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Benefit Plans
12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Benefit Plans

12. Benefit Plans

The Company’s 401(k) plan covers all of the U.S. employees beginning the first of the month following the first month of their employment. Under this plan, employees may elect to contribute up to 15% of their current compensation to the 401(k) plan up to the statutorily prescribed annual limit. The Company matches 100% of the employee’s elective deferrals up to 4% of their compensation. The Company may make discretionary contributions to the 401(k) plan but there were no discretionary contributions during the years ended December 31, 2022 or 2021. The Company also contributes to various defined contribution retirement plans for foreign employees. Contributions for foreign employees in China decreased for the year ended December 31, 2022 due to the reduction in headcount related to restructuring for Tianjin manufacturing and the Beijing office. Contributions for foreign employees in Sweden increased for the year ended December 31, 2022 because contributions for Smarteq employees commenced in May 2021.

The Company’s contributions to retirement plans were as follows:

 

 

 

Years ended December 31,

 

 

 

2022

 

 

2021

 

PCTEL, Inc. 401(k) plan - US employees

 

$

772

 

 

$

725

 

Defined contribution plans - China employees

 

 

75

 

 

 

303

 

Defined contribution plans - Sweden employees

 

 

132

 

 

 

101

 

Defined contribution plans - Other foreign employees

 

 

31

 

 

 

27

 

Total

 

$

1,010

 

 

$

1,156