Albertsons 2015 Annual Report Download - page 89

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Post-Employment Benefits
The Company recognizes an obligation for benefits provided to former or inactive employees. The Company is self-insured for
certain disability plan programs, which comprise the primary benefits paid to inactive employees prior to retirement.
Amounts recognized in the Consolidated Balance Sheets consisted of the following:
Post-Employment Benefits
2015 2014
Accrued vacation, compensation and benefits $ 8 $ 9
Other long-term liabilities 10 15
Total $ 18 $ 24
Multiemployer Plans
The Company contributes to various multiemployer pension plans under collective bargaining agreements, primarily defined
benefit pension plans. These multiemployer plans generally provide retirement benefits to participants based on their service to
contributing employers. The benefits are paid from assets held in trust for that purpose. Plan trustees typically are responsible
for determining the level of benefits to be provided to participants as well as the investment of the assets and plan
administration. Trustees are appointed in equal number by employers and the unions that are parties to the collective bargaining
agreement.
Expense is recognized in connection with these plans as contributions are funded, in accordance with U.S. generally accepted
accounting standards. The Company contributed $39, $39 and $38 to these plans for fiscal years 2015, 2014 and 2013,
respectively. The risks of participating in these multiemployer plans are different from the risks associated with single-employer
plans in the following respects:
a. Assets contributed to the multiemployer plan by one employer are held in trust and may be used to provide benefits to
employees of other participating employers.
b. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the
remaining participating employers.
c. If the Company chooses to stop participating in some multiemployer plans, or makes market exits or store closures or
otherwise has participation in the plan drop below certain levels, 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 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. Unless otherwise noted, the most
recent Pension Protection Act (“PPA”) zone status available in 2015 and 2014 relates to the plans’ two most recent fiscal year-
ends. The zone status is based on information that the Company received from the plan and is certified by each plan’s actuary.
Among other factors, red zone status plans are generally less than 65 percent funded and are considered in critical status, plans
in yellow zone or orange zone status are less than 80 percent funded and are considered in endangered or seriously endangered
status, and green zone plans are at least 80 percent funded. The FIP/RP Status Pending/Implemented column indicates plans for
which a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented by the
trustees of each plan.
Certain plans have been aggregated in the All Other Multiemployer Pension Plans line in the following table, as the
contributions to each of these plans are not individually material. None of the Company’s collective bargaining agreements
require that a minimum contribution be made to these plans. Multiemployer pension plan contributions and participants were
generally comparable for fiscal 2015, 2014 and 2013.
At the date the financial statements were issued, Forms 5500 were generally not available for the plan years ending in 2014.