Note G - 401(k) Plan

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

G.   401(K) PLAN:

The Company sponsors a 401(k) retirement plan that covers substantially all non-union employees. Historically, the Company matched up to 50% of the first 4% of salary contributed by employees to the plan. This matching contribution was made with common stock. Starting in 2004, the Company began to match, in cash, an additional 50% of the first 4% of salary contributed by employees plus 3% of total compensation for certain employees. Contributions made from treasury stock, including the Company's related cash dividends, totaled $1,249,000 in 2020, $1,197,000 in 2019, and $1,218,000 in 2018. In addition, the Company made cash contributions of $813,000 in 2020, $802,000 in 2019, and $821,000 in 2018 to the 401(k) Plan.  The Company also contributed $443,000, $387,000, and $352,000 to the 401(k) retirement plan covering its union employees at the Amron Division of the AMTEC subsidiary during the years ended December 31, 2020, 2019, and 2018, respectively.