8. Pension Plan

6 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Pension Plan

The Company has a non-contributory defined benefit retirement plan covering substantially all of its employees.  The impact of the plan on operations is as follows:

	THREE-MONTHS ENDED
	DECEMBER 31,
	2015			2014
Service cost-benefits earned during the period	$	12,024		$	15,519
Interest cost on projected benefit obligation		32,297			29,411
Expected return on plan assets		(26,855	)		(24,319	)
Amortization of actuarial loss		33,566			31,208
Net periodic pension cost	$	51,032		$	51,819

	SIX-MONTHS ENDED
	DECEMBER 31,
	2015			2014
Service cost-benefits earned during the period	$	24,048		$	31,038
Interest cost on projected benefit obligation		64,594			58,822
Expected return on plan assets		(53,710	)		(48,638	)
Amortization of actuarial loss		67,132			62,416
Net periodic pension cost	$	102,064		$	103,637