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RETIREMENT PLAN
12 Months Ended
Dec. 31, 2019
DEFINED BENEFIT PENSION PLAN  
RETIREMENT PLAN

NOTE 13 — RETIREMENT PLAN

 

The Corporation has established a 401(k) profit sharing plan.  Employees who have completed three months of service and attained the age of 18 are eligible to participate in the plan.  Eligible employees can elect to have a portion, not to exceed 80%, of their annual compensation paid into the plan.  In addition, the Corporation may make discretionary contributions into the plan.  Retirement plan contributions charged to operations totaled $.370 million and $.400 million in 2019 and 2018 respectively.