Multiemployer Plans that Provide Pension Benefits

12 Months Ended

Feb. 29, 2020

Multiemployer Plans that Provide Pension Benefits

Multiemployer Plans that Provide Pension Benefits

19. Multiemployer Plans that Provide Pension Benefits

The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover certain of its union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans. 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. Additionally, 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 these plans for the annual period ended February 29, 2020 is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number (EIN) and the three-digit plan number, if applicable. The most recent Pension Protection Act zone status available for fiscal 2020 and fiscal 2019 is for the plan year-ends as indicated below. 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 red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded, and plans in the green zone are at least 80% funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented. In addition to regular plan contributions, the Company may be subject to a surcharge if the plan is in the red zone. The “Surcharge Imposed” column indicates whether a surcharge has been imposed on contributions to the plan. The last two columns list the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject and any minimum funding requirements. There have

been no significant changes that affect the comparability of total employer contributions of fiscal years 2020, 2019 and 2018.

Expiration

FIP/ RP

Date of

Pension Protection

Status

Collective-

Minimum

EIN/Pension

Act Zone Status

Pending/

Contributions of the Company

Surcharge

Bargaining

Funding

Pension

Plan Number

2020

2019

Implemented

2020

2019

2018

Imposed

Agreement

Requirements

1199 SEIU Health Care Employees Pension Fund

13-3604862-001

Green— 12/31/2018

Green— 12/31/2017

No

$

9,026

$

9,670

$

7,372

No

4/18/2022

Contribution rate of 12.6% of gross wages per associate beginning 09/30/2018. Contribution rate of 10.76% of gross wages earned per associate beginning 01/01/2016.

Southern California United Food and Commercial Workers Unions and Drug Employers Pension Fund

51-6029925-001

Red— 12/31/2019

Red— 12/31/2018

Implemented

8,495

8,273

8,149

No

7/17/2021

From 01/01/2020 through 12/31/2020 contributions of $1.758 per hour worked for pharmacists and $0.797 per hour worked for non-pharmacists. From 01/01/2019 through 12/31/2019 contributions of $1.672 per hour for worked for pharmacists and $0.758 per hour worked for non pharmacists. From 01/01/2018 to 12/31/2018 contributions of $1.586 per hour worked.

UFCW Pharmacists, Clerks and Drug Employers Pension Trust

94-2518312-001

Green— 12/31/2019

Green— 12/31/2018

No

2,421

2,666

2,739

No

7/13/2019

Effective 09/01/2014, contribution rate frozen at $0.55 per hour worked for associates.

United Food and Commercial Workers Union-Employer Pension Fund

34-6665155-001

Red— 9/30/2019

Red— 9/30/2018

Implemented

738

772

786

No

2/28/2021

Effective 02/03/2019 contribution rate of $2.16 per hour worked. Effective 02/04/2018 contribution rate of $2.03 per hour worked. Effective 02/05/2017 contribution rate of $1.89 per hour worked.

United Food and Commercial Workers Union Local 880—Mercantile Employers Joint Pension Fund

51-6031766-001

Yellow— 9/30/2019

Yellow— 9/30/2018

Implemented

437

470

495

No

2/28/2021

Effective 10/01/2019 contribution rate of $2.06 per hour worked. Effective 10/01/2018 contribution rate of $1.97 per hour worked. Effective 01/01/2017 contribution rate $1.88 per hour worked.

Other Funds

1,554

1,648

1,438

$

22,671

$

23,499

$

20,979

The Company was listed in these plans Forms 5500 as providing more than 5% of the total contributions for the following plans and plan years:

	Year Contributions to Plan
	Exceeded More Than 5 % of
	Total Contributions (as of
Pension Fund	the Plan’s Year-End)
UFCW Pharmacists, Clerks and Drug Employers Pension Trust	12/31/2018 and 12/31/2017
Southern California United Food and Commercial Workers Unions and Drug Employers Pension Fund	12/31/2018 and 12/31/2017
United Food & Commercial Workers Union - Employer Pension Fund	9/30/2018 and 9/30/2017
United Food & Commercial Workers Union Local 880—Mercantile Employers Joint Pension Fund	9/30/2018 and 9/30/2017

At the date the Company’s financial statements were issued, certain Forms 5500 were not available.

During fiscal 2020, 2019 and 2018, the Company did not withdraw from any plans or incur any additional withdrawal liabilities.