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PENSION AND PROFIT-SHARING PLANS
 9 Months Ended
May 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 nine-month periods ended May 31, 2022 and 2021, the 401(k) compensation expense was $426,436 and $393,218, respectively.