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DEFINED CONTRIBUTION PLANS
12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
DEFINED CONTRIBUTION PLANS DEFINED CONTRIBUTION PLANS
The Company has a 401(k) defined contribution plan (the 401(k) Plan), whereby eligible employees may contribute up to 90% of their annual basic earnings, subject to applicable annual Internal Revenue Code limits. Additionally, the 401(k) Plan provides for discretionary matching contributions (as defined in the 401(k) Plan) by the Company. The Company expensed matching contributions to the 401(k) Plan of $2,836, $2,418, and $2,121 during the years ended December 31, 2023, 2022 and 2021, respectively.

The Company has a non-qualified deferred compensation plan (DCP), whereby certain highly compensated employees who are otherwise ineligible to participate in the Company's 401(k) plan, may defer the receipt of a portion of their base compensation and, for certain employees, up to 100% of their eligible bonuses. Additionally, the DCP allows for the employee deferrals to be deposited into a rabbi trust and the funds are generally invested in individual variable life insurance contracts owned by the Company that are specifically designed to fund savings plans of this nature. The Company paid for related administrative costs, which were not significant during fiscal years 2023, 2022 and 2021.
As of the years ended December 31, 2023 and 2022, the Company accrued $49,201 and $33,017, respectively, as long term deferred compensation in other long term liabilities on the consolidated balance sheet. Cash surrender value of the contracts is based on investment funds that shadow the investment allocations specified by participants in the deferred compensation plan. Refer to Note 5, Fair Value Measurements for more information on the funds.
For the years ended December 31, 2023 and 2021, the Company recorded gains related to its DCP of $4,634 and $1,612, respectively, which are included in other income (expense), net, and recorded offsetting expenses of $4,887 and $1,758, respectively, which are allocated between cost of services and general and administrative expenses. For the year ended December 31, 2022, the Company recorded a loss related to its DCP of $4,188, which is included in other income (expense), net, and recorded an offsetting reduction in expense of $4,051, which is allocated between cost of services and general and administrative expenses.