XML 27 R17.htm IDEA: XBRL DOCUMENT v3.22.1
RETIREMENT PLANS
 3 Months Ended
Mar. 31, 2022
Retirement Benefits [Abstract]  
RETIREMENT PLANS RETIREMENT PLANS
Defined Contribution Plan
The Company has a 401(k) profit sharing plan for all full-time employees who have attained the age of 21 and completed 90 days of service. The Company matches 100% of the first 1% and then 50% of the next 5% of employee
contributions. Retirement plan expense for the three months ended March 31, 2022 and 2021 was approximately $428 and $303, respectively.
Deferred Compensation Plan
The Company had a self-administered deferred compensation plan that accrues a liability for the benefit of certain employees equal to 0.25% of the year-over-year change in Earnings Before Interest Depreciation “EBITDA” that began in 2014. The Company made an initial contribution of $150 with additional contributions of $0 for the three months ended March 31, 2022 and 2021. The total liability was $242 at March 31, 2022 and December 31, 2021 and was recorded in liabilities on the consolidated balance sheet. Contributions to the Plan vest over a seven year period according to the following vesting schedule: Year 1 – 0.0%, Year 2 – 5.0%, Year 3 – 15.0%, Year 4 – 20.0%, Year 5 – 30.0%, Year 6 – 50.0%, Year 7 – 100%. Since plan inception $1,413 has vested