ADP 2012 Annual Report Download - page 79

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The following table presents the investments of the pension plans measured at fair value at June 30, 2011:
In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $22.0 million as of June 30, 2011.
Contributions
During fiscal 2012, the Company contributed $91.6 million to the pension plans. In July 2012, the Company contributed $125.0 million to the
pension plans and expects to contribute an additional $8.3 million to the pension plans during its fiscal year ended June 30, 2013 (“fiscal
2013”).
Estimated Future Benefit Payments
The benefits expected to be paid in each year from fiscal 2013 to 2017 are $48.2 million, $52.8 million, $60.4 million, $67.4 million and $77.4
million, respectively. The aggregate benefits expected to be paid in the five fiscal years from 2018 to 2022 are $525.7 million. The expected
benefits to be paid are based on the same assumptions used to measure the Company’s pension plans’ benefit obligations at June 30, 2012 and
includes estimated future employee service.
C. Retirement and Savings Plan.
The Company has a 401(k) retirement and savings plan, which allows eligible employees to contribute up to
35% of their compensation annually and allows highly compensated employees to contribute up to 10% of their compensation annually. The
Company matches a portion of employee contributions, which amounted to approximately $65.9 million, $57.5 million, and $55.8 million for
the calendar years ended December 31, 2011, 2010, and 2009, respectively.
72
Level 1
Level 2
Level 3
Total
Comingled trusts
$
-
$
529.7
$
-
$
529.7
U.S. Government securities -
207.4
-
207.4
Mutual funds
283.4
-
-
283.4
Corporate and municipal bonds
-
237.7
-
237.7
Mortgage-backed security bonds -
33.1
-
33.1
Total pension assets $
283.4
$
1,007.9
$ - $
1,291.3