This excerpt taken from the DCI DEF 14A filed Oct 6, 2008.
Retirement Benefits. Our executive officers participate in the following retirement plans which are provided to most other U.S. salaried Donaldson employees:
Salaried Employees Pension Plan is a defined benefit pension plan which provides retirement benefits to eligible U.S. employees through a cash balance benefit. It is designed to meet the requirements of a qualified plan under ERISA and the Internal Revenue Code. See the Pension Benefit table for more information on this plan.
Retirement Savings and Employee Stock Ownership Plan is a defined contribution plan designed to meet the requirements of a qualified plan under ERISA and the Internal Revenue Code and to encourage our employees to save for retirement. Most of our U.S. employees are eligible to participate in this Plan. Participants can contribute on a pretax basis up to 25% of their total cash compensation,
up to the Internal Revenue Service (IRS) annual deferral limits. The Company matches 100% of the first 3% of compensation that a participant contributes plus 50% of the next 2% of compensation that a participant contributes. An annual discretionary contribution may be made based on Company performance. All Company contributions are currently made in Donaldson stock and can be immediately moved into other funds within the Plan. Employees covered by a collective bargaining agreement are not eligible for company contributions.