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EMPLOYEE BENEFIT PLANS
 9 Months Ended
Oct. 01, 2016
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE BENEFIT PLANS

NOTE 5 - 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 $2.5 million for the three and nine months ended October 1, 2016, respectively, and $0.7 million and $2.5 million for the three and nine months ended September 26, 2015, respectively. The Company plans to contribute approximately $0.8 million to the plan in matching employee contributions during the remainder of 2016.

 

In addition, the Company provided supplemental discretionary contributions to the 401(k) plan totaling $1.4 million and $4.5 million for the three and nine months ended October 1, 2016, respectively, and $1.3 million and $3.7 million for the three and nine months ended September 26, 2015, respectively. The Company plans to contribute approximately $1.4 million in supplemental contributions to the plan during the remainder of 2016.