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RETIREMENT PLAN.
12 Months Ended
Dec. 27, 2014
RETIREMENT PLAN.  
RETIREMENT PLAN.

 

 

 

7.RETIREMENT PLAN.

 

The Company maintains a defined contribution plan which covers substantially all employees of the Company who have reached the age of twenty-one years and have completed thirty days of credited service.  The plan provides that eligible employees can contribute from one to fifteen percent of their annual compensation.  The Company formerly maintained a policy to match thirty percent of each employee’s contributions up to seven percent of the employee’s compensation.  Effective September 1, 2008, however, the Company temporarily suspended this contribution match.  Effective July 30, 2012, the Company reinstated its matching contribution at fifty percent of each employee’s contributions up to four percent of the employee’s compensation. The Board of Directors may increase or decrease the Company’s contribution as business conditions permit. Expense for this plan was $414,739, $427,119 and $184,275 for the years ended December 27, 2014, December 28, 2013 and December 29, 2012, respectively.