Sysco 2013 Annual Report Download - page 81

SYSCO CORPORATION-Form10-K70
PARTII
ITEM8Financial Statements and Supplementary Data
Individually Signifi cant Plans
The information in the following tables relates to multiemployer de ned bene t pension plans which Sysco has determined to be individually signi cant to the
company. To determine individually signi cant plans, the company evaluated several factors, including Sysco’s signi cance to the plan in terms of employees
and contributions, the funded status of the plan and the size of company’s potential withdrawal liability if it were to voluntarily withdraw from the plan.
The following table provides information about the funded status of individually signi cant plans:
•The “EIN-PN” column provides the Employer Identi cation Number (EIN) and the three-digit plan number (PN).
•
The “Pension Protection Act Zone Status” columns provide the two most recent Pension Protection Act zone statuses available from each plan. The
zone status is based on information that the company received from the plan’s administrators and is certi ed by each plan’s actuary. Among other
factors, plans in the red zone are generally less than 65% funded, plans in the orange zone are both less than 80% funded and have an accumulated
funding de ciency or are expected to have a de ciency in any of the next six plan years, plans in the yellow zone are less than 80% funded and plans
in the green zone are at least 80% funded.
•
The “FIP/RP Status” column indicates whether a  nancial improvement plan (FIP) for yellow/orange zone plans or a rehabilitation plan (RP) for red zone plans
is pending or implemented in the current year or was put in place in a prior year. A status of “Pending” indicates a FIP/RP has been approved but actual
period covered by the FIP/RP has not begun. A status of “Implemented” means the period covered by the FIP/RP began in the current year or is ongoing.
• The “Surcharge Imposed” column indicates whether a surcharge was paid during the most recent annual period presented for the company’s contributions
to each plan in the red zone. If the company’s current collective bargaining agreement (CBA) with a plan satis es the requirements of a pending but
not yet implemented RP, then the payment of surcharges is not required and “No” will be re ected in this column. If the company’s current collective
bargaining agreement (CBA) with a plan does not yet satisfy the requirements of a pending but not yet implemented RP, then the payment of surcharges
is required and “Yes” will be re ected in this column.
Pension Fund EIN-PN
Pension Protection Act Zone
Status
FIP/RP Status Surcharge Imposed
Expiration
Date(s) of
CBA(s)As of 12/31/13 As of 12/31/12
Western Conference of Teamsters
PensionPlan
91-6145047-001 Green Green N/A N/A 9/28/13 to
2/15/19
(1)
Teamsters Pension Trust Fund ofPhiladelphia
and Vicinity
23-1511735-001 Yellow Yellow Implemented N/A 7/19/13 to
7/31/16
(2)
NewYork State Teamsters Conference
Pension and Retirement Fund
16-6063585-074 Red Red Implemented No 4/30/14
Truck Drivers and Helpers Local Union
No. 355 Retirement Pension Fund
52-6043608-001 Yellow Yellow Pending N/A 3/1/15
Minneapolis Food Distributing Industry
Pension Plan
41-6047047-001 Green Yellow Implemented N/A 8/10/13
(1) Sysco is party to 23 CBAs that require contributions to the Western Conference of Teamsters Pension Trust. Each agreement c overs anywhere from less than 1% to 11% of the total
contributions Sysco is required to pay the fund.
(2) Sysco is party to three CBAs that require contributions to the Teamsters Pension Trust Fund of Philadelphia and Vicinity. One agreement expires July19,2013 and covers approximately 50%
of the total contributions Sysco is required to pay the fund. The remaining two agreements expire July31,2016 and cover the remaining 50% of the total contributions Sysco is required to
pay the fund.
The following table provides information about the company’s contributions to individually signi cant plans:
•The “Sysco Contributions” columns provide contribution amounts based on Sysco’s  scal years, which may not coincide with the plans’  scal years.
•
The “Sysco 5% of Total Plan Contributions” columns indicate whether Sysco was listed in the plan’s most recently  led Form5500s as providing more
than  ve percent of the total contributions to the plan, and the plan year-end is noted. As of the date these  nancial statements were  led with the SEC,
Form5500s were not available for plan years ending December31,2012.
Pension Fund
(Inthousands)
Sysco Contributions Sysco 5% of Total Plan Contributions
2013 2012 2011 Year Ending 12/31/11 Year Ending 12/31/10
Western Conference of Teamsters Pension Plan $ 20,561 $ 19,829 $ 19,490 No No
Teamsters Pension Trust Fund of Philadelphia and Vicinity 2,256 2,227 2,009 No No
NewYork State Teamsters Conference Pension and
Retirement Fund
1,399 1,395 1,366 No No
Truck Drivers and Helpers Local Union No. 355
Retirement Pension Fund
1,624 1,490 1,358 Yes Yes
Minneapolis Food Distributing Industry Pension Plan 2,976 4,556 2,973 Yes Yes
For all of the plans noted in the table above, minimum contributions outside of the agreed upon contractual rate are not required.