Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Retirement Plan

v3.6.0.2
Retirement Plan
12 Months Ended
Dec. 31, 2016
Compensation And Retirement Disclosure [Abstract]  
Retirement Plan

Note N – Retirement Plan

We maintain a defined-contribution 401(k) retirement plan covering substantially all employees (as defined). Our employees may make voluntary contributions to the plan, subject to limitations based on IRS regulations and compensation. In addition, we match any employees’ contributions at the rate of 75% of every dollar contributed up to 4% of the respective employee’s salary (3% maximum Company match). Effective, January 1, 2017 this benefit will increase to 100% of every dollar contributed up to 3% of the respective employee’s compensation and an additional 50% of every dollar contributed on the next 2% of compensation (4% maximum Company match).  We made matching contributions of approximately $1,660,000, $493,000 and $358,000 during the years ended December 31, 2016, 2015 and 2014, respectively.