Cintas Shares $22.1 Million with Employee-Partners in Fiscal Year 2011
$313 Million contributed to company’s retirement plan over past 16 Years
CINCINNATI, OH, October 7, 2011 — Cintas Corporation’s (Nasdaq: CTAS) employee-partners received an additional boost to their company retirement saving plans for fiscal 2011. The Board of Directors recently approved a contribution of $22.1 million to the Cintas Partners Plan – an eight percent increase over last year’s contribution. This raises the company’s total contribution to the retirement plan to $313.2 million over the past 16 years.
“When many other companies either ended or suspended their 401(k) contributions during the recession, Cintas continued our contributions, upholding our reputation of having one of the best benefits programs in our industry,” said Scott Farmer, Chief Executive Officer. “Our Partners Plan is a reflection of our appreciation of our employee-partners’ hard work and dedication to the company.”
Employee-partners at every level are eligible to participate in the Cintas Partners’ Plan, which includes profit sharing, 401(k) contributions and an employee stock ownership program. In addition to the retirement plan, Cintas offers 12 different health plans so employee-partners can customize their plans according to their families’ needs. In addition, Cintas also offers dental, vision, life insurance and disability insurance coverage to all employee-partners and their families.
Headquartered in Cincinnati, OH, Cintas Corporation provides highly specialized services to businesses of all types. Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services to approximately 800,000 businesses. Cintas is a publicly held company traded over the Nasdaq National Market under the symbol CTAS, and is a component of the Standard & Poor's 500 Index.