Employee Benefit Obligation
|12 Months Ended|
Dec. 31, 2020
|Compensation And Retirement Disclosure [Abstract]|
|Employee Benefit Obligation||
12. EMPLOYEE BENEFIT OBLIGATION
The Company sponsors two defined benefit plans covering the majority of Italian employees and all of Solutions Infini’s employees. Total costs of the defined benefit plans for the years ended December 31, 2020 and 2019 was $465,000 and $287,000, respectively.
Changes in obligations of the defined benefit plans is as follows (in thousands):
There are no plan assets servicing the defined benefits plans.
The assumptions used to determine benefit obligations at year-end are as follows:
The Company also has a(“401(k) plan”) covering substantially all U.S. domestic employees. The participation in this plan is voluntary. The Company matches plan participants’ contributions up to various limits. Participants’ contributions are limited based on their compensation and, for certain supplemental contributions which are not eligible for Company matching, based on their age. Contributions for the 401(k) plan were $102,000 and $54,000 for the years ended December 31, 2020 and 2019, respectively.
The entire disclosure for retirement benefits.
Reference 1: http://www.xbrl.org/2003/role/exampleRef