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Retirement Plan
12 Months Ended
Dec. 28, 2019
Retirement Plan
(7) Retirement Plan
Landstar sponsors an Internal Revenue Code section 401(k) defined contribution plan for the benefit of U.S. domiciled full-time employees who have completed
six months
of service. Eligible employees make voluntary contributions up to 75% of their base salary, subject to certain limitations. Landstar contributes an amount equal to 100% of the first 3% and 50% of the next 2% of such contributions, subject to certain limitations.
The expense for the Company-sponsored defined contribution plan included in selling, general and administrative expense was $2,427,000 in fiscal year 2019, $2,147,000 in fiscal year 2018 and $2,056,000 in fiscal year 2017.