401 (k) Employee Benefits Plan

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

401 (k) Employee Benefits Plan

401(k) Employee Benefits Plan

Effective January 1, 1995, the Company adopted The Goldfield Corporation and Subsidiaries Employee Savings and Retirement Plan, a defined contribution plan that qualifies under Section 401(k) of the Internal Revenue Code. The plan provides retirement benefits to all employees who meet eligibility requirements and elect to participate. Under the plan, participating employees may defer up to 75% of their pre-tax compensation per calendar year subject to Internal Revenue Code limits. The Company’s contributions to the plan are discretionary and amounted to approximately $297,000 and $286,000 for the years ended December 31, 2017 and 2016, respectively.