Employee Benefit Plan

12 Months Ended

Jun. 30, 2020

Employee Benefit Plan

Employee Benefit Plan

Note 15.  Employee Benefit Plan

The Company has a 401(k) defined contribution plan (the “Plan”) covering substantially all employees.  Pursuant to the Plan provisions, the Company is required to make matching contributions equal to 50% of each employee’s contribution, not to exceed 4% of the employee’s compensation for the Plan year.  Contributions to the Plan during the fiscal years ended June 30, 2020, 2019  and 2018 were  $2.2 million, $2.3 million and $2.3 million, respectively.

In Fiscal 2020, the Company implemented a non-qualified deferred compensation plan for certain senior-level management and executives.  The non-qualified deferred compensation plan allows certain eligible employees to defer additional pre-tax earnings for retirement, beyond the IRS limits in place under the Plan. Contributions to the non-qualified deferred compensation plan during Fiscal 2020 were not material.