12. Pension and Profit-sharing Plans

12 Months Ended

Aug. 31, 2020

Notes

12. Pension and Profit-sharing Plans

12.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, 2020 and 2019 the 401(k) compensation expense was $439,368 and $295,557, respectively.