Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 57

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 57
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2, we completely withdrew from the United Food & Commercial Workers - Local One Pension Fund, or the UFCW Pension Fund. As a result of our complete withdrawal from the UFCW Pension Fund, we are required to pay an aggregate withdrawal liability of $2.8 million to the UFCW Pension Fund in quarterly installments through 2042. The risks of participating in multiemployer plans are different from the risks of single-employer plans in the following respects: (i) assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers; (ii) if a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and (iii) if we cease to have an obligation to contribute to the multiemployer plan in which we had been a contributing employer, we may be required to pay to the plan an amount (referred to as a withdrawal liability) based on the underfunded status of the plan and on our historical participation in the plan prior to the cessation of our obligation to contribute.

F-31

SILGAN HOLDINGS INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

Further information on the multiemployer plans we participated in during the years ended December 31, 2024, 2023 and 2022 is as follows:Pension FundEIN/Pension PlanNumberPensionProtectionAct ZoneStatusFIP / RPStatusPending /ImplementedContributionsSurchargeImposed20242023202420232022     (Dollars in thousands) United Food & CommercialWorkers — Local One Pension Fund (1)16-6144007/001Red(2)Red(2)Implemented— — 141 NoIAM National Pension Fund (3)51-6031295/002RedRedImplemented2,624 2,626 2,511 NoWestern Conference of Teamsters Pension Plan (4)91-6145047/001GreenGreenN/A580 1,008 906 NoTotal Contributions$3,204 $3,634 $3,558 ______________________(1)    In 2022, we completely withdrew from this pension fund. (2)    Under the Multiemployer Pension Reform Act of 2014, the status of this pension fund was critical and declining, as defined under such Act. As of January 1