Retirement Plans (Notes)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Retirement Plans [Text Block]

Retirement Plans

As of December 31, 2021, we maintained a qualified defined contribution plan. Our qualified defined contribution plan covers substantially all employees and complies with Section 401 of the Internal Revenue Code. Under this plan, we stipulated a basic matching contribution that matches a portion of the participants' contribution based upon a defined schedule. Additionally, this plan contains a discretionary contribution component where we may contribute additional amounts based on a percentage of eligible employees' compensation. Contributions are invested by an independent investment company. The choice of investment alternatives is at the election of each participating employee. Our contributions to the plan were approximately $40.4 million, $33.0 million and $26.7 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, we maintained an Employee Supplemental Savings Plan (ESSP), which is a nonqualified deferred compensation plan for certain key employees. Prior to January 1, 2020, eligible employees could defer up to 75% of qualified annual base compensation and 100% of bonus. Beginning in the 2020 plan year, additional deferrals were suspended. Contributions made in 2020 relate to deferrals on bonuses earned in 2019 but paid in 2020. In the ESSP, participant deferral accounts are credited with a rate of return based on investment elections as selected by the participant. The assets related to the ESSP are held in a rabbi trust owned by us for benefit of the participating employees. The trust investments are in the form of variable universal life insurance products, which are owned by us. These investments seek to replicate the return of the participant investment elections. There were no employee contributions for the year ended December 31, 2021. Employee contributions to this plan were approximately $0.5 million and $3.4 million for the years ended December 31, 2020 and 2019, respectively.

We maintained a nonqualified supplemental defined benefit pension plan for certain retired employees of an acquired company as of December 31, 2021. These plans were informally and partially funded beginning in 1999 through a rabbi trust. Assets held in a rabbi trust are not eligible to be included in the calculation of plan status. At both December 31, 2021 and 2020, 100% of the rabbi trust assets were invested in a money market account with a commercial bank. All covered employees retired prior to 1998. Our benefit obligation was $0.6 million and $0.7 million at December 31, 2021 and 2020, respectively.