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Employer Sponsored Benefit Plans
12 Months Ended
Apr. 30, 2022
Compensation And Retirement Disclosure [Abstract]  
Employer Sponsored Benefit Plans

13. Employer Sponsored Benefit Plans

Contributory Defined Investment Plan — Our employees participate in a contributory defined investment plan, subject to service requirements. Under the terms of the plan, employees may contribute from 1% to 30% of their annual pay and we generally make discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan. We contributed $592,000 and $461,000 for the fiscal years ended April 30, 2022 and 2021, respectively.

Prior to the Separation, our employees participated in two contributory defined investment plans sponsored by our former parent, subject to service requirements. For one plan, employees could contribute up to 100% of their annual pay with no employer matching contributions. For the other plan, employees could contribute from 1% to 30% of their annual pay and our former parent generally made discretionary matching contributions of up to 50% of the first 6% of employee contributions to the plan. We contributed $215,000 for the fiscal year ended April 30, 2020.

Non-Contributory Profit-Sharing Plan — Our employees participate in our non-contributory profit-sharing plan upon meeting certain eligibility requirements. Prior to the Separation, our employees participated in a non-contributory profit-sharing plan sponsored by our former parent. Employees become eligible on May 1 following the completion of a full fiscal year of continuous service. Our contributions to the plan are discretionary. For fiscal years 2022, 2021, and 2020, we contributed $984,000, $1.9 million, and $217,000, respectively, which has been recorded in general and administrative costs. Contributions are funded after the fiscal year-end.