(15) Employee Benefit Plan

12 Months Ended

Jun. 30, 2017

Notes

(15) Employee Benefit Plan

15)    Employee Benefit Plan

The Company has two deferred savings plans which qualify under Internal Revenue Code Section 401(k).

The first plan covers all employees of the Dynatronics Corporation entity, (the “Parent Company”), who have at least six months of service and who are age 20 or older. For fiscal years 2017 and 2016, the Parent Company made matching contributions of 25% of the first $2,000 of each employee’s contribution, with a six-year vesting schedule. The Parent Company’s contributions to the plan for fiscal years 2017 and 2016 were $45,294 and $36,103, respectively. The Parent Company matching contributions for future years are at the discretion of the board of directors.

The second plan covers all employees of Hausmann Enterprises LLC, the Subsidiary, who have at least twelve months of service and who are age 21 or older. For the fiscal year 2017, the Subsidiary made matching contributions of 50% of the first 6% of each employee’s deferred contribution up to a maximum of 3% of compensation, with a six-year vesting schedule applies. The Subsidiary’s contributions to the plan for the three-months in which it was owned by the Parent Company were approximately $93,000.