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BENEFIT PLANS
12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
BENEFIT PLANS

11. BENEFIT PLANS

 

The Company sponsors a profit sharing plan and a savings plan under Section 401(k) of the Internal Revenue Code, covering substantially all salaried employees over the age of 21 with at least 12 months of service. Under the savings plan, the Company contributes three percent of salary for each employee regardless of the employees’ contributions as well as partially matching employee contributions. Expense for the savings plan totaled approximately $1.6 million for each of the years ended December 31, 2017, 2016 and 2015, respectively.

 

Contributions to the profit sharing plan are made at the discretion of the Board of Directors and all funds are invested solely in Company common stock. The Company did not contribute to the profit sharing plan in 2017, 2016 or 2015.