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May 3
Wal-Mart Paid Out $1.1 Billion to its Hourly Associates Benefit Plans Last Year

For the first time in its history Wal-Mart (WMT) has released the figures showing how much they've contributed to their associates through their numerous benefit programs.

Included in the $1.1 billion figure for the fiscal year is its 401(K) accounts, profit sharing, stock purchase plans and merchandise discounts.

In the early part of the year they also released figures on the bonus amounts they pay their associates, which came to almost $530 million for their hourly workers alone.

It's unfortunate that they couldn't quietly do this for their people without broadcasting it around. But the endless lies spoken about the company has made them reveal what they've been doing for their people for years.

In the past the company has contributed 2 percent of a worker's pay to a profit-sharing plan and another 2 percent to their 401(K) retirement plans. Associate's Wal-Mart%20Pays%20Billion%20to%20Associates.jpgreceive the 2 percent whether they contribute to the plans or not.

Reuters said that "For its fiscal year ending January 31, Wal-Mart said it contributed $667 million to 815,629 hourly associates in profit-sharing and 401(k) contributions; $51.4 million to 706,389 hourly associates toward its associate stock purchase plan; and $397 million in discounted merchandise."

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