Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 1068

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 1068
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 develop the expected long-term rate of return on assets assumption, we considered the current level of expected returns on various asset classes. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected return on plan assets assumption for the portfolio.
    
   Based upon the assumptions used to measure our qualified pension benefit obligations at  December 31, 2024, we expect that the combined benefits for the pension and the supplemental plan to be paid over the next ten years will be as follows:

       Pension  
 Year ending December 31, (In Thousands)   Benefits  
2025 $4,762 
2026  4,655 
2027  4,552 
2028  4,439 
2029  4,313 
2030 – 2034  19,354 
 Total 10-year estimated future benefit payments  $42,075 

   Defined Contribution Plans
    
   401(k) Savings Contribution 
    
   Upon meeting various citizenship, age and service requirements, employees are eligible to participate in a defined contribution savings plan and can contribute from 2% to 75% of their base salary to an employee benefit trust. Effective  October 31, 2021, we matched, in cash, 50% of the first 6% of eligible compensation deferred by the employee. For the years ended  December 31, 2024, 2023 and 2022, we contributed $0.5 million, $0.4 million and $0.3 million, respectively.
    
   The plan held no shares of Tidewater common stock for the years ended  December 31, 2024 and 2023, respectively.

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   Other Plans 
    
   A non-qualified supplemental savings plan is provided to executive officers who defer additional eligible compensation that cannot be deferred under the existing 401(k) plan due to IRS limitations. An optional company match or contribution of restoration benefits was ceased effective  January 1, 2018.
    
   We also provide retirement benefits to our eligible non-U.S. citizen employees working outside their respective country of origin pursuant to a self-directed multinational defined contribution retirement plan provided the employees were not enrolled in any home country pension or retirement program. Participants could contribute 1% to 50% of their base salary. A company match was ceased prior to  January