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RETIREMENT PLAN
12 Months Ended
Dec. 31, 2012
RETIREMENT PLAN  
RETIREMENT PLAN

NOTE 8 - RETIREMENT PLAN

 

The Company administers a 401(k) defined contribution retirement plan for the benefit of the majority of its employees.  Employees may participate in the plan immediately upon employment.  The Company matches contributions in an amount equal to one-quarter of the first 5% of each participant’s contribution to the plan after completion of one year of service with the Company.  401(k) assets are held by an independent trustee, are not assets of the Company, and accordingly are not reflected in the Company’s balance sheets.  The Company’s retirement plan expense was approximately $509, $472 and $537 for the years ended December 31, 2012, 2011, and 2010, respectively.