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Employee Benefit Plans
3 Months Ended
Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans

NOTE 12 – EMPLOYEE BENEFIT PLANS

 

The Company has a 401(k) plan for its employees to which the Company makes contributions at rates dependent on the level of each employee’s contributions. Contributions made by the Company are limited to the maximum allowable for federal income tax purposes. The amounts charged to operations for contributions to this plan and administrative costs during the three month periods ended June 30, 2016 and 2015 totaled $9,867 and $9,258, respectively. The amounts are included as a component of general and administrative expense in the accompanying Consolidated Statements of Income. The Company does not provide any post-employment benefits to retirees.