401(k) PLAN

12 Months Ended

Dec. 31, 2022

401(k) PLAN.

401(k) PLAN

17.  401(k) PLAN

The Company implemented an employee savings and retirement plan (the “401(k) Plan”) in 2005 that is intended to be a tax-qualified plan covering substantially all employees.  The 401(k) Plan is available to all employees on the first day of the month after 90 days of service. Under the terms of the 401(k) Plan, employees may elect to contribute up to 88% of their compensation, or the statutory prescribed limit, if less.  The Company may, at its discretion, match employee contributions.  For 2022, 2021, and 2020, the Company matched each participant’s elective deferrals up to 2% of the participant’s compensation for the pay period. The total match was $241,398; $204,032; and $162,008 in 2022, 2021, and 2020, respectively.