General form of registration statement for all companies including face-amount certificate companies

DEFINED CONTRIBUTION PLAN

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DEFINED CONTRIBUTION PLAN
9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Retirement Benefits [Abstract]    
DEFINED CONTRIBUTION PLAN

NOTE 7 – DEFINED CONTRIBUTION PLAN

 

The Company has a 401(k)-retirement savings plan (the “401(k) Plan”) covering all eligible employees. The 401(k) Plan allows employees to defer a portion of their annual compensation, and the Company may match a portion of the employees’ contributions generally after the first six months of service. During the nine months ended September 30, 2022, the Company matched 100% of the first 4% of eligible employee compensation that was contributed to the 401(k) Plan. For the nine months ended September 30, 2022, the Company recognized expense for matching cash contributions to the 401(k) Plan totaling $119,322.

  

NOTE 15 – DEFINED CONTRIBUTION PLAN

 

The Company has a 401(k)-retirement savings plan (the “401(k) Plan”) covering all eligible employees. The 401(k) Plan allows employees to defer a portion of their annual compensation, and the Company may match a portion of the employees’ contributions generally after the first six months of service. During the twelve months ended December 31, 2021, the Company matched 100% of the first 4% of eligible employee compensation that was contributed to the 401(k) Plan. For the twelve months ended December 31, 2021, the Company recognized expense for matching cash contributions to the 401(k) Plan totaling $111,759.