Quarterly report pursuant to Section 13 or 15(d)

Multi-Employer and Defined Benefit Pension Plans

v3.20.1
Multi-Employer and Defined Benefit Pension Plans
3 Months Ended
Mar. 31, 2020
Retirement Benefits [Abstract]  
Multi-Employer and Defined Benefit Pension Plans
12. MULTI-EMPLOYER AND DEFINED BENEFIT PENSION PLANS
During the three months ended March 31, 2020, the Company received notification from the AMOPP that the Company’s withdrawal liability as of September 30, 2019, the latest period for which an actuarial valuation is available, would have been $25.5 million. That liability may change in future years based on various factors, primarily employee census. As of March 31, 2020, the Company has no intention to withdraw from the AMOPP and no deficit amounts have been invoiced. Depending upon the results of the future actuarial valuations, it is possible that the AMOPP will experience further funding deficits, requiring the Company to recognize additional payroll related operating expenses in the periods invoices are received or contribution levels are increased.