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401(k) PLAN
12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
401(k) PLAN

NOTE 8 – 401(k) PLAN

 

All full-time employees who are over 21 years old are eligible for the Company’s 401(k) Plan (“Plan”). Under this Plan, an employee may elect to defer his/her compensation, subject to certain maximum amounts, and have it contributed to the Plan. Employer contributions to the Plan are at the discretion of the Company. During 2021, 2020 and 2019, 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 $752,000, $1.1 million and $376,000 in 2021, 2020 and 2019, respectively.