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Post Employment Benefit Plans
9 Months Ended
Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]  
Post Employment Benefit Plans
POST EMPLOYMENT BENEFIT PLANS
Vectrus sponsors one defined contribution savings plan, which allows employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. The plan requires us to match a percentage of the employee contributions up to certain limits, generally 2%-6% of employee base pay. Our portion of the matching contributions charged to income amounted to $1 million for both the three months ended September 30, 2014 and 2013. Our portion of the matching contributions charged to income amounted to $2 million and $3 million for the nine months ended September 30, 2014 and 2013, respectively.
On September 11, 2014, the Board adopted and approved the Vectrus Systems Corporation Excess Savings Plan (the "Excess Savings Plan"). Since federal law limits the amount of compensation that can be used to determine employee and employer contribution amounts to the Company's tax-qualified plans, the Company established a non-qualified Excess Savings Plan to allow for Company contributions based on an eligible employee's base salary in excess of these limits. No employee contributions are permitted. All balances under the Excess Savings Plan are maintained on the books of the Company and credits and deductions are made to the accumulated savings under the plan based on the earnings or losses attributable to a stable value fund as defined in the Excess Savings Plan. Benefits will be paid in a lump sum generally in the seventh month following the date on which the employee's separation from service occurs. Employees are 100% vested at all times in any amounts credited to their accounts. No contributions were accrued by the Company as of September 30, 2014.