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RETIREMENT PLAN
12 Months Ended
Dec. 31, 2020
RETIREMENT PLAN  
RETIREMENT PLAN

(12)  RETIREMENT PLAN

In 2012, the Company established a defined contribution retirement plan for its employees under section 401(k) of the Internal Revenue Code (the “401(k) Plan”) that is available to all employees 18 years of age or older with three months of service. All employee contributions are fully vested immediately and employer contributions vest over a period of four years. The Company has a discretionary employee match program and currently matches 35% of first 6% of an employee’s contributions.

During the years ended December 31, 2020 and 2019, The Company recorded an expense of $0.3 million and $0.1 million, respectively, under the aforementioned plan, related to the Company match.