Note 9 - Pension Plans

12 Months Ended

Apr. 29, 2017

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

9.

       

PENSION PLANS

The Company contributes to certain pension plans under collective bargaining agreements and to a discretionary profit sharing plan. Annual contributions (including contributions to multi-employer plans reflected below) were

$3.1

million for Fiscal

2017,

$2.9

million for Fiscal

2016

and

$2.7

million for Fiscal

2015.

The Company participates in

three

multi-employer defined benefit pension plans with respect to certain collective bargaining agreements. If the Company chooses to stop participating in the multi-employer plan or if other employers choose to withdraw to the extent that a mass withdrawal occurs, the Company could be required to pay the plan a withdrawal liability based on the underfunded status of the plan. During Fiscal

2017,

a subsidiary of the Company reached a settlement with respect to a notification of withdrawal liability by

one

of the multi-employer pension plans

not

considered significant. The settlement did

not

have a material effect on its financial position or results of operations.

Summarized below is certain information regarding the Company’s participation in significant multi-employer pension plans including the financial improvement plan or rehabilitation plan status (“FIP/RP Status”) and the zone status under the Pension Protection Act (“PPA”). The most recent PPA zone status available in Fiscal

2017

and Fiscal

2016

is for the plans’ years ending

December 

31,

2015

and

2014,

respectively.

	PPA Zone Status
	Fiscal	Fiscal		Surcharge
Pension Fund	2017	2016	FIP/RP Status	Imposed
Central States, Southeast and Southwest Areas Pension Plan (EIN no. 36-6044243) (the “CSSS Fund”)	Red	Red	Implemented	Yes
Western Conference of Teamsters Pension Trust Fund (EIN no. 91-6145047) (the “WCT Fund”)	Green	Green	Not applicable	No

For the plan years ended

December 

31,

2015

and

December 31, 2014,

the Company was

not

listed in the Form

5500

Annual Returns as providing more than

5%

of the total contributions for the above plans. The collective bargaining agreements for employees in the CSSS Fund and the WCT Fund expire on

October 18, 2021

and

May 14, 2021,

respectively

.

The Company’s contributions for all multi-employer pension plans for the last

three

fiscal years are as follow:

	(In thousands)
	Fiscal		Fiscal		Fiscal
Pension Fund	2017		2016		2015
CSSS Fund	$	1,262	$	1,172	$	1,103
WCT Fund		477		485		637
Other multi-employer pension funds		201		448		306
Total	$	1,940	$	2,105	$	2,046