MRVL » Topics » Note 9. Employee Retirement Savings Plan

This excerpt taken from the MRVL 8-K filed Jan 13, 2006.

Note 9.  Employee Retirement Savings Plan

 

QLogic has established a pretax savings and profit sharing plan under Section 401(k) of the Internal Revenue Code for substantially all domestic employees.  Under the plan, eligible employees are able to contribute up to 15% of their compensation. QLogic contributions match up to 3% of a participant’s compensation.  QLogic’s direct contributions on behalf of employees included in the accompanying financial statements are $240,000.

 

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