Company: EME
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000105634-25-000015
Chunk: 135

Company: EMCOR Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 135
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 plans in which participation by new individuals is frozen. The aggregate benefit obligation associated with these plans as of December 31, 2024 and 2023 was approximately $6.1 million and $6.3 million, respectively. The estimated fair value of the plan assets as of December 31, 2024 and 2023 was approximately $5.2 million and $5.1 million, respectively. The plan assets are predominantly invested in cash, equity securities, and equity and bond funds, which have quoted market prices in active markets, and as such are considered Level 1 assets within the fair value hierarchy. The net liability associated with these plans as of December 31, 2024 and 2023 is classified as “Other long-term obligations” in the accompanying Consolidated Balance Sheets. The measurement date for these plans is December 31 of each year. The major assumptions used in the actuarial valuations to determine benefit obligations included discount rates of 5.00% as of December 31, 2024, and 4.75% to 5.20% as of December 31, 2023. In addition, key assumptions included an expected rate of return of 7.00% in order to determine net periodic pension (income) cost for both 2024 and 2023. The net periodic pension (income) cost associated with the domestic plans, as well as the reclassification adjustment from accumulated other comprehensive loss to net periodic pension (income) cost, were insignificant for all periods presented. 

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Table of ContentsEMCOR Group, Inc. and SubsidiariesNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 14 - RETIREMENT PLANS (Continued)Defined Contribution Plans We have defined contribution retirement and savings plans that cover eligible employees in the United States. Contributions to these plans are based on a percentage of the employee’s base compensation. The expenses recognized for employer contributions to these plans were approximately $44.0 million for the year ended December 31, 2024, $36.7 million for the year ended December 31, 2023, and $35.0 million for the year ended December 31, 2022. At our discretion and subject to applicable plan documents, we may make additional supplemental matching contributions to one of our defined contribution retirement and savings plans. The expenses recognized related to additional supplemental matching contributions for the years ended December 31, 2024, 2023, and 2022 were