Note 17 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

NOTE

17

—EMPLOYEE BENEFIT PLANS

Retirement Savings Plan

Effective

June

 

30,

1999,

the Company established the ICF Consulting Group Retirement Savings Plan (the “Retirement Savings Plan”). The Retirement Savings Plan is a defined contribution profit sharing plan with a cash or deferred arrangement under Section 

401(k)

of the Internal Revenue Code.

Participants in the Retirement Savings Plan are able to elect to defer up to

70%

of their compensation subject to statutory limitations, and

are entitled to receive

100%

employer matching contributions for the

first

3%

and

50%

for the next

2%

of their compensation. Contribution expense related to the Retirement Savings Plan for the years ended

December

31,

2016,

2015,

and

2014,

was approximately

$14.9

million,

$13.1

million, and

$12.3

million, respectively.

Deferred Compensation Plan

Certain key employees of the Company are eligible to defer a specified percentage of their cash compensation by having it contributed to a nonqualified deferred compensation plan. Eligible employees

may

elect to defer up to

80%

of their base salary and up to

100%

of performance bonuses, reduced by any amounts withheld for the payment of taxes or other deductions required by law. Participants are at all times

100%

vested in their account balances. The Company funds its deferred compensation liabilities by making cash contributions to a Rabbi Trust at the time the salary or bonus being deferred would otherwise be payable to the employee.

The liability to plan participants is materially funded at all times and the plan does not have a material net impact on the Company’s results of operations.

Employee Stock Purchase Plan

The Company has a

2006

Employee Stock Purchase Plan (“ESPP”)

under which

one

million shares have been authorized for issuance. The ESPP allows eligible employees to purchase shares of our common stock through payroll deductions up to

$25,000

per calendar year over

six

-month offering periods at a discount not to exceed

5%

of the market value on the date of each purchase period. For the year ended

December

31,

2016,

24,401

shares were purchased by employees, at an average purchase price of

$44.61,

and

752,111

shares remain available for future issuance. The Company does not recognize compensation expense related to the ESPP.