Note 12 - Benefit Plans

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

12.

Benefit Plans

The Company has a defined contribution plan (

401

(k) plan) covering all eligible employees. In

2016,

2017

 and

2018,

in accordance with the safe harbor provisions of the plan, the Company contributed 

$256,309,

$330,415

and

$331,957,

 respectively, to the plan. The Company adopted the safe harbor provisions for its

401

(k) plan which requires it to contribute a fixed match to each participating employee’s contribution to the plan. The fixed match is set at the rate of dollar for dollar on the

first

1%

of eligible pay contributed, then

50

cents on the dollar for each additional percentage point of eligible pay contributed, up to

5%.

Each employee’s eligible pay with respect to calculating the fixed match is limited by IRS regulations. In addition, the Board of Directors, at its sole discretion,

may

authorize the Company to make additional contributions to each participating employee’s plan. The employee contribution limit for

2016

and

2017

 was

$18,000

for employees under the age of

50

and

$24,000

for employees

50

years of age or older. The employee contribution limit was increased in

2018

to

$18,500

for employees under the age of

50

and

$24,500

for employees

50

years of age and older.