MISONIX INC - 10-K filing on 2018-09-13

Employee Profit Sharing Plan	12 Months Ended
Jun. 30, 2018
Employee Profit Sharing Plan
Employee Profit Sharing Plan	10. Employee Profit Sharing Plan The Company sponsors a retirement plan pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”) for all full-time employees. Participants may contribute a percentage of compensation not to exceed the maximum allowed under the Code, which was $24,000 if the employee was over 50 years of age for the year ended June 30, 2018. The plan provides for a matching contribution by the Company of 10% of annual eligible compensation contributed by the participants based on years of service, which amounted to $58,162, $57,465 and $52,145 for the fiscal years ended June 30, 2018, 2017 and 2016, respectively.

Employee Profit Sharing Plan

12 Months Ended

Jun. 30, 2018

10. Employee Profit Sharing Plan

The Company sponsors a retirement plan pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”) for all full-time employees. Participants may contribute a percentage of compensation not to exceed the maximum allowed under the Code, which was $24,000 if the employee was over 50 years of age for the year ended June 30, 2018. The plan provides for a matching contribution by the Company of 10% of annual eligible compensation contributed by the participants based on years of service, which amounted to $58,162, $57,465 and $52,145 for the fiscal years ended June 30, 2018, 2017 and 2016, respectively.