Hertz 2015 Annual Report Download - page 127

Table of Contents
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
a) Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.
b) If a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating
employers.
c) If the Company ceases to have an obligation to contribute to the multiemployer plan in which the Company had been a contributing employer,
the Company may be required to pay to the plan an amount based on the underfunded status of the plan and on the history of its participation
in the plan prior to the cessation of its obligation to contribute. The amount that an employer that has ceased to have an obligation to
contribute to a multiemployer plan is required to pay to the plan is referred to as a withdrawal liability.
The Company's participation in multiemployer plans for the annual period ended December 31, 2015 is outlined in the table below. For each plan
that is individually significant to the Company, the following information is provided:
The “EIN / Pension Plan Number” column provides the Employer Identification Number and the three-digit plan number assigned to a plan by the
Internal Revenue Service. The most recent Pension Protection Act Zone Status available is for plan year that ended in 2014. The zone status is
based on information provided to the Company and other participating employers by each plan and is certified by the plan's actuary. A plan in the
“red” zone has been determined to be in “critical status”, based on criteria established under the Internal Revenue Code (the “Code”) and is
generally less than 65% funded. A plan in the “yellow” zone has been determined to be in “endangered status”, based on criteria established under
the Code, and is generally less than 80% funded. A plan in the “green” zone has been determined to be neither in “critical status” nor in
“endangered status,” and is generally at least 80% funded.
The “FIP/RP Status Pending/Implemented” column indicates whether a Funding Improvement Plan, as required under the Code to be adopted by
plans in the “yellow” zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been
implemented as of the end of the plan year that ended in 2015.
The “Surcharge Imposed” column indicates whether the Company's contribution rate for 2015 included an amount in addition the contribution rate
specified in the applicable collective bargaining agreement, as imposed by a plan in “critical status,” in accordance with the requirements of the
Code. The last column lists the expiration dates of the collective bargaining agreements pursuant to which the Company contributed to the plans.
For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate.
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








 
 
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Western Conference of
Teamsters 91-6145047
Green
Green
NA
$ 6
$ 6
$ 4
N/A
1/31/2014* -
10/1/2017
Other Plans*
6
4
4
Total Contributions
$ 12
$ 10
$ 8
N/A Not applicable
* Included in the Other Plans are contributions to the Local 1034 Pension Fund. The amount contributed by Hertz to the Local 1034 Pension Fund was reported as
being more than 5% of total contributions to the plan, on the fund's Form 5500 for the year ended December 31, 2014.
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