Defined Contribution Plan
|12 Months Ended|
Dec. 31, 2019
|Defined Contribution Pension And Other Postretirement Plans Disclosure [Abstract]|
|Defined Contribution Plan||
13. Defined Contribution Plan
The Company established a defined contribution savings plan under Section 401(k) of the Internal Revenue Code. This plan covers substantially all employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pretax or post-tax basis. Company contributions to the plan may be made at the discretion of the board of directors. The Company instituted effective September 1, 2017 an employer match of 100% of the amount the employees contribute to the 401(k) plan for each payroll period up to the first 1% of plan compensation plus 50% of the amount the employees contribute between 1% and 6% of plan compensation. For the years ended December 31, 2019, 2018, and 2017 the Company contributed $0.5 million, $0.4 million and $0.3 million respectively, to the 401(k) plan.
The entire disclosure for pension and other postretirement benefits.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef