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PENSION AND PROFIT-SHARING PLANS
 12 Months Ended
Aug. 31, 2022
Retirement Benefits [Abstract]  
PENSION AND PROFIT-SHARING PLANS

 

11.PENSION AND PROFIT-SHARING PLANS

 

The Company has a deferred compensation 401(k) plan for all employees with at least 6 months of service pending a monthly enrollment time. The plan allows for a non-elective discretionary contribution plus matching employee contributions up to a specific limit. The percentages of contribution remain the discretion of the Board and are reviewed with management annually. For the years ended August 31, 2022 and 2021 the 401(k) compensation expense was $516,991 and $530,311, respectively.