Note 12 - Retirement Plan |
12 Months Ended |
|---|---|
May 31, 2026 | |
| Notes to Financial Statements | |
| Retirement Benefits [Text Block] |
Greystone implemented a defined contribution and profit-sharing plan effective January 1, 2019. The defined contribution plan is an Internal Revenue Code of 1986, as amended, Section 401(k) plan. Greystone matches employee contributions up to 6% of employee contributions with a maximum employer contribution of 4% based on 100% of the first 3% and 50% of the next 2%. The employee is 100% vested for employer contributions to the 401(k) plan. Greystone’s contributions to the 401(k) plan totaled $197,225 and $295,075 in the fiscal years ended May 31, 2026 and 2025, respectively.
The profit-sharing plan is an employer nonelective plan. Greystone’s contributions are discretionary. Vesting is earned ratably over a period. Greystone has not authorized or made any discretionary contributions since inception.
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