Employee Benefit Plan

12 Months Ended

Jan. 02, 2021

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plan

12. Employee Benefit Plan

We have a plan known as the Iridex Corporation Profit Sharing/401(k) Plan to provide retirement benefits through the deferred salary deductions for substantially all U.S. employees. Employees may contribute up to 15% of their annual compensation to the plan, limited to a maximum amount set by the Internal Revenue Service. The plan also provides for Company contributions at the discretion of the Company. The Company did not make matching contributions during 2020. In 2019, total matching contributions made by the Company was $219 thousand.