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401(k) PLAN
12 Months Ended
Dec. 31, 2011
Compensation Related Costs [Abstract]  
401(k) PLAN

NOTE 7 – 401(k) PLAN

 

All full-time employees who are over 21 years old and have completed one year of service (as defined) are eligible for the Company’s 401(k) Plan (Plan). Under this Plan, an employee may elect to defer his/her compensation (up to a maximum of $16,500, annually adjusted) and have it contributed to the Plan. Employer contributions to the Plan are at the discretion of the Company. During 2011, 2010 and 2009, the Company made matching contributions to the Plan of up to 100% of the first 3% of employee salary and 50% of the next 2% of employee salary. The total expense relating to the Plan, including matching contributions amounted to $118,454, $95,154 and $87,705 in 2011, 2010 and 2009, respectively.