13. Pension and Profit-sharing Plans

9 Months Ended

May 31, 2020

Notes

13. Pension and Profit-sharing Plans

13.PENSION AND PROFIT-SHARING PLANS 

The Company has a deferred compensation 401(k) plan for all employees with at least 6 months of service pending a monthly enrollment time.  The plan allows for a non-elective discretionary contribution plus matching employee contributions up to a specific limit. The percentages of contribution remain the discretion of the Board and are reviewed with management annually. For the nine months ended May 31, 2020 and 2019, the 401(k) compensation expense was $330,208 and $227,379, respectively.