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This excerpt taken from the NDAQ DEF 14A filed Apr 21, 2006. Pension Plans
Nasdaq provides both tax-qualified and a non-qualified savings and retirement plans. All eligible employees may participate in the tax qualified plans (both pension and savings). Participation by Nasdaq employees in the defined contribution tax-qualified 401(k) savings plan is approximately 96%. Nasdaq matches up to 4% of an employee’s eligible compensation to this plan during the year and may make an additional discretionary contribution to the plan as approved by the Nasdaq board on the Committee’s recommendation, which may vary with the financial performance of Nasdaq. No additional discretionary match was made with respect to 2005. In 2005, the Nasdaq board approved the termination of Nasdaq’s participation in the NASD Pension Plan and the establishment of the Nasdaq Pension Plan effective as of January 1, 2006.
Currently, the majority of executive officers participate in the Supplemental Executive Retirement Plan (SERP). The purpose of this plan is to attract, retain and encourage the productive efforts of a select group of senior executives who render valuable services to Nasdaq that constitute an important contribution toward Nasdaq’s continued growth and success. This plan provides supplemental retirement income to executive officers
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Table of Contentsand their beneficiaries. See “Pension Plan Tables.” There have been no new participants in the SERP since May 2003.
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