XML 51 R15.htm IDEA: XBRL DOCUMENT v2.4.1.9
Profit Sharing Plan
3 Months Ended
Mar. 31, 2015
Compensation Related Costs [Abstract]  
Profit Sharing Plan

NOTE 10 – PROFIT SHARING PLAN

 

The company maintains a contributory profit sharing plan covering substantially all fulltime employees within the requirements of the Employee Retirement Income Security Act of 1974 (ERISA). The company is required to make a safe harbor non-elective contribution equal to 3 percent of a participant’s compensation. The plan also includes a 401(k) savings plan feature that allows substantially all employees to make voluntary contributions and provides for discretionary matching contributions determined annually by the Board of Directors. Company safe harbor contributions were $98,066 for 2014.

 

The BCS subsidiary also has a Safe Harbor plan within the requirements of ERISA that provides matching contributions equal to 100% of the employee deferred contribution up to 3% of the compensation, plus 50% of the deferred contributions that exceed 3% up to 5% of total participant compensation. The BCS matching contributions for the three months ending March 31, 2015 were $15,784.