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Other Postretirement Benefit Plan
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
OTHER POSTRETIREMENT BENEFIT PLAN

NOTE 11 - OTHER POSTRETIREMENT BENEFIT PLAN

 

Relmada participates in a multiemployer 401(k) plan that permits eligible employees to contribute funds on a pretax basis subject to maximum allowed under federal tax provisions. The Company matches 100% of the first 3% of employee contributions, plus 50% of employee contributions that exceed 3% but do not exceed 5%.

 

The employees choose an amount from various investment options for both their contributions and the Company’s matching contribution. The Company’s contribution expense was $112,910 and $90,692 for the years ended December 31, 2021 and 2020, respectively.