MAYS J W INC
For the period ended Jul 31, 2025. Filed Oct 23, 2025.
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FY2025 · Filed Oct 23, 2025
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EX-13 · CONTINGENT LIABILITY FOR PENSION PLANS:
CONTINGENT LIABILITY FOR PENSION PLANS:
Information as to the Company’s portion of accumulated plan benefits and plan assets is not reported separately by the pension plan. Under the Employee Retirement Income Security Act, upon withdrawal from a multi-employer benefit plan, an employer is required to continue to pay its proportionate share of the plan’s unfunded vested benefits, if any. Any liability under this provision cannot be determined: however, the Company has not made a decision to withdraw from the plan.
Information for contributing employer’s participation in the multi-employer plan:
| Legal name of Plan | United Food and Commercial Workers Local 888 Pension Fund |
|---|---|
| Employer identification number: | 13-6367793 |
| Plan number: | 001 |
| Date of most recent Form 5500: | December 31, 2024 |
| Certified zone status: | Critical and declining status |
| Status determination date: | January 1, 2024 |
| Plan used extended amortization provisions in status calculation: | Yes |
| Minimum required contribution: | Yes |
| Employer contributing greater than 5% of Plan contributions for year ended December 31, 2023: | Yes |
| Rehabilitation plan implemented: | Yes |
| Employer subject to surcharge: | Yes |
| Contract expiration date: | November 30, 2025 |
Under the pension fund’s rehabilitation plan expiring November 30, 2025, the Company agreed to pay a minimum contribution rate equal to 20.50% of each covered employee’s pay. The contract also covers rates of pay, hours of employment and other conditions of employment for approximately 21% of the Company’s 28 employees. The Company considers that its labor relations with its employees and union are good.
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