MIR » Topics » Employee Savings Plan

These excerpts taken from the MIR 10-K filed Feb 29, 2008.

Employee Savings Plan

The Company maintains a defined contribution employee savings plan with a profit sharing arrangement whereby employees may contribute a portion of their base compensation to the employee savings plan, subject to limits under the Internal Revenue Code. The Company provides a matching contribution each payroll period equal to 75% of the employee’s contributions up to 6% of the employee’s pay for that period. For unionized employees, matching levels vary by bargaining unit.

Under the profit sharing arrangement, the Company contributes a quarterly fixed contribution of 3% of eligible pay and may make an annual discretionary contribution for those employees not accruing a benefit under the defined benefit pension plan.

Expenses recognized for the matching and profit sharing contributions were as follows (in millions):

 

     Matching    Profit
Sharing
Arrangement

2007

   $ 5    $ 4

2006

     5      3

2005

     5      4

 

F-34


Table of Contents

Employee Savings Plan

FACE="Times New Roman" SIZE="2">The Company maintains a defined contribution employee savings plan with a profit sharing arrangement whereby employees may contribute a portion of their base compensation to the employee savings plan, subject to
limits under the Internal Revenue Code. The Company provides a matching contribution each payroll period equal to 75% of the employee’s contributions up to 6% of the employee’s pay for that period. For unionized employees, matching levels
vary by bargaining unit.

Under the profit sharing arrangement, the Company contributes a quarterly fixed contribution of 3% of eligible
pay and may make an annual discretionary contribution for those employees not accruing a benefit under the defined benefit pension plan.

SIZE="2">Expenses recognized for the matching and profit sharing contributions were as follows (in millions):

 










































   Matching  Profit
Sharing
Arrangement

2007

  $5  $4

2006

   5   3

2005

   5   4

 


F-34







Table of Contents


This excerpt taken from the MIR 10-K filed Mar 1, 2007.

Employee Savings Plan

The Company maintains a defined contribution employee savings plan with a profit sharing arrangement whereby employees may contribute a portion of their base compensation to the employee savings plan, subject to limits under the Internal Revenue Code. The Company provides a matching contribution each payroll period equal to 75% of the employee’s contributions up to 6% of the employee’s pay for that period (match levels vary by bargaining unit). Under the profit sharing arrangement, the Company contributes a quarterly fixed contribution of 3% of eligible pay and may make an annual discretionary contribution for those employees not accruing a benefit under the defined benefit pension plan. Expenses recognized for the matching and profit sharing contributions were as follows (in millions):

 

 

Matching

 

Profit
Sharing
Arrangement

 

2006

 

 

$

5

 

 

 

$

3

 

 

2005

 

 

5

 

 

 

4

 

 

2004

 

 

5

 

 

 

2

 

 

 

This excerpt taken from the MIR 10-K filed Mar 14, 2006.

Employee Savings Plan

The Company maintains an Employee Savings Plan (“ESP”) with a profit sharing arrangement (“PSA”) whereby employees may contribute a portion of their base compensation to the ESP, subject to limits under the Internal Revenue Code. The Company provides a matching contribution each payroll period equal to 75% of the employee’s contributions up to 6% of the employee’s pay for that period (match levels vary by bargaining unit). Under the PSA, the Company contributes a quarterly fixed contribution of 3% of eligible pay and may make an annual discretionary contribution for those employees not accruing a benefit under the defined benefit pension plan. Expenses recognized for the matching and profit sharing contributions were as follows (in millions):

 

 

ESP

 

PSA

 

2005

 

 

$

5

 

 

 

$

4

 

 

2004

 

 

5

 

 

 

2

 

 

2003

 

 

6

 

 

 

4

 

 

 

154




This excerpt taken from the MIR 10-K filed Mar 15, 2005.

Employee Savings Plan

The Company maintains an Employee Savings Plan (“ESP”) with a profit sharing arrangement (“PSA”) whereby employees may contribute a portion of their base compensation to the ESP, subject to limits under the Internal Revenue Code. The Company provides a matching contribution each payroll period equal to 75% of the employee’s contributions up to 6% of the employee’s pay for that period (match levels vary by bargaining unit). Under the PSA, the Company contributes a quarterly fixed contribution of 3% of eligible pay and may make an annual discretionary contribution for those employees not accruing a benefit under the defined benefit pension plan. Expenses recognized for the matching and profit sharing contributions were as follows (in millions):

 

 

ESP

 

PSA

 

2004

 

 

$

5

 

 

 

$

2

 

 

2003

 

 

6

 

 

 

4

 

 

2002

 

 

8

 

 

 

8

 

 

 

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