Note 11 - Employee Benefit Plans

12 Months Ended

Jan. 31, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

1

1

. EMPLOYEE BENEFIT PLANS

The Company has a defined contribution

401

(k) plan which is available to U.S. employees after

30

days of employment. Employees

may

contribute up to the maximum allowable by the Internal Revenue Code. The Company voluntarily matches

75%

of the employees’ contributions up to the

first

four

percent of the employee’s eligible compensation. In addition, the Company can make additional contributions at the discretion of the board of directors. Participants are immediately vested in their employee contributions. Employer contributions vest

25%

per year over

four

years. The Company’s contributions for fiscal years

2020,

2019

and

2018

were

$2.1

million,

$2.2

million and

$2.2

million, respectively.

Various QAD foreign subsidiaries also contribute to defined contribution pension plans. Employer contributions in these plans are generally based on employee salary and range from

2%

to

20%.

These plans are funded at various times throughout the year according to plan provisions, with aggregate employer contributions of

$4.7

million for fiscal

2020,

$5.3

million for fiscal

2019

and

$4.4

million for fiscal

2018.