Annual report pursuant to Section 13 and 15(d)

RETIREMENT PLANS

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RETIREMENT PLANS
12 Months Ended
Apr. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
RETIREMENT PLANS
NOTE 8 - RETIREMENT PLANS
 
The Company and its subsidiaries participate in employee savings plans under Section 401(k) of the Internal Revenue Code pursuant to which eligible employees may elect to defer a portion of their annual salary by contributing to the plan. There were no Company matching contributions made for the years ended April 30, 2015 and 2014.
 
The Company also contributes to various multiemployer pension plans pursuant to collective bargaining agreements. The information available to the Company about the multiemployer plans in which it participates, whether via request to the plan or publicly available, is generally dated due to the nature of the reporting cycle of multiemployer plans and legal requirements under the Employee Retirement Income Security Act (“ERISA”) as amended by the Multiemployer Pension Plan Amendments Act (“MPPAA”). Based upon these plans’ most recently available annual reports, the Company’s contribution to these plans were less than 5% of each such plan’s total contributions. The “FIP/RP Status Pending or Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. Information on significant multiemployer pension plans in which the Company participates is included in the table below.
 
 
 
 
 
 
 
 
 
 
 
Expiration of
 
 
 
 
 
 
 
 
 
Federal
 
Pension
 
FIP/RP
 
Collective
 
 
 
 
 
 
 
 
 
Identification
 
Certified Zone Status
 
Status Pending
 
Bargaining
 
Company's Contributions
 
Pension Plan Legal name
 
Number
 
2015
 
2014
 
or Implemented
 
Arrangement
 
2015
 
2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
International Brotherhood of Electrical Workers District No. 9 Pension Plan
 
93-6074829
 
NA
 
NA
 
No
 
11/30/2017
 
$
489,786
 
$
377,694
 
 
Governmental regulations impose certain requirements relative to the multi-employer plans. In the event of plan termination or employer withdrawal, an employer may be liable for a portion of the plan’s unfunded vested benefits. The Company has not received information from the plan’s administrators to determine its share of unfunded vested benefits. The Company does not anticipate withdrawal from the plans, nor is the Company aware of any expected plan terminations.