XML 32 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Savings Plan, Employee Stock Ownership Plan and Retirement Plan
12 Months Ended
May 31, 2016
Text Block [Abstract]  
Savings Plan, Employee Stock Ownership Plan and Retirement Plan
Savings Plan, Employee Stock Ownership Plan and Retirement Plan
We maintain a Savings Plan (“401(k)”). Employees become eligible to participate in the 401(k) after 90 days of employment. We have the option to match contributions of participants at a rate we determine each year. For participants with three or more years of service, we also may elect to make additional discretionary matching contributions in excess of the rate elected for participants with less than three years of service.
The Board of Directors determines the amount to be contributed annually to the 401(k) in cash, provided that such contributions shall not exceed the amount deductible for federal income tax purposes. Cash contributions to the 401(k) of $554, $848 and $784 were made for fiscal 2016, 2015 and 2014, respectively.
We have a Supplemental Executive Retirement Plan (“SERP”) that provides for automatic deferral of contributions in excess of the maximum amount permitted under the 401(k) for our executives who choose to participate. The SERP is a non-qualified deferred compensation program, and we have an unfunded contractual obligation under this plan. We have the option to match contributions of participants at a rate we determine each year. Cash contributions to the SERP were $14, $22 and $25 for fiscal 2016, 2015 and 2014, respectively. As of May 31, 2016 and 2015, we had $3,089 and $3,521, respectively, of obligations for this plan included in accrued expenses. We have investments in money market and mutual funds, as directed by the participants, of $3,089 and $3,521 as of May 31, 2016 and 2015, respectively, included in other assets.