XML 61 R23.htm IDEA: XBRL DOCUMENT v3.20.4
EMPLOYEE BENEFIT PLANS
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS

Heartland sponsors a defined contribution retirement plan covering substantially all employees. The plan includes matching contributions and non-elective contributions. Matching contributions and non-elective contributions are limited to a maximum amount of the participant's wages as defined by federal law.

Heartland's subsidiaries made matching contributions of up to 3% of participants' wages in 2020, 2019, and 2018. Costs charged to operating expenses with respect to the matching contributions were $4.1 million, $3.9 million, and $3.5 million for 2020, 2019 and 2018, respectively.

Non-elective contributions to this plan are subject to approval by the Heartland Board of Directors. The Heartland subsidiaries fund and record as an expense all approved contributions. Costs of these contributions, charged to operating expenses, were $4.8 million, $4.8 million, and $4.0 million for 2020, 2019 and 2018, respectively.
In addition, Heartland has a non-qualified defined contribution plan that allows certain employees to make voluntary contributions into a deferred compensation plan. Any non-elective contributions to this plan are subject to approval by the Heartland Board of Directors.