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Multiemployer Plans that Provide Pension Benefits

12 Months Ended

Mar. 04, 2023

Multiemployer Plans that Provide Pension Benefits

Multiemployer Plans that Provide Pension Benefits

20. 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 March 4, 2023 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 2023 and fiscal 2022 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 2023, 2022 and 2021.

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

2023

2022

Implemented

2023

2022

2021

Imposed

Agreement

Requirements

1199 SEIU Health Care Employees Pension Fund

13-3604862-001

Green—
12/31/2021

Green—
12/31/2020

7,493

9,242

9,613

4/18/2025

Contribution rate of 11.3% of gross wages per associate beginning 10/01/2021. Contribution rate of 12.6% of gross wages per associate beginning 09/30/2018.

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

51-6029925-001

Green—
12/31/2022

Red—
12/31/2021

8,131

8,989

8,239

7/20/2024

Beginning 01/01/2021, contributions of $1.844 per hour worked for pharmacists and $0.836 per hour worked for non-pharmacists. 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.

UFCW Pharmacists, Clerks and Drug Employers Pension Trust

94-2518312-001

Green—
12/31/2022

Green—
12/31/2021

2,605

3,224

2,319

7/13/2022

Effective 01/01/2020, contribution rate of $0.855 per hour worked for clerks and $1.239 per hour works for pharmacists. 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—
9/30/2022

Red—
9/30/2021

Implemented

954

802

809

7/07/2024

Effective 02/06/2022, contribution rate of $2.57 per hour worked.
Effective 02/07/2021 contribution rate of $2.43 per hour worked.
Effective 02/02/2020 contribution rate of $2.30 per hour worked.

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

51-6031766-001

Green—
9/30/2022

Green—
9/30/2021

434

370

399

7/07/2024

Effective 10/01/2022 contribution rate of $2.33 per hour worked.
Effective 10/01/2021 contribution rate of $2.24 per hour worked.
Effective 10/01/2020 contribution rate of $2.15 per hour worked.

Other Funds

2,046

1,887

1,573

21,663

24,514

22,952

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		12/31/2021 and 12/31/2020
Southern California United Food and Commercial Workers Unions and Drug Employers Pension Fund		12/31/2021 and 12/31/2020
United Food & Commercial Workers Union - Employer Pension Fund		9/30/2021 and 9/30/2020
United Food & Commercial Workers Union Local 880—Mercantile Employers Joint Pension Fund		9/30/2021 and 9/30/2020

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

During fiscal 2023, 2022 and 2021, the Company did not withdraw from any plans or incur any additional withdrawal liabilities.