PENSION AND POST RETIREMENT BENEFIT PLAN
|3 Months Ended|
Mar. 31, 2020
|Retirement Benefits [Abstract]|
|PENSION AND POST RETIREMENT BENEFIT PLAN||
During September 2019, the Company settled its fully-funded pension plan. At December 31, 2019, $21.6 million of pension assets remained available to fund other employee benefits. The Company used $5.9 million to fund its 401(k)-match obligation during the quarter ended March 31, 2020, and plans to continue funding future benefit plan obligations, with a possible reversion of any remaining pension assets to the Company per ERISA regulations. As of March 31, 2020, the Company had approximately $15.6 million remaining of benefit plan assets.
ROLLINS, INC. AND SUBSIDIARIES
Components of Net Pension Benefit Loss/(Gain)
During the three months ended March 31, 2020, and the same period in 2019, the Company made no contributions to its defined benefit retirement plans (the “Plans”). The Company made no contributions for the year ended December 31, 2019.
The entire disclosure for pension and other postretirement benefits.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef