Employee Benefit Plans

12 Months Ended

Jun. 30, 2015

Employee Benefit Plans

Employee Benefit Plans

13. Employee Benefit Plans

401(k) Plan

        The Company offers a contributory 401(k) plan that is available to all full-time salaried and hourly-paid employees who have attained age 18, and completed 90 days of employment. Employees may contribute up to 100% of their base compensation, subject to IRS limitations. The Company will match 50% of each employee's contribution up to the first 6% contributed. For the years ended June 30, 2015 and 2014, the Company contributed $315 thousand and $341 thousand, respectively.

Deferred Compensation

        The Company has individual deferred compensation agreements with five former senior officers. The Company recognized deferred compensation expense of $30 thousand and $80 thousand for the years ended June 30, 2015 and 2014, respectively. At June 30, 2015 and 2014, the Company's deferred compensation liability was $512 thousand and $485 thousand, respectively.