EMPLOYEE BENEFIT PLANS	12 Months Ended
Dec. 31, 2022
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	17. EMPLOYEE BENEFIT PLANS Eligible U.S. employees, which includes employees of Cboe Digital, as of the acquisition date, are eligible to participate in the Cboe Options SMART Plan (“SMART Plan”). The SMART Plan is a defined contribution plan, which is qualified under Internal Revenue Code Section 401(k). In addition, eligible employees may participate in the Supplemental Employee Retirement Plan, Executive Retirement Plan and Deferred Compensation Plan. Effective January 1, 2017, the Executive Retirement Plan is closed to new executive officers and employees. Each plan is a defined contribution plan that is non-qualified under the Internal Revenue Code. The Deferred Compensation Plan assets, held in a trust, are subject to the claims of general creditors of the Company and totaled $27.5 million at December 31, 2022. Although the value of the plan is recorded in financial investments on the consolidated balance sheets, there is an equal and offsetting liability in other non-current liabilities. The investment results of these plans have no impact on net income as the investment results are recorded in equal amounts to both other expense, net and compensation and benefits expense in the consolidated statements of income. The Company contributed $14.4 million, $11.8 million, and $10.5 million to the defined contribution plans for the years ended December 31, 2022, 2021, and 2020, respectively. Eligible employees outside of the U.S., which includes employees of Cboe Europe, Cboe NL, Cboe Clear Europe, MATCHNow, BIDS, Cboe Asia Pacific, and NEO, as of the respective acquisition dates, are eligible to participate in various employee-selected stakeholder contribution plans or plans covered by local jurisdictions or by applicable laws. The Company’s contribution amounted to $3.0 million, $2.3 million, and $1.6 million for the years ended December 31, 2022, 2021, and 2020, respectively. This expense is included in compensation and benefits in the consolidated statements of income. Prior to the end of 2022, the Company’s Board of Directors approved cash and equity deferred compensation plans for Directors, that will be maintained by the Company, in which eligible Directors may, starting January 1, 2023, contribute a percentage of their cash and equity compensation and defer income taxes thereon.

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2022

17. EMPLOYEE BENEFIT PLANS

Eligible U.S. employees, which includes employees of Cboe Digital, as of the acquisition date, are eligible to participate in the Cboe Options SMART Plan (“SMART Plan”). The SMART Plan is a defined contribution plan, which is qualified under Internal Revenue Code Section 401(k). In addition, eligible employees may participate in the Supplemental Employee Retirement Plan, Executive Retirement Plan and Deferred Compensation Plan. Effective January 1, 2017, the Executive Retirement Plan is closed to new executive officers and employees. Each plan is a defined contribution plan that is non-qualified under the Internal Revenue Code. The Deferred Compensation Plan assets, held in a trust, are subject to the claims of general creditors of the Company and totaled $27.5 million at December 31, 2022. Although the value of the plan is recorded in financial investments on the consolidated balance sheets, there is an equal and offsetting liability in other non-current liabilities. The investment results of these plans have no impact on net income as the investment results are recorded in equal amounts to both other expense, net and compensation and benefits expense in the consolidated statements of income. The Company contributed $14.4 million, $11.8 million, and $10.5 million to the defined contribution plans for the years ended December 31, 2022, 2021, and 2020, respectively.

Eligible employees outside of the U.S., which includes employees of Cboe Europe, Cboe NL, Cboe Clear Europe, MATCHNow, BIDS, Cboe Asia Pacific, and NEO, as of the respective acquisition dates, are eligible to participate in various employee-selected stakeholder contribution plans or plans covered by local jurisdictions or by applicable laws. The Company’s contribution amounted to $3.0 million, $2.3 million, and $1.6 million for the years ended December 31, 2022, 2021, and 2020, respectively. This expense is included in compensation and benefits in the consolidated statements of income.

Prior to the end of 2022, the Company’s Board of Directors approved cash and equity deferred compensation plans for Directors, that will be maintained by the Company, in which eligible Directors may, starting January 1, 2023, contribute a percentage of their cash and equity compensation and defer income taxes thereon.