9.	Retirement Plans

The Company has a profit sharing plan qualifying under Section

401

(k) of the Internal Revenue Code. All employees age

or more with

six

months of service are eligible for participation in the plan. The Company matches employee contributions up to

of total compensation and

may

make additional discretionary contributions. Employee and employer contributions are

100%

vested when made. The Company’s contributions to this plan were

$61,817

and

$48,654

for the

three

months ended

March 31, 2019

and

2018,

respectively.

The Company has entered into agreements with

employees to provide certain life insurance benefits payable in connection with policies of life insurance on those employees that are owned by the Company. Each of the agreements provides for the amount of death insurance benefits to be paid to beneficiaries of the insured. For this plan, the Company expensed

$1,468

and

$1,418

for the

three

months ended

March 31, 2019

and

2018,

respectively.

The Company adopted supplemental executive retirement plans for

three

of its executives. The plans provide cash compensation to the executive officers under certain circumstances, including a separation of service. The benefits vest over the period from adoption to a specified age for each executive. The Company recorded expenses, including interest, of

$30,600

and

$60,000

for the

three

months ended

March 31, 2019

and

2018,

respectively, for these plans.

Retirement plan expenses are included in employee benefits on the consolidated statements of income.