Employee 401(k) Plan

12 Months Ended

Dec. 31, 2018

Employee 401(k) Plan

Employee 401(k) Plan

13. Employee 401(k) Plan

The Company adopted The Willis 401(k) Plan (the “401(k) Plan”) effective as of January 1997. The 401(k) Plan provides for deferred compensation as described in Section 401(k) of the Internal Revenue Code. The 401(k) Plan is a contributory plan available to all full-time and part-time employees in the United States. In 2018, employees who participated in the 401(k) Plan could elect to defer and contribute to the 401(k) Plan up to 75% of pretax salary or wages up to $18,500 (or $24,500 for employees at least 50 years of age). The Company matches 50% of employee contributions up to 8% of the employee’s salary and capped at $12,250, which totaled $0.3 million, $0.4 million, and $0.4 million for the years ended December, 31, 2018, 2017, and 2016, respectively.