Employee Benefit Plans |
3 Months Ended |
|---|---|
Apr. 01, 2023 | |
| Employee Benefit Plans [Abstract] | |
| EMPLOYEE BENEFIT PLANS | NOTE 7 - EMPLOYEE BENEFIT PLANS
The Company sponsors a 401(k) plan that covers substantially all employees. The Company matches a certain portion of employee contributions using the safe harbor guidelines contained in the Internal Revenue Code. Expenses related to these matching contributions totaled $1.7 million and $1.3 million for the three months ended April 1, 2023 and April 2, 2022, respectively. The Company plans to contribute approximately $4.0 million to the plan in matching employee contributions during the remainder of 2023.
In addition, the Company provided supplemental discretionary contributions to the 401(k) plan totaling $2.2 million and $2.4 million for the three months ended April 1, 2023 and April 2, 2022, respectively. The Company plans to contribute approximately $5.0 million in supplemental contributions to the plan during the remainder of 2023. |