Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Program

v3.21.2
Employee Benefit Program
 9 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PROGRAM
R. EMPLOYEE BENEFIT PROGRAM:

 

Effective September 1998, the Company has a SIMPLE IRA plan (Savings Incentive Match Plan for Employees) covering all employees who meet certain requirements. Each employee is 100% vested in their contribution and the company match. The Company makes a matching contribution on a semi-monthly basis based on the contribution the employee makes and the amount of compensation earned during that pay period. Employer contributions accrued and charged to this plan for the nine months ended September 30, 2021 and 2020 amounted to $123,409 and $81,622, respectively.