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Employee Benefits | 12 Months Ended
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Dec. 29, 2019
Retirement Benefits [Abstract] |
Employee Benefits |
(8) | Employee Benefits
The Company has a retirement savings plan which qualifies under Internal Revenue Code Section 401(k). All employees of the Company who have completed 1,000 hours of service and are at least 18 years of age are eligible to participate in the plan. During 2019, the plan require d the Company to match 100 % of the first 5 % of each employee’s elective deferrals. During 2018 and 2017, the plan required the Company to match 100 % of the first 3 % of each employee’s elective deferrals and 50 % of the next 2 % of each employee’s elective deferrals. During 2019, 2018 and 2017, the Company’s matching contributions were made in the form of cash and vested immediately. The expenses incurred for Company contributions to the plan were approximately $ 10.8 million, $ 7.3 million and $ 6.1 million in 2019, 2018 and 2017, respectively. The Company has established a non-qualified deferred compensation plan available for certain key employees. Under this self-funding plan, the participants may defer up to 40 % of their base salary and up to 80 % of their bonus compensation. The participants direct the investment of their deferred compensation within several investment funds. The Company is not required to contribute and did not contribute to this plan during 2019, 2018 or 2017. The Company has an employee stock payroll deduction plan (the “ESPDP”). Under the ESPDP, eligible employees may deduct up to 15% of their eligible wages to purchase common stock at 85% of the market price of the stock at the purchase date. The ESPDP requires employees to hold their purchased common stock for at least one year. The Company purchases common stock on the open market for the ESPDP at the current market price. There were 20,222 shares, 19,494 shares and 21,744 shares of common stock in 2019, 2018 and 2017, respectively, purchased on the open market for participating employees at a weighted-average price of $257.12 in 2019, $249.57 in 2018 and $188.57 in 2017. The expenses incurred under the ESPDP were approximately $0.8 million, $0.7 million and $0.7 million in 2019, 2018 and 2017, respectively.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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