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SYSCO CORPORATION-Form10-K 75
PARTII
ITEM8Financial Statements and Supplementary Data
its share of withdrawal liability for these plans could have been as much as $90.0 million as of June 28, 2014. This estimate excludes plans for which Sysco
has recorded withdrawal liabilities or where the likelihood of the above-mentioned events is deemed remote. This estimate is based on theinformation
available from plan administrators, which had a valuation date of December 31, 2012. As the valuation date for all of these plans was December 31, 2012,
the company’s estimate re ects the condition of the  nancial markets as of that date. Due to the lack of current information, management believes Sysco’s
current share of the withdrawal liability could materially differ from this estimate.
Plan Contributions
Sysco’s contributions to multiemployer de ned bene t pension plans were as follows for each  scal year:
(Inthousands)
2014 2013 2012
Individually signi cant plans $ 30,402 $ 28,816 $ 29,497
All other plans 45,627 36,923 38,611
TOTAL CONTRIBUTIONS $ 76,029 $ 65,739 $ 68,108
Payments for voluntary withdrawals included in contributions were $40.8 million, $31.8 million and $33.6 million in  scal 2014, 2013 and 2012, respectively.
Individually Signi 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 12/31/14 As of 12/31/13
Western Conference of Teamsters
PensionPlan
91-6145047-001 Green Green N/A N/A 4/26/14 to
11/7/20
(1)
Teamsters Pension Trust Fund of Philadelphia
and Vicinity
23-1511735-001 Yellow Yellow Implemented N/A 7/31/16 to
7/20/20
(2)
New York State Teamsters Conference
Pension and Retirement Fund
16-6063585-074 Red Red Implemented No 4/30/17
Truck Drivers and Helpers Local
UnionNo.355 Retirement Pension Fund
52-6043608-001 Yellow Yellow Implemented N/A 3/1/15
Minneapolis Food Distributing Industry
Pension Plan
41-6047047-001 Green Green Implemented N/A 8/8/15
(1) Sysco is party to 23 CBAs that require contributions to the Western Conference of Teamsters Pension Trust. Each agreement covers anywhere from less than 1% to 10% 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 31, 2016 and covers approximately 5%
of the total Contribution Sysco is required to pay the fund. The remaining two agreements expire July 20, 2020 and cover the remaining 95% of the total contributions Sysco is required to
pay the fund.