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EMPLOYEE BENEFIT PLANS
9 Months Ended
Sep. 29, 2018
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS

NOTE 6 - 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 $0.7 million and $2.3 million for the three and nine months ended September 29, 2018, respectively, and $0.7 million and $2.5 million for the three and nine months ended September 30, 2017, respectively. The Company plans to contribute approximately $0.7 million to the plan in matching employee contributions during the remainder of 2018.

 

In addition, the Company provided supplemental discretionary contributions to the 401(k) plan totaling $1.2 million and $3.8 million for the three and nine months ended September 29, 2018, respectively, and $1.2 million and $4.4 million for the three and nine months ended September 30, 2017, respectively. The Company plans to contribute approximately $1.2 million in supplemental contributions to the plan during the remainder of 2018.