XML 31 R19.htm IDEA: XBRL DOCUMENT v3.24.1
RETIREMENT PLAN
12 Months Ended
Dec. 31, 2023
Retirement Plan  
RETIREMENT PLAN

11.     RETIREMENT PLAN

 

The Company has a defined contribution 401(k) plan that covers all employees who meet certain age and length of service requirements and allows an employer contribution of up to 50% of the first 3% of each participating employee’s eligible compensation contributed to the plan and 50% of the next two percent of each participating employee’s eligible compensation. Participants are 100% vested in these matching contributions when they are made. Eligible employees may elect to defer pre-tax contributions regulated under Section 401(k) of the Internal Revenue Code. Employer matching expenses were $273,507 and $165,953 for the years ended December 31, 2023 and 2022, respectively.