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Retirement Plans
12 Months Ended
Dec. 31, 2012
Retirement Plans  
Retirement Plans

11.               Retirement Plans

 

The Company has six defined contribution retirement plans covering substantially all salaried employees and nonunion hourly employees. Two of the plans, covering United States employees, provide for annual contributions in amounts that the Board may authorize, subject to certain limitations, but in no event more than the amounts permitted under the Internal Revenue Code as deductible expense. The other four plans, covering the Company’s European and Canadian employees, require the Company to make contributions ranging from 3% to 15% of the employees’ compensation. The total cost for these retirement plans for the years ended December 31, 2012, 2011 and 2010, was $7.7 million, $6.7 million and $6.3 million, respectively.

 

The Company also contributes to various industry-wide, union-sponsored pension funds for hourly employees who are union members and a statutorily required pension fund for employees in Switzerland. Payments to these funds aggregated $2.1 million for the year ended December 31, 2012, $1.8 million for the year ended December 31, 2011, and $1.7 million for the year ended December 31, 2010.