Quarterly report pursuant to Section 13 or 15(d)

Other Post-Retirement Benefit Plan

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Other Post-Retirement Benefit Plan
9 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
OTHER POST-RETIREMENT BENEFIT PLAN

NOTE 9 - OTHER POST-RETIREMENT BENEFIT PLAN

 

Relmada participates in a multiemployer 401(k) plan that permits eligible employees to contribute funds on a pretax basis subject to maximum allowed under federal tax provisions. The Company matches 100% of the first 3% of employee contributions, plus 50% of employee contributions that exceed 3% but do not exceed 5%.

 

The employees choose an amount from various investment options for both their contributions and the Company’s matching contribution. The Company’s contribution expense was approximately $101,100 and $58,500 for the nine months ended September 30, 2021 and 2020, respectively.