Employee Benefit Plans

12 Months Ended

Jun. 30, 2011

Defined Contribution Pension And Other Postretirement Plans Disclosure Abstract

Employee Benefit Plans

NOTE 12:  EMPLOYEE BENEFIT PLANS

Success Sharing Retirement Plan

All employees, except those of DeVry Brasil and ATC,who meet certain eligibility requirements can participate in DeVry's 401(k) Success Sharing Retirement Plan. DeVry contributes to the plan an amount up to 4.0% of the total eligible compensation of employees who make contributions under the plan. Prior to fiscal 2009, this match was up to 2% of total eligible compensation. In addition, DeVry may also make discretionary contributions for the benefit of all eligible employees. Provisions for the matching and discretionary contributions under the plan were approximately $33.1 million, $27.6 million and $19.7 million in fiscal 2011, 2010 and 2009, respectively. Prior to January 1, 2010, employees of DeVry Medical International, Inc. and Ross University participated in two separate plans and received matching contributions of up to 5% of total eligible compensation. After this date, these employees became eligible to participate in the DeVry 401(k) Success Sharing Retirement Plan.

Employee Stock Purchase Plan

Under provisions of DeVry's Employee Stock Purchase Plan, any eligible employee may authorize DeVry to withhold up to $25,000 of annual earnings to purchase common stock of DeVry at 95% of the prevailing market price on the purchase date. The purchase date is defined as the last business day of each month. DeVry subsidizes the remaining 5% and pays all brokerage commissions and administrative fees associated with the plan. These expenses were insignificant for the years ended June 30, 2011, 2010 and 2009. Total shares issued to the Plan were 30,289 and 18,502 in fiscal 2011 and 2010, respectively. This Plan is intended to qualify as an "employee stock purchase plan" within the meaning of Section 423 of the Internal Revenue Code. At the current time, DeVry is re-issuing treasury shares to satisfy employee share purchases under this plan