AutoNation 2015 Annual Report Download - page 94
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Table of Contents
One of the multiemployer pension plans in which we participate is designated as being in “red zone” status, as defined by the Pension Protection Act
(PPA) of 2006. Our participation in this plan for the year ended December 31, 2015, is outlined in the table below. The “EIN/Pension Plan Number” column
provides the Employer Identification Number (EIN) and the three-digit plan number. The most recent PPA zone status available in 2015 and 2014 is for the
plan’s year end at December 31, 2014, and December 31, 2013, respectively. The zone status is based on information that we 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 percent funded. The last column lists the expiration date
of the collective-bargaining agreements to which the plan is subject. A rehabilitation plan has been implemented for this plan. There have been no significant
changes that affect the comparability of 2015, 2014, and 2013 contributions.
Automotive Industries Pension Plan
94-1133245 - 001
Red
Red
$ 1.0
$ 0.8
$ 0.7
Yes
(2)
Other funds
0.4
0.3
0.4
Total contributions
$ 1.4
$ 1.1
$ 1.1
(1) Our stores were not listed in the Automotive Industries Pension Plan’s Form 5500 as providing more than 5% of the total contributions for the plan
years ended December 31, 2014 or 2013.
(2) We are party to two collective-bargaining agreements that require contributions to the Automotive Industries Pension Plan. One expired May 31,
2011, and one expired June 30, 2011, and both are currently extended during collective bargaining for new agreements.
In the event that we cease participating in this plan, we could be assessed a withdrawal liability. We currently do not have any plans that would trigger the
withdrawal liability under this multiemployer pension plan.
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