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DEFINED CONTRIBUTION PENSION PLAN
12 Months Ended
Dec. 31, 2011
DEFINED CONTRIBUTION PENSION PLAN

NOTE 11. - DEFINED CONTRIBUTION PENSION PLAN

 

The Company maintains qualified Employee savings plans (the “401(k) Plans”) which qualify as deferred salary arrangements under Section 401(k) of the Internal Revenue Code which covers its employees at its Document Security Systems, P3, Secuprint and Premier Packaging subsidiaries. Employees generally become eligible to participate in the Plan immediately following the employee’s hire date. Employees may contribute up to 20% of their pay to the Plan, subject to the limitations of the Internal Revenue Code. Commencing July 1, 2011, the Company matched up to 1% of the employee’s salary. The matching contribution for 2011 was approximately $25,000 ($25,000 -2010).