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Defined Contribution Plan
12 Months Ended
Dec. 31, 2020
Defined Contribution Plan  
Defined Contribution Plan

11.         Defined Contribution Plan

We sponsor a defined contribution plan that qualifies under Section 401(k) of the IRC to provide retirement benefits to substantially all of our employees. As allowed under Section 401(k), the plan provides tax-deferred salary deductions for eligible employees. Our matching contributions to the plan for the years ended December 31, 2020, 2019 and 2018 were $5.2 million, $6.0 million and $6.8 million, respectively.

In 2017, in connection with the Pension Plan freeze, the Company amended its 401(k) plan to permit employer discretionary nonelective contributions to eligible participants. For the 2020 plan year, the Company approved a discretionary nonelective contribution in an amount equal to 2% of each participant’s eligible compensation. These contributions, which were expensed during 2020, totaled $2.5 million and will be funded and allocated to participant accounts during the first quarter of 2021. For the 2019 plan year, the Company approved a discretionary nonelective contribution in an amount equal to 2% of each participant’s eligible compensation. These contributions, which were expensed during 2019, totaled $2.6 million and were funded and allocated to participant accounts during the first quarter of 2020.