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Note 11 - Employee Benefit Plans
 12 Months Ended
Mar. 31, 2022
Notes to Financial Statements  
Retirement Benefits [Text Block]

Note 11. Employee Benefit Plans

 

We adopted the Mesa Laboratories, Inc. 401(K) Retirement Plan effective January 1, 2000. Under this plan, we match 100% of the first 4% of pay contributed by each eligible employee, and contributions vest immediately. Participation is voluntary, and employees are eligible on the first day of the month following their start date. This plan also became effective for Agena employees upon completion of the Agena Acquisition on October 20, 2021.

 

Prior to the year ended March 31, 2022, certain employees of our Biopharmaceutical Development division were subject to the terms of a 401(K) plan in effect when we originally acquired the businesses comprising the division. Under the pre-existing plan, we matched 100% of the first 6% of pay contributed by each eligible employee, and contributions vested over three years. In July 2022, all employees under the pre-existing plan became subject to the terms of the Mesa Laboratories, Inc. 401(K) Retirement Plan. 

 

During the years ended March 31, 2022, 2021 and 2020, respectively, we contributed $1,185, $935, and $661 to Mesa Laboratories, Inc. 401(K) retirement plans on behalf of employees.