Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 2649

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 2649
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 Local Union No. 158 Pension Plan2365803230011.1 1.2 1.5 Varies through 5/31/2027Green12/31/2023(a)Green12/31/2022(a)NANoEmployer - Teamsters Local Nos. 175 & 505 Pension Trust Fund5560218500010.9 1.8 0.5 5/31/2026Red12/31/2023—Red12/31/2022(b)ImplementedNoIBEW Local 769 Management Pension Plan A8660497630010.5 4.0 0.6 Varies through 8/4/2026Green6/30/2023(a)Green6/30/2022(a)NANoOther funds23.6 23.7 24.0 Total multiemployer pension plan contributions$108.6 $118.4 $89.0 (a)The Company’s contributions to this plan represent greater than 5% of the plan’s total contributions.(b)This plan has utilized extended amortization provisions, which provide plans with extensions of time to amortize pension funding shortfalls.

85

The number of union employees employed at a given time, and the plans in which they participate, vary depending upon the location and number of ongoing projects and the need for union resources in connection with those projects.  Total contributions to multiemployer plans and the related number of employees covered by these plans for the periods indicated were as follows: Multiemployer PlansCovered EmployeesContributions (in millions)For the Years Ended December 31:LowHighPensionOther MultiemployerTotal20246,960 9,448 $108.6 $41.8 $150.4 20236,806 11,025 $118.4 $59.1 $177.5 20226,601 7,136 $89.0 $56.3 $145.3 The fluctuations in the number of employees covered under multiemployer plans and associated contributions in the table above related primarily to the timing of activity for the Company’s union resource-based projects, as well as the effects of the Company’s acquisitions.  For the year ended December 31, 2024, multiemployer plan activity was driven primarily by project work within the Company’s Power Delivery and Pipeline Infrastructure operations, whereas for the year ended December 31, 2023,