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Employee Benefit Plans
12 Months Ended
Mar. 31, 2018
Retirement Benefits [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 years ended March 31, 2018 and 2017 totaled approximately $52,000 and $46,000, 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.