Employee Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2017

The following table presents the changes in the plan’s projected benefit obligation, fair value of plan assets, and funded status for the years ended December 31 (in thousands):



	2017			2016
Projected benefit obligation at January 1	$	1,377		$	1,685
Interest cost	46			59
Actuarial losses (gains)	7			5
Benefits paid	(360		)	(372		)
Projected benefit obligation at December 31	1,070			1,377
Fair value of plan assets	—			—
Under funded status	(1,070		)	(1,377		)
Unamortized prior service cost	2			4
Unrecognized actuarial gain	(173		)	(200		)
Net amount recognized	$	(1,241	)	$	(1,573	)

Schedule of Defined Benefit Plan, Amounts Recognized in Consolidated Financial Statements

Amounts recognized in the consolidated financial statements consisted of (in thousands):



	2017		2016
Accrued pension liability:
Current portion	$	327	$	360
Long term portion	743		1,016
Pre-tax accumulated other comprehensive income – retirement benefit liability adjustment	171		197
Net amount recognized	$	1,241	$	1,573

Components of Net Periodic Pension and Other Post-Retirement Benefit Costs Charged to Expense

Components of net periodic pension cost for the years ended December 31 were as follows (in thousands):



	2017			2016			2015
Interest cost	$	46		$	59		$	66
Amortization of unrecognized prior service cost	2			6			14
Gain amortization	(19		)	(13		)	—
Net periodic pension cost	$	29		$	52		$	80
Assumptions used to calculate the benefit obligation:
Discount rate	3.55		%	3.81		%	3.94		%

Schedule of Expected Benefit Payments

Expected benefit payments from the plan for the years ended December 31 are as follows (in thousands):



	2018		2019		2020		2021		2022		2023 - 2027
Expected benefit payments	$	327	$	228	$	137	$	100	$	100	$	292

Schedule of Multiemployer Plans

The Company’s participation in these plans for the year ended December 31, 2017 is outlined in the table below. The “EIN/ Pension Plan Number” column provides the Employee Identification Number (EIN) and three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act (PPA) zone status available in 2017 and 2016 is for the plan’s year ended December 31, 2016 and 2015, respectively. The zone status is based on information that the Company received from the plans and is certified by the plans’ actuaries. 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.



	EIN/ Pension	PPA Zone Status		Surcharge
Pension Fund	Plan Number	2016	2015	Imposed
National Integrated Group Pension Plan	22-6190618-001	Red	Red	Yes
Sheet Metal Workers’ National Pension Plan	52-6112463-001	Yellow	Yellow	Yes
Sheet Metal Workers’ Pension Plan of Northern California	51-6115939-001	Red	Red	Yes

Schedule of Contributions Made by the Company to Each Multiemployer Plan

The table below sets forth the contributions made by the Company to each multiemployer plan for the years ended December 31 (in thousands):



Pension Fund	2017		2016		2015
National Integrated Group Pension Plan	$	220	$	218	$	246
Sheet Metal Workers’ National Pension Plan	42		50		56
Sheet Metal Workers’ Pension Plan of Northern California	30		28		31
	$	292	$	296	$	333

Schedule of Total Expense for All Retirement Plans

Total expense for all retirement plans for the years ended December 31 was (in thousands):



2017		2016		2015
$	3,044	$	2,887	$	2,934