Employee Benefit Plan

12 Months Ended

Dec. 31, 2022

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plan

H. Employee Benefit Plan

LGL Group offered a defined contribution plan for eligible employees that includes discretionary matching contributions up to 50% of the first 6% of eligible compensation contributed by participants. The Company contributed $89,000 and $112,000 in discretionary contributions during 2022 and 2021 respectively. Participants vest in employer contributions starting after their second year of service at 20% increments, vesting 100% in year six. The Company has set up its own defined contribution plan for eligible employees, with similar terms and discretionary contributions, which became effective in January of 2023.