The Company sponsors a 401(k)-profit sharing plan (the “Plan”) for all eligible U.S. employees. This Plan allows eligible employees to contribute up to 80% of their compensation to the Plan. The Company makes discretionary matching contributions to the Plan provided the employee is employed on the last day of the year. Such discretionary contributions vest ratably over five years of service. The Company’s contributions to the Plan were $1.6 million, $1.3 million and $1.1 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The Company also participates in government-mandated retirement and/or termination indemnity plans, benefiting certain non-U.S. employees. Termination benefits are generally lump sum payments based upon an individual’s years of credited service and annual salary at retirement. These plans are generally unfunded, and employees receive payments at the time of retirement or termination under applicable labor laws or agreements. The amount of net benefit cost recorded in the consolidated statements of operations for these plans was $1.8 million, $1.2 million and $1.2 million in 2019, 2018 and 2017, respectively. The amount of benefits paid under these plans was $0.4 million, $0.4 million and $0.2 million in 2019, 2018 and 2017, respectively. The accumulated benefit obligation, unlike the projected benefit obligation, does not reflect expected benefit increases from future salary levels, and was $6.8 million and $6.0 million at December 31, 2019 and 2018, respectively, under these plans. The projected benefit obligation, net of plan assets of $0.9 million, was $11.0 million and $9.6 million at December 31, 2019 and 2018, respectively.

A summary of the components of the pension benefits obligation recorded in the consolidated balance sheets are as follows (in thousands):

	December 31,
	2019		2018
Accrued compensation and benefits	$	596	$	513
Other long-term liabilities		10,379		9,111
	$	10,975	$	9,624

The estimated future benefit payments, which reflect expected future service, that are expected to be paid for each of the next five years are as follows (in thousands):

Year ending
December 31, 2020	$	617
December 31, 2021	$	292
December 31, 2022	$	347
December 31, 2023	$	519
December 31, 2024	$	431
Next five years	$	2,991