Note 9 - Retirement Plans |
12 Months Ended |
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Dec. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] |
9
. Retirement Plans
The Company has a Cash or Deferred Arrangement Agreement, which satisfies the requirements of Section
401 (k) of the Internal Revenue Code. This defined contribution retirement plan covers substantially all employees. Participants can elect to have up to the maximum percentage allowable of their salaries reduced and contributed to the plan. The Company may make matching contributions equal to a discretionary percentage of the participants’ elective deferrals. In 2019 and 2018, the Company matched 25% first 6% may be used to offset current and future employer matching contributions. The Company may also make additional contributions to all eligible employees at its discretion. The Company did
not 2019 or 2018. Expenses for matching contributions for the years ended December 31, 2019 and 2018 were $32,162 and $30,599, respectively. |
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- References No definition available.
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- Definition The entire disclosure for pension and other postretirement benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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