Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plan

v2.4.0.8
Employee Benefit Plan
12 Months Ended
Sep. 30, 2014
Employee Benefit Plan [Abstract]  
Employee Benefit Plan

Note 9.Employee Benefit Plan

 

The Company has a Simple Individual Retirement Account (IRA) plan for its employees.  Employees are eligible to participate in the plan if their compensation reaches certain minimum levels and are allowed to contribute up to a maximum of $14,500 annual compensation to the plan.  The Company has elected to match 100 percent of employee contributions to the plan up to a maximum of 3 percent of employee compensation for the years ended September 30, 2014, 2013 and 2012. Annual Company contributions were approximately $31,000,  $29,000 and $42,000 for the years ended September 30, 2014, 2013 and 2012, respectively. 

 

In March 2014, the Company elected to contribute 3 percent into the personal pension schemes of certain senior U.K. employees.  Contributions for the year ended September 30, 2014 were approximately $6,000.  Pension contributions were not made for the certain senior U.K. employees for the years ended September 30, 2013 and 2012.