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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2017
Employee Benefit Plans  
Individually Significant Multiemployer Pension Plans

The following table outlines our participation in Multiemployer Pension Plans considered to be individually significant (dollar amounts in millions):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expiration Date

 

 

 

 

Pension Protection Act

 

 

 

Company

 

of Collective 

 

 

EIN/Pension Plan

 

Reported Status(a)

 

FIP/RP

 

Contributions(d)

 

Bargaining  

Pension Fund

    

Number

    

2017

    

2016

    

Status(b)(c)

    

2017

    

2016

    

2015

    

Agreement(s)

Automotive Industries Pension Plan

 

EIN: 94-1133245;
Plan Number: 001

 

Critical and Declining

 

Critical and Declining

 

Implemented

 

$

 1

 

$

 1

 

$

 1

 

6/30/2018

Distributors Association Warehousemen’s Pension Trust

 

EIN: 94-0294755;
Plan Number: 002

 

Critical as of 5/31/2016

 

Critical as of 5/31/2015

 

Implemented

 

 

 1

 

 

 1

 

 

 1

 

4/7/2018

Local 731 Private Scavengers and Garage Attendants Pension Trust Fund

 

EIN: 36-6513567;
Plan Number: 001

 

Not Endangered or Critical as of 9/30/2016

 

Not Endangered or Critical as of 9/30/2015

 

Implemented

 

 

 7

 

 

 7

 

 

 7

 

Various dates
through
10/31/2019

Suburban Teamsters of Northern Illinois Pension Plan

 

EIN: 36-6155778;
Plan Number: 001

 

Endangered

 

Endangered

 

Implemented

 

 

 3

 

 

 3

 

 

 2

 

Various dates
through
9/30/2022

Teamsters Local 301 Pension Plan

 

EIN: 36-6492992;
Plan Number: 001

 

Not Endangered or Critical

 

Not Endangered or Critical

 

Not
Applicable

 

 

 1

 

 

 2

 

 

 1

 

9/30/2018

Western Conference of Teamsters Pension Plan

 

EIN: 91-6145047;
Plan Number: 001

 

Not Endangered or Critical

 

Not Endangered or Critical

 

Not
Applicable

 

 

27

 

 

25

 

 

24

 

Various dates

through

9/30/2022

Western Pennsylvania Teamsters and Employers Pension Plan

 

EIN: 25-6029946;
Plan Number: 001

 

Critical (f)

 

Critical

 

Implemented

 

 

 1

 

 

 1

 

 

 1

 

(f)

 

 

 

 

 

 

 

 

 

 

$

41

 

$

40

 

$

37

 

 

Contributions to other Multiemployer Pension Plans

 

 

 

 

 

 

 

 

 

 

 6

 

 

 7

 

 

 6

 

 

Total contributions to Multiemployer Pension Plans (e)

 

 

 

 

 

 

 

 

 

$

47

 

$

47

 

$

43

 

 


(a)

Unless otherwise noted in the table above, the most recent Pension Protection Act zone status available in 2017 and 2016 is for the plan’s year-end as of December 31, 2016 and 2015, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. As defined in the Pension Protection Act of 2006, among other factors, plans reported as critical are generally less than 65% funded and plans reported as endangered are generally less than 80% funded. Under the Multiemployer Pension Reform Act of 2014, a plan is generally in critical and declining status if it (i) is certified to be in critical status pursuant to the Pension Protection Act of 2006 and (ii) is projected to be insolvent within the next 15 years or, in certain circumstances, 20 years.

As of the date the financial statements were issued, Forms 5500 were not available for the plan years ended in 2017.

(b)

The “FIP/RP Status” column indicates plans for which a Funding Improvement Plan (“FIP”) or a Rehabilitation Plan (“RP”) is either pending or has been implemented.

(c)

A Multiemployer Pension Plan that has been certified as endangered, seriously endangered or critical may begin to levy a statutory surcharge on contribution rates. Once authorized, the surcharge is at the rate of 5% for the first 12 months and 10% for any periods thereafter. Contributing employers, however, may eliminate the surcharge by entering into a collective bargaining agreement that meets the requirements of the applicable FIP or RP.

(d)The Company was listed in the Form 5500 of the Multiemployer Pension Plans considered to be individually significant as providing more than 5% of the total contributions for each of the following plans and plan years:

 

 

 

 

    

Year Contributions to Plan

 

 

Exceeded 5% of Total Contributions

 

    

(as of Plan's Year End)

Distributors Association Warehousemen’s Pension Trust

 

5/31/2016 and 5/31/2015

Local 731 Private Scavengers and Garage Attendants Pension Trust Fund

 

9/30/2016 and 9/30/2015

Suburban Teamsters of Northern Illinois Pension Plan

 

12/31/2016 and 12/31/2015

Teamsters Local 301 Pension Plan

 

12/31/2016 and 12/31/2015

 

(e)Total contributions to Multiemployer Pension Plans excludes contributions related to withdrawal liabilities discussed below.

(f)The Company had a complete withdrawal from this plan during 2017 and correspondingly accrued a liability of $11 million relating to such withdrawal. In January 2018, the Company received a withdrawal liability assessment from the fund and is in the process of finalizing its obligation amount and payment schedule.

The Company was subsequently notified that the Western Pennsylvania Teamsters and Employers Pension Plan is now in Critical and Declining status.