Multiemployer Pension Plans

Overview. The Company contributes to multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees at certain facilities. At December 31, 2013, approximately

55% of the Company's total employees were union-represented employees at facilities participating in these multiemployer pension plans. The Company currently estimates that contributions will range from $3.0 to $5.0 per year through 2015.

The risks of participating in these multiemployer plans are different from single-employer plans in the following aspects:


•	Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.


•	If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.


•	If the Company chooses to stop participating in some of its multiemployer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.

The Company's participation in multiemployer pension plans for the annual period ended December 31, 2013 is outlined in the table below.



Pension Fund	Employer Identification Number	Pension Protection Act Zone Status¹		FIP/RP Status Pending/Implemented in 2013²	Contributions of the Company						Surcharge Imposed in 2013	Expiration Date of Collective-Bargaining Agreement
Pension Fund	Employer Identification Number	Pension Protection Act Zone Status¹		FIP/RP Status Pending/Implemented in 2013²	2013		2012		2011		Surcharge Imposed in 2013	Expiration Date of Collective-Bargaining Agreement
		2013	2012
Steelworkers Pension Trust (USW)³	236648508	Green	Green	No	$	2.9	$	3.0	$	2.6	No	Mar 2014	-	Nov 2017
Other Funds⁴					0.9		0.9		1.0
					$	3.8	$	3.9	$	3.6

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¹	The most recent Pension Protection Act zone status available in 2013 and 2012 for the Steelworkers Pension Trust is for the plan's year-end at December 31, 2012 and December 31, 2011, respectively. The zone status is based on information that the Company received from the plan and is certified by the plan's actuary. Among other factors, plans in the green zone are at least 80 percent funded.


²	The “FIP/RP Status Pending/Implemented” column indicates if a Financial Improvement Plan (FIP) or a Rehabilitation Plan (RP) is either pending or has been implemented for the plan under the Pension Protection Act.

The Company is party to three USW collective-bargaining agreements that require contributions to the Steelworkers Pension Trust. Current USW collective bargaining agreements covering employees at the Newark, Ohio and Spokane (Trentwood), Washington facilities covers 89% of the Company's USW-represented employees and expires in September 2015. The Company's monthly contributions per hour worked by each bargaining unit employee at the Newark, Ohio and Spokane (Trentwood), Washington facilities are (in whole dollars) $1.25 and will increase to (in whole dollars) $1.50 in July 2015. The union contracts covering employees at the Richmond (Bellwood), Virginia facility and Florence, Alabama facility cover 7% and 4% of the Company's USW-represented employees, respectively, and expire in November 2017 and March 2014, respectively.


⁴	Other Funds consists of plans that are not individually significant.

The Company was not listed in any of the plans' Forms 5500 or the CWIPP financial statements as providing more than 5% of the total contributions for any of the plan years disclosed. At December 31, 2013, Forms 5500 were not available for the plan years ending in 2013. Further, there were no significant changes to the number of employees covered by the Company's multiemployer plans that would affect the period-to-period comparability of the contributions for the years presented.