Employee Benefit Plan

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Employee Benefit Plan

Employee Benefit Plan:

Effective January 1, 1998, NNN adopted a defined contribution retirement plan (the “Retirement Plan”) covering substantially all of the employees of NNN. The Retirement Plan permits participants to defer a portion of their compensation, as defined in the Retirement Plan, subject to limits established by the Code. NNN generally matches 60 percent of the first eight percent of a participant’s contributions. Additionally, NNN may make discretionary contributions. NNN’s contributions to the Retirement Plan for the years ended December 31, 2019, 2018 and 2017 totaled $541,000, $516,000 and $514,000, respectively.