of the Company based in the United States. As of December 31, 2017, the last remaining SERP participant retired. Consequently, during the year ended December 31, 2018 and 2017, the Company recorded a settlement gain of approximately $0.6 million and an actuarial gain of approximately $1.7 million, respectively, primarily associated with the change in projected benefit obligation associated with the adjusted date of expected retirement and related actuarial compensation estimates for the final SERP participant.

The Company has recorded changes to the minimum pension liability to accumulated other comprehensive earnings (loss) and the estimated benefit to be paid in 2019 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.

Amounts recognized in other comprehensive income (loss) during the years ended December 31, 2018, 2017 and 2016, net of tax, are as follows (in thousands):



	Year Ended December 31,
	2018			2017			2016
Net earnings (loss)	$	(338	)	$	1,286		$	78
Prior service cost	—			(15		)	24
	$	(338	)	$	1,271		$	102

Components of accumulated other comprehensive loss related to the Company’s pension plans as of December 31, 2018 and 2017 are as follows (in thousands):



	December 31,
	2018			2017
Net loss	$	(682	)	$	(344	)
Prior service cost	—			—
	$	(682	)	$	(344	)


Note 17.	Other Employee Benefit Plans - (Continued)

Pension Plans - (Continued)

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,
	2018			2017
Change in benefit obligation:
Benefit obligation at January 1	$	10,149		$	11,419
Interest costs	96			386
Actuarial loss (gain)	22			(1,720		)
Benefits paid	(6,230		)	(310		)
Foreign currency changes	(327		)	374
Benefit obligation at December 31	$	3,710		$	10,149
Fair value of plan assets at December 31	$	—		$	—
Unfunded status at December 31	$	3,710		$	10,149
Amounts recognized in the Consolidated Balance Sheets:
Current liabilities	$	293		$	6,262
Non-current liabilities	$	3,417		$	3,887

The weighted average assumptions used are as follows:



	Year Ended December 31,
	2018		2017
Net periodic benefit cost:
SERP:
Discount rate	2.75	%	4.00	%
Rate of increase in compensation levels	n/a		3.00	%
Defined benefit pension plan for employees outside the United States:
Discount rate	1.75	%	2.00	%
Funded status and projected benefit obligation:
SERP:
Discount rate	3.40	%	2.75	%
Rate of increase in compensation levels	n/a		n/a
Defined benefit pension plan for employees outside the United States:
Discount rate	1.75	%	1.75	%

For the SERP, the discount rate used is determined using a yield curve and applying the individual spot rates from appropriate maturities to each of the future expected benefit payouts by year to better match the plan's duration. The Company then discounted back to the measurement date to determine the appropriate single level equivalent discount rate. As there are no active participants left in the plan, there was no rate of increase for compensation levels included in the December 31, 2018 and 2017 year-end projected benefit obligations.

For the defined benefit pension plan outside the United States, the discount rate is determined by reference to market yields at the end of the reporting period on high quality corporate bonds with similar maturities matching the duration of the projected benefit obligation.

A pension liability of $1.2 million and $0.8 million as of December 31, 2018 and 2017, respectively, has been recognized for the pension plans representing the excess of the unfunded accumulated benefit obligation over the accrued pension costs.


Note 17.	Other Employee Benefit Plans - (Continued)

Pension Plans - (Continued)

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



2019	$	418
2020	412
2021	406
2022	390
2023	386
Five years thereafter	1,266
	$	3,278

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



	Year Ended December 31,
	2018			2017		2016
Service costs	$	—		$	—	$	—
Interest costs	96			386		397
Net amortization and deferral	63			235		260
Settlement gain	(608		)	—		—
Net periodic pension (income) cost	$	(449	)	$	621	$	657

Components of net periodic benefit cost expected to be recognized from amounts in accumulated other comprehensive earnings (loss) during the year ending December 31, 2019 is $48,000.