Annual report pursuant to Section 13 and 15(d)

401 (k) Employee Benefits Plan

v3.19.1
401 (k) Employee Benefits Plan
12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
401 (k) Employee Benefits Plan
401(k) Employee Benefits Plan
Effective January 1, 1995, the Company adopted The Goldfield Corporation and Subsidiaries Employee Savings and Retirement Plan, a defined contribution plan that qualifies under Section 401(k) of the Internal Revenue Code. The plan provides retirement benefits to all employees who meet eligibility requirements and elect to participate. Under the plan, participating employees may defer up to 75% of their pre-tax compensation per calendar year subject to Internal Revenue Code limits. The Company’s contributions to the plan are discretionary and amounted to approximately $258,000 and $297,000 for the years ended December 31, 2018 and 2017, respectively.