Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plan

v3.20.4
Employee Benefit Plan
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Employee Benefit Plan Employee Benefit Plan
Defined Contribution Plan
The Company sponsors a 401(k) plan for all eligible employees. The plan allows participants to contribute up to the IRS 402(g) limits each year, both on a pretax and after tax basis, which was $19,500 in 2020. The plan also allows discretionary Company contributions as determined by the Company’s Board of Directors. Effective January 1, 2006, the Company implemented a discretionary match of up to two percent of participating employee contributions. The employer contribution will vest 25% in an employee's account for each year of service with the Company and 25% each additional year until it is fully vested in year four. Contribution expense to the Company was $11.9 million, $12.2 million and $10.1 million in the years ended December 31, 2020, 2019 and 2018, respectively.