Employee Benefit Plans

12 Months Ended

Dec. 31, 2014

18. Employee Benefit Plans

The table below outlines the terms of the Security Plus 401(k) Plan and the associated employer costs (dollars in thousands):



		For the Years Ended December 31,
		2014	2013	2012
Employee salary contribution Limit (1)	$	17.5	17.5	17.0
Percentage of salary limitation	%	75	75	75
Total match contribution (2)	$	150	-	-

(1)

For the years ended December 31, 2014, 2013 and 2012 employees over 50 were entitled to contribute $23,000, $23,000 and $22,500, respectively.

(2)

The employer match vests immediately. The Company did not offer an employer match for the years ended December 31, 2013 and 2012.

Included in the gain on the sale of BankAtlantic in discontinued operations in the Company’s Statement of Operations during the year ended December 31, 2012 was $22.4 million of pension losses associated with the under-funded pension plan amount and the unrecognized net losses from pension investments. The obligations for BankAtlantic’s defined benefit plan were assumed by BB&T.