SMTC Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 14 - Defined Contribution Pension Plan and Post-employment Benefit Plan

Note 14 - Defined Contribution Pension Plan and Post-employment Benefit Plan

12 Months Ended

Dec. 30, 2018

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

Defined contribution pension plan and post-employment benefit plan

The Company has a

401K

plan which is accounted for as a defined contribution plan for certain U.S. employees, whereby the Company matches a portion of employee contributions. Company contributions to the

401K

plan were

$139,

$125

and

$162

for the years ended

December 30, 2018,

December 31, 2017

and

January 1, 2017,

respectively.

The Company has certain post-employment benefits related to employees in its Mexico-Chihuahua facility. These benefit plans are only available to local employees and are generally government mandated. The liability related to the unfunded benefit obligations was

$275

and

$283

as at

December 30, 2018

and

December 31, 2017

respectively, which was classified within accrued liabilities in the consolidated balance sheet.