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EMPLOYMENT AGREEMENTS AND EMPLOYEE BENEFIT PLANS
 12 Months Ended
Dec. 31, 2011
EMPLOYMENT AGREEMENTS AND EMPLOYEE BENEFIT PLANS
18. EMPLOYMENT AGREEMENTS AND EMPLOYEE BENEFIT PLANS

 

Pension Plan Contributions — the Company contributes to multi-employer pension plans under various union agreements in Las Vegas to which the Company is a party. Contributions, based on wages paid to covered employees, were approximately $1,715,000, and $1,482,000 for the years ended December 31, 2011 and 2010, respectively.

 

The status of pension plan funding for each of our collective bargaining unit employees is outlined in the table below:

 

                         Funding Improvement    Company Contributions  
                         Plan (FP)/    (in thousands)  
           Pension Protection      Rehabilitation    Year      Year  
      Employer     Act Zone Status      Plan (RP)    Ended      Ended  
  Plan     Identification   Expiration   Plan Year   Plan Year     Pending/Implemented   December 31,      December 31,  
Pension Plan Legal Name   Number     Number   Date   2010   2009     (Yes or No)   2011     2010  
Southern Nevada Culinary Workers and Bartenders
Pension Plan Trust		     1     88-6016617   5/31/2012   Green     Green     No   $ 814     $ 735  
Nevada Resort Association — I.A.T.S.E. Local 720
Pension Trust		     1     51-0144767   5/31/2012   Red     Green     Implemented RP     43       36  
Western Conference of  Teamsters Pension Trust     1     91-0681009   3/31/2013   Green     Green     No     409       350  
Central Pension Fund of  the International Union of
Operating Engineers and Participating Employers		     1     36-6052390   5/31/2011   Green     Yellow     No     251       222  
Southwest Carpenters Joint Trust Fund     1     95-6042875   7/31/2011   Green     Green     No     105       88  
National Electrical Benefit Fund     1     88-6023284   7/31/2011   Green     Green     No     18       11  
International Painters and Allied Trades Industry Pension Fund     1     52-0853800   5/31/2013   Yellow     Yellow     Implemented-FP     68       31  
American Federation of Musicians and Employers' Pension Fund     1     51-6120204   2/29/2012   Red     Green     Implemented RP     7       9  
Total Contributions                              $ 1,715      $ 1,482   

 

Profit Sharing and 401(k) Plans — the Company maintains profit sharing and 401(k) plans for employees of Riviera Las Vegas and Riviera Black Hawk who are at least 21 years of age and who are not covered by a collective bargaining agreement; employees are eligible to participate in these plans after 90 days of service.

 

Effective January 1, 2009, the Company suspended the Company match to the 401(k) plan. As a result, the Company made no matching contributions for the Successor Period, Predecessor Period or for the year ended December 31, 2010.