Note E: Employee Benefit Plans
The company has available to certain employees a profit sharing retirement
plan. Under the plan, employee and company contributions and accumulated
plan earnings qualify for favorable tax treatment under Section 401(k) of
the Internal Revenue Code. This plan permits employees to make contributions
up to the maximum limits allowable under the Internal Revenue Code. The
company matches up to 3% of the employee's salary up to plan limits. Company
contributions to the retirement plan were $2.7 million, $2.4 million and
$2.1 million in 2000, 1999 and 1998, respectively. The company has in place
an Incentive Compensation Plan, which provides cash awards to key management
employees based on the company's and the individual's performance. The company
offers a Supplemental Retirement Plan, which allows eligible employees to
purchase annuity contracts. The company makes available to management a
Nonqualified Deferred Compensation Plan which allows management to make
payroll contributions on a pre-tax basis in addition to the 401(k) Plan.
This plan does not qualify under Section 401(k) of the Internal Revenue
Code. Other long-term assets and other long-term liabilities include $26.8
million and $37.0 million in 2000 and 1999, respectively, related to the
Nonqualified Deferred Compensation Plan.
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Notes
to Consolidated Financial Statements
