Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans

v3.6.0.2
Employee Benefit Plans
12 Months Ended
Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans
Employee Benefit Plans
Effective January 1, 2007, the OPKO Health Savings and Retirement Plan (the “Plan”) permits employees to contribute up to 100% of qualified pre-tax annual compensation up to annual statutory limitations. The discretionary company match for employee contributions to the Plan is 100% up to the first 4% of the participant’s earnings contributed to the Plan. Our matching contributions to the Plan were approximately $0.7 million, $0.8 million and $0.6 million for the years ended December 31, 2016, 2015, and 2014 respectively.
Bio-Reference Laboratories, Inc. sponsors a 401(k) Profit-Sharing Plan (the “Bio-Reference Plan”).  Employees become eligible for participation after attaining the age of eighteen and completing one year of service.  Participants may elect to contribute up to 60% of their compensation, as defined in the Bio-Reference Plan, to a maximum allowed by the Internal Revenue Service.  Bio-Reference makes a matching contribution to the plan for each participant who has elected to make tax-deferred contributions. The discretionary company match for employee contributions to the Bio-Reference Plan is 100% up to the first 3% of the participant’s earnings contributed to the Bio-Reference Plan, with an annual maximum match of $1 thousand.   Bio-Reference Laboratories, Inc. elected to make a matching contribution which amounted to $1.8 million for the year ended December 31, 2016.
GeneDx, Inc. sponsors a 401(k) Profit-Sharing Plan (the “GeneDx Plan”).  Employees become eligible for participation after attaining the age of eighteen and completing one month of service.  Participants may elect to contribute up to 100% of their compensation, as defined in the GeneDx Plan, to a maximum allowed by the Internal Revenue Service.  GeneDx, Inc. makes a matching contribution to the plan for each participant who has elected to make tax-deferred contributions. The discretionary company match for employee contributions to the GeneDx Plan is 100% up to the first 3%, plus 50% of the next 2% of the participant’s earnings contributed to the GeneDx Plan. GeneDx, Inc. elected to make a matching contribution which amounted to $1.0 million for the year ended December 31, 2016.