Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans

v3.3.1.900
Employee Benefit Plans
12 Months Ended
Dec. 31, 2015
Employee Benefit Plans  
Employee Benefit Plans

(12) Employee Benefit Plans

Prior to January 1, 2015, TruePosition participated in Liberty’s defined-contribution plan (the “Liberty 401(k) Plan”). The Liberty 401(k) Plan provided for employees to make contributions by salary reductions to a trust for investment in Liberty common stock, as well as several mutual funds and/or a self-directed brokerage account pursuant to Section 401(k) of the Internal Revenue Code.

Beginning January 1, 2015, employees of TruePosition and Skyhook participate in a separate defined-contribution plan administered by TruePosition (the “TruePosition 401(k) Plan”). The TruePosition 401(k) Plan provides for employees to make contributions by salary reductions for investment in several mutual funds and/or a self-directed brokerage account pursuant to Section 401(k) of the Internal Revenue Code.

TruePosition and Skyhook employees are eligible for 100% and 50% matching contributions by the Company for each dollar contributed up to 10% and 8% of the employees’ total compensation, respectively, subject to certain limitations. For the years ended December 31, 2015,  2014 and 2013, TruePosition contributed approximately $1.1 million, $1.5 million and $1.6 million respectively.