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Employee Benefit Plans (Tables)
 12 Months Ended
Feb. 26, 2022
Retirement Benefits [Abstract]  
Multiemployer Plan
Our participation in these plans is outlined in the following table. The most recent Pension Protection Act zone status available in 2022 and 2021 relates to the plan years ending December 31, 2021 and December 31, 2020, respectively. The zone status is based on information that we have received from each plan, certified by an actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are between 65 percent and 80 percent funded, and plans in the green zone are at least 80 percent funded.
Pension Protection Act Zone Status
Contributions
(In thousands)
Pension FundEIN/Pension Plan Number20222021202220212020FIP/RP Status Pending/ImplementedMinimum Contribution Surcharge Imposed
Expiration Date of Collective Bargaining Agreement(1)
Atlanta Ironworkers Local Union 387 Pension Plan58-6051152GreenGreen$300 $209 $35 NoNoNo
Glazier's Union Local 27 Pension and Retirement Plan36-6034076GreenGreen256 290 165 NoNoNo5/31/2018
International Painters and Allied Trades Industry Pension Fund52-6073909RedRed837 932 525 Implemented4/30/2017
Iron Workers Local Union No. 5 and Iron Workers Employers Association Employees Pension Trust Fund52-1075473GreenGreen1,125 1,454 940 NoNoNo5/31/2017
Iron Workers Mid-America Pension Fund36-6488227GreenGreen546 431 767 NoNoNo5/31/2017
Iron Workers St. Louis District Council Pension Trust Fund43-6052659GreenGreen— 63 217 NoNoNo
Western Glaziers Retirement Plan (Washington)91-6123685GreenGreen583 160 526 NoNoNo6/30/2017
Other funds783 525 581 
Total contributions$4,430 $4,064 $3,756 
(1) Plans include contributions required by collective bargaining agreements which have expired, but contain provisions automatically renewing their terms in the absence of a subsequent negotiated agreement.

The Company was listed in the plans' Forms 5500 as providing more than 5 percent of the total contributions for the following plans and plan years:
Pension FundYear contributions to Plan Exceeded More Than 5 Percent of Total Contributions
Iron Workers Local Union No. 5 and Iron Workers Employers Association Employees Pension Trust Fund2021 and 2020
Iron Workers Mid-America Pension Fund2021 and 2020
Iron Workers St. Louis District Council Pension Trust Fund2021
Western Glaziers Retirement Plan (Washington)2021
Western Glaziers Retirement Fund (Oregon and Southwest Washington)2020
Texas Iron Workers' Pension Plan2020
Texas Iron Workers'Annuity2020
Southern Iron Workers Pension Fund2020
Upstate New York Engineers Pension Fund2020
Schedule of Defined Benefit Plans Disclosures
The following tables present reconciliations of the benefit obligation and the funded status of these plans. The Tubelite plan uses a measurement date as of the calendar month-end closest to our fiscal year-end, while the SERP uses a measurement date aligned with our fiscal year-end.
(In thousands)20222021
Change in projected benefit obligation
Benefit obligation beginning of period$13,541 $14,371 
Interest cost339 346 
Actuarial gain(475)(175)
Benefits paid(1,000)(1,001)
Benefit obligation at measurement date12,405 13,541 
Change in plan assets
Fair value of plan assets beginning of period$5,551 $5,986 
Actual return on plan assets(161)(88)
Company contributions654 654 
Benefits paid(1,000)(1,001)
Fair value of plan assets at measurement date5,044 5,551 
Underfunded status$(7,361)$(7,990)
Schedule of Amounts Recognized in Balance Sheet
The funded status was recognized in the consolidated balance sheets as follows:
(In thousands)20222021
Other non-current assets$361 $423 
Current liabilities(681)(683)
Other non-current liabilities(7,041)(7,730)
Total$(7,361)$(7,990)
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized as Components of Net Periodic Benefit Cost The following was included in accumulated other comprehensive loss and has not yet been recognized as a component of net periodic benefit cost:
(In thousands)20222021
Net actuarial loss$4,916 $5,416 
Schedule of Net Benefit Costs
Components of the defined-benefit pension plans' net periodic benefit cost:
(In thousands)202220212020
Interest cost$339 $346 $492 
Expected return on assets(85)(211)(182)
Amortization of unrecognized net loss270 260 219 
Net periodic benefit cost$524 $395 $529 
Schedule of Assumptions Used
Benefit Obligation Weighted-Average Assumptions202220212020
Discount rate3.20 %2.60 %3.80 %
Net Periodic Benefit Expense Weighted-Average Assumptions202220212020
Discount rate2.60 %2.50 %2.50 %
Expected long-term rate of return on assets2.50 %4.50 %4.50 %
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid by the plans:
(In thousands)202320242025202620272028-2032
Estimated future benefit payments$1,041 $993 $964 $936 $909 $4,041