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RETIREMENT AND EMPLOYEE BENEFIT PLANS | 12 Months Ended
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Sep. 30, 2025
RETIREMENT AND EMPLOYEE BENEFIT PLANS |
RETIREMENT AND EMPLOYEE BENEFIT PLANS |
23. | RETIREMENT AND EMPLOYEE BENEFIT PLANS
In 2025 and 2024, C. J. Hughes maintained a tax-qualified 401(k) retirement plan for union employees. Employees can contribute up to 15% of eligible wages, provided the compensation deferred for a plan year does not exceed the indexed dollar amount set by the Internal Revenue Service which was $23,500 for 2025 and $23,000 for 2024. C. J. Hughes matches $0.25 on each dollar contributed up to 6% of eligible wages. C. J. Hughes contributed $74,000 and $37,000 to the union plan for the fiscal years September 30, 2025 and 2024, respectively. Additionally, each plan year, C. J. Hughes may make a discretionary profit-sharing contribution for participants who are actively employed on the last day of the plan year. No discretionary profit-sharing contribution was made for the 2025 or 2024 plan year. Effective January 1, 2010, Energy Services became the successor plan sponsor of the C. J. Hughes Construction Company, Inc. 401(k) Plan for non-union employees (the “Plan”). The Plan was renamed the Energy Services of America Staff 401(k) Retirement Savings Plan. Employees are eligible to participate in the Plan upon completion of six months of service but must wait until a quarterly entry to join the Plan. In addition, participants who are age 50 or older by the end of the Plan year may elect to defer up to an additional $7,500 into the Plan for 2025. A new special catch-up of $11,250 is available for employees who are ages 60 through 63. The overall limit for combined employee and employer contributions is $70,000 for 2025. Energy Services may make annual discretionary matching contributions and/or profit-sharing contributions to the Plan. The matching contribution formula for the Plan was 100% of each dollar contributed for the first 3% of eligible wages and 50% of each dollar contributed for the next 3% of eligible wages. The Company’s matching contribution is used by the Plan’s third-party administrator to purchase Energy Services of America common stock from the open market. No restrictions on the match exist after it has been contributed. No profit-sharing contribution was made for the 2025 or 2024 plan year. Energy Services and its wholly owned subsidiaries contributed $1.1 million and $864,000, respectively, for the fiscal years ended September 30, 2025, and 2024 to the Plan. The Company contributes to a number of multi-employers defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in these multi-employer plans are different from single-employer plans in the following aspects:
| ● | Assets contributed to the multi-employer plan by one employer may be used to provide benefits to employees of other participating employers. If participating employers stop contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.
| ● | If the Company chooses to stop participating in some of its multi-employer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability.
The following table presents our participation in these plans: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Contibutions of | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Pension Protection Act (“PPA”) | ​ | ​ | ​ | ​ | Energy Services of America | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Certified Zone Status (1) | ​ | FIP/RP Status | ​ | ​ | Companies | ​ | ​ | ​ | Expiration Date of
​ | ​ | EIN/Pension | ​ | ​ | ​ | ​ | ​ | Pending/ | ​ | ​ | ​ | ​ | ​ | ​ | Surcharge | ​ | Collective Bargaining
Pension Fund | ​ ​ ​ | Plan Number | ​ ​ ​ | 2024 | ​ ​ ​ | 2023 | ​ ​ ​ | Implemented (2) | ​ ​ ​ | ​ | 2025 | ​ | 2024 | ​ ​ ​ | Imposed | ​ ​ ​ | Agreement
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Central States, Southeast and Southwest Areas Pension Fund | ​ | 36-6044243/001 | ​ | Green | ​ | Green | ​ | N/A | ​ ​ ​ | $ | 121,801 | ​ ​ ​ | $ | 197,890 | ​ ​ ​ | no | ​ ​ ​ | Various
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​
Laborers National Pension Fund |  | 75-1280827/001 | ​ | Red | ​ | Red | ​ | Implemented | ​ |  | 1,085,378 | ​ |  | 220,354 | ​ | no |  | Various
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Laborers’ District Council of Western Pennsylvania Pension Plan | ​ | 25-6135576/001 | ​ | Yellow | ​ | Yellow | ​ | Implemented | ​ | ​ | — | ​ | ​ | 4,026 | ​ | no | ​ | Various
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Engineers Local 324 Pension Fund | ​ | 38-1900637/001 | ​ | Red | ​ | Red | ​ | Implemented | ​ | ​ | 151,448 | ​ | ​ | 50,666 | ​ | no | ​ | Various
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
National Automatic Sprinkler Industry Pension Fund |  | 52-6054620/001 | ​ | Green | ​ | Green | ​ | N/A | ​ |  | 381,313 | ​ |  | 570,197 | ​ | no |  | Various
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​
Carpenters Pension Fund of WV (Greater Pennsylvania Carpenters’ Pension Fund 25-6135570/001) |  | 55-6027998/001 | ​ | Yellow | ​ | Yellow | ​ | Implemented | ​ |  | 346,464 | ​ |  | 871,079 | ​ | no |  | Various
​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​
Plumbers & Pipefitters National Pension Fund (United Association National Pension Fund) |  | 52-6152779/001 | ​ | Green | ​ | Green | ​ | N/A | ​ |  | 2,200,593 | ​ |  | 1,964,549 | ​ | no |  | Various
​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​
Sheet Metal Workers’ National Pension Fund |  | 52-6112463/001 | ​ | Green | ​ | Green | ​ | N/A | ​ |  | 617,501 | ​ |  | 370,727 | ​ | no |  | Various
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Sheet Metal Workers Local Pension Fund |  | 34-6666753/001 | ​ | Red | ​ | Red | ​ | Implemented | ​ |  | — | ​ |  | 4,716 | ​ | no |  | Various
​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​
All Other |  | ​ |  | Green | ​ | Green | ​ | N/A | ​ |  | 5,250,137 | ​ |  | 5,729,480 | ​ | no |  | Various
​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ |  | ​
​ |  | ​ |  | ​ |  | ​ |  | ​ | ​ | $ | 10,154,635 | ​ | $ | 9,983,684 | ​ | ​ |  | ​
(1) | The most recent PPA zone status available in 2025 and 2024 is the plan’s year-end during 2024 and 2023, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the orange zone are less than 80 percent funded and have an Accumulated Funding Deficiency in the current year or projected into the next six years, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded.
(2) | Indicates whether the plan has a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”) which is either pending or has been implemented.
The Company currently does not have any intention of withdrawing from any of the multi-employer pension plans in which it participates. On November 12, 2021, the Company received a withdrawal liability claim from a pension plan to which the Company made pension contributions for union construction employees performing covered work in a particular jurisdiction. The Company has not performed covered work in their jurisdiction since 2011; however, the Company disagrees with the withdrawal claim and believes it is covered by an exemption under federal law. The demand called for thirty-four quarterly installment payments of $41,000 starting December 15, 2021. The Company must comply with the demand under federal pension law; however, the Company firmly believes no withdrawal liability exists. The Company is in negotiations with the pension fund to resolve the matter and all future payments have been suspended as part of the negotiation. The Company has expensed all $164,000 in payments made through September 30, 2023, and does not expect any future liabilities related to this claim. The Company made no payments during the twelve months ended September 30, 2025 and 2024.

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