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This excerpt taken from the USB 10-K filed Mar 2, 2009. Employee
Investment Plan The
Company has a defined contribution retirement savings plan which
allows qualified employees to make contributions up to
75 percent of their annual compensation, subject to
Internal Revenue Service limits, through salary deductions under
Section 401(k) of the Internal Revenue Code. Employee
contributions are invested,
92 U.S. BANCORP
at the employees’ direction, among a variety of investment
alternatives. Employee contributions are 100 percent
matched by the Company, up to four percent of an employee’s
eligible annual compensation. The Company’s matching
contribution vests immediately. Although the matching
contribution is initially invested in the Company’s common
stock, an employee can reinvest the matching contributions among
various investment alternatives. Total expense was
$76 million, $62 million and $58 million in 2008,
2007 and 2006, respectively.
This excerpt taken from the USB 10-K filed Feb 25, 2008. Employee
Investment Plan The
Company has a defined contribution retirement savings plan which
allows qualified employees to make contributions up to
75 percent of their annual compensation, subject to
Internal Revenue Service limits, through salary deductions under
Section 401(k) of the Internal Revenue Code. Employee
contributions are invested, at the employees’ direction,
among a variety of investment alternatives. Employee
contributions are 100 percent matched by the Company, up to
four percent of an employee’s eligible annual compensation.
The Company’s matching contribution vests immediately.
Although the matching contribution is initially invested in the
Company’s common stock, an employee can reinvest the
matching contributions among various investment alternatives.
Total expense was $62 million, $58 million and
$53 million in 2007, 2006 and 2005, respectively.
This excerpt taken from the USB 10-K filed Mar 7, 2006. Employee Investment Plan
The Company has a defined contribution
retirement savings plan which allows qualified employees to make
contributions up to 50 percent of their annual
compensation, subject to Internal Revenue Service limits,
through salary deductions under Section 401(k) of the
Internal Revenue Code. Employee contributions are invested, at
the employees’ direction, among a variety of investment
alternatives. Employee contributions are 100 percent
matched by the Company, up to four percent of an employee’s
eligible annual compensation. The Company’s matching
contribution vests immediately; however, a participant must be
employed in an eligible position on the last business day of the
year to receive that year’s matching contribution. Although
the matching contribution is initially invested in the
Company’s common stock, an employee can reinvest the
matching contributions among various investment alternatives.
Total expense was $53 million, $49 million and
$49 million in 2005, 2004 and 2003, respectively.
This excerpt taken from the USB 10-K filed Feb 28, 2005. Employee Investment Plan
The Company has a defined contribution
retirement savings plan which allows qualified employees, at
their option, to make contributions up to 50 percent of
pre-tax base salary through salary deductions under
Section 401(k) of the Internal Revenue Code. Employee
contributions are invested, at the employees’ direction,
among a variety of investment alternatives. Employee
contributions are 100 percent matched by the Company, up to
the first four percent of an employee’s compensation. The
Company’s matching contribution vests immediately; however,
a participant must be employed on December 31st to receive
that year’s matching contribution. Although the matching
contribution is initially invested in the Company’s common
stock, an employee can reinvest the matching contributions among
various investment alternatives. Total expense was
$49.1 million, $48.5 million and $50.5 million in
2004, 2003 and 2002, respectively.
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