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HSY » Topics » 15. SAVINGS PLANS

This excerpt taken from the HSY 10-K filed Feb 19, 2010.

15. SAVINGS PLANS

The Company sponsors several defined contribution plans to provide retirement benefits to employees. Contributions to The Hershey Company 401(k) Plan and similar plans for non-domestic employees are based on a portion of eligible pay up to a defined maximum. Beginning in 2007, the defined maximum was increased for all domestic salaried and non-union hourly employees and all matching contributions were made in cash. Beginning in 2008, the defined maximum was increased for certain domestic union hourly employees. Expense associated with the defined contribution plans was $24.0 million in 2009, $22.1 million in 2008 and $18.7 million in 2007.

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