Employee Benefit Plan

12 Months Ended

Jan. 02, 2021

Employee Benefit Plan

Employee Benefit Plan

16. Employee Benefit Plan

The Company maintains a defined contribution or 401(k) Plan for its qualified U.S. employees. Participants may contribute a percentage of their compensation on a pre-tax basis, subject to a maximum annual contribution imposed by the Internal Revenue Code. The Company may make discretionary matching contributions as well as discretionary profit-sharing contributions to the 401(k) Plan. The Company contributed $4.2 million, $3.9 million and $3.7 million to the 401(k) Plan during fiscal 2020, 2019 and 2018, respectively.