Intel 1996 Annual Report Download - page 60

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Please find page 60 of the 1996 Intel annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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The Company also provides a non-qualified profit-sharing retirement plan (the "Non-Qualified Plan") for the benefit of eligible employees in
the U.S. This plan is designed to permit certain discretionary employer contributions in excess of the tax limits applicable to the Qualified
Plans and to permit employee deferrals in excess of certain tax limits. This plan is unfunded.
The Company accrued $209 million for the Qualified Plans and the Non-Qualified Plan in 1996 ($188 million in 1995 and $152 million in
1994). Of the $209 million accrued in 1996, the Company expects to fund approximately $181 million for the 1996 contribution to the
Qualified Plans and to allocate approximately $10 million for the Non-Qualified Plan. The remainder, plus approximately $177 million carried
forward from prior years, is expected to be contributed to these plans when allowable under IRS regulations and plan rules.
Contributions made by the Company vest based on the employee's years of service. Vesting begins after three years of service in 20% annual
increments until the employee is 100% vested after seven years.
The Company provides tax-qualified defined-benefit pension plans for the benefit of eligible employees in the U.S. and Puerto Rico. Each plan
provides for minimum pension benefits that are determined by a participant's years of service, final average