Note G - 401(k) Plan

12 Months Ended

Dec. 31, 2024

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 $1,417,000 in 2024, $1,292,000 in 2023, and $1,238,000 in 2022. In addition, the Company made cash contributions of $978,000 in 2024, $936,000 in 2023, and $884,000 in 2022 to the 401(k) Plan.  The Company also contributed $392,000, $417,000, and $427,000 to the 401(k) retirement plan covering its union employees at the Amron Division of the AMTEC subsidiary during the years ended December 31, 2024, 2023, and 2022, respectively.