EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 27, 2020

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 7 — EMPLOYEE BENEFIT PLANS

The Company sponsors a 401(k) plan that covers substantially all employees. The Company matches a certain portion of employee contributions using the safe harbor guidelines contained in the Internal Revenue Code. Expenses related to these matching contributions totaled $0.8 million and $1.7 million for the three and six months ended June 27, 2020, respectively, and $0.7 million and $1.9 million for the three and six months ended June 29, 2019, respectively. The Company plans to contribute approximately $1.9 million to the plan in matching employee contributions during the remainder of 2020.

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In addition, the Company provided supplemental discretionary contributions to the 401(k) plan totaling $1.1 million and $2.6 million for the three and six months ended June 27, 2020, respectively, and $1.1 million and $2.9 million for the three and six months ended June 29, 2019, respectively. The Company plans to contribute approximately $2.9 million in supplemental contributions to the plan during the remainder of 2020.