Employee Benefits (Notes)

12 Months Ended

Mar. 31, 2017

Compensation and Retirement Disclosure [Abstract]

Compensation and Employee Benefit Plans [Text Block]

9. EMPLOYEE BENEFITS

Legg Mason, through its subsidiaries, maintains various defined contribution plans covering substantially all employees. Through these plans, Legg Mason can make two types of discretionary contributions. One is a profit sharing contribution to eligible plan participants based on a percentage of qualified compensation and the other is a match of employee 401(k) contributions. Matches range from 50% to 100% of employee 401(k) contributions, up to a maximum of the lesser of up to 6% of employee compensation or a specified amount up to the IRS limit. Corporate profit sharing and matching contributions, together with contributions made under subsidiary plans, totaled $37,249, $33,152 and $27,888 in fiscal 2017, 2016 and 2015, respectively. In addition, employees can make voluntary contributions under certain plans.

In connection with the acquisition of Martin Currie on October 1, 2014, Legg Mason assumed the obligations of Martin Currie's defined benefit pension plan, more fully discussed in Note 2.