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Employee Benefits | 12 Months Ended
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Dec. 31, 2014
Employee Benefits [Abstract] |
Employee Benefits | (6) Employee Benefits We have no defined benefit pension plans or any post-retirement benefit plans. We offer our employees a 401(k) Plan, where we match 100% of the first 4% that an employee contributes, a bonus plan based on meeting certain production levels and a discretionary Deferred Bonus Plan for certain key employees. We also offer health benefits to all employees and their families. We have 3,063 participants in our employee health plan. The plan does not cover dental, vision, short-term or long-term disability. These coverages are available on a voluntary basis. We bear some of the risk of our employee health plans. Our health claims are capped at $110,000 per person with a maximum annual exposure of $15 million not including premiums. Our 2014 expense for the 401(k) matching was $815,000 and our expense for health benefits was $8.1 million. Our 2013 expense for the 401(k) matching was $700,000 and our expense for health benefits was $4.1 million. The 2014 expense for the Deferred Bonus Plan was $406,000 and the 2013 expense was $467,000. The expense for the production bonus plan was $373,000 for 2014 and $582,000 for 2013. Our mine employees are also covered by workers’ compensation and such costs for 2014 and 2013 were about $2.8 million and $1.3 million, respectively. Workers’ compensation is a no-fault system by which individuals who sustain work related injuries or occupational diseases are compensated. Benefits and coverage are mandated by each state which includes disability ratings, medical claims, rehabilitation services, and death and survivor benefits. Our operations are protected from these perils through insurance policies. Our maximum annual exposure is limited to $1 million per occurrence with a $4 million aggregate deductible. Based on discussions and representations from our insurance carrier we believe that our reserve for our workers’ compensation benefits is adequate. We have a safety conscious workforce and our worker’s compensation injuries have been minimal.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
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- Details
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