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Retirement Benefit Plans | 12 Months Ended
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Jan. 31, 2021
Retirement Benefits [Abstract] |
Retirement Benefit Plans | Retirement Benefit Plans Pretax Savings Plan Autodesk has a 401(k) plan that covers nearly all U.S. employees. Eligible employees may contribute up to 75% of their pretax salary, subject to limitations mandated by the Internal Revenue Service. Autodesk makes voluntary cash contributions and matches a portion of employee contributions in cash. Autodesk’s contributions were $21.6 million in fiscal 2021, $21.4 million in fiscal 2020, and $17.1 million in fiscal 2019. Autodesk does not allow participants to invest in Autodesk common stock through the 401(k) plan. Defined Benefit Pension Plans Autodesk provides certain defined benefit pension plans to employees located in countries outside of the United States, primarily the United Kingdom, Switzerland, and Japan. The Company deposits funds for specific plans, consistent with the requirements of local law, with insurance companies or third-party trustees, or into government-managed accounts, and accrues for the unfunded portion of the obligation, where material. The projected benefit obligation was $110.0 million and $103.5 million as of January 31, 2021, and January 31, 2020, respectively. The accumulated benefit obligation was $105.2 million and $97.3 million as of January 31, 2021, and January 31, 2020, respectively. The related fair value of plan assets was $107.2 million and $96.2 million as of January 31, 2021, and January 31, 2020, respectively. Our defined pension plan assets are measured at fair value and consist primarily of insurance contracts categorized as level 2 in the fair value hierarchy and an investment fund valued using net asset value. The insurance contracts represent the immediate cash surrender value of assets managed by qualified insurance companies. The assets held in the investment fund are invested in a diversified growth fund actively managed by a third party. Autodesk recognized an aggregate pension liability for the funded status of $12.1 million and $11.6 million in “Long-term other liabilities” on the Consolidated Balance Sheet as of January 31, 2021, and January 31, 2020, respectively. Our total net periodic pension plan cost (benefit) was $2.8 million, $3.7 million and $(3.1) million for fiscal years 2021, 2020, and 2019, respectively. Our expected funding for the plans during fiscal 2022 is approximately $5.5 million. Estimated Future Benefit Payments Estimated benefit payments over the next 10 fiscal years are as follows:
| Pension Benefits
2022 | $ | 2.6 |
2023 | 2.6 |
2024 | 2.7 |
2025 | 3.9 |
2026 | 2.9 |
2027-2031 | 17.1 |
Total | $ | 31.8 |
Defined Contribution Plans Autodesk also provides defined contribution plans in certain foreign countries where required by statute. Autodesk’s funding policy for foreign defined contribution plans is consistent with the local requirements in each country. Autodesk’s contributions to these plans were $31.7 million in fiscal 2021, $28.7 million in fiscal 2020, and $29.6 million in fiscal 2019. Cash Balance Plans Autodesk provides a cash balance plan that insures the risks of disability, death, and longevity, in which the vested pension capital is reinvested and provides a 100% capital and interest guarantee. The weighted-average guaranteed interest crediting rate for cash balance plans was 1%, 1%, and 1% for mandatory retirement savings and 0.1%, 0.1%, and 0.3% for supplementary retirement savings for fiscal 2021, 2020, and 2019, respectively. Other Plans In addition, Autodesk offers a non-qualified deferred compensation plan to certain key employees whereby they may defer a portion (or all) of their annual compensation until retirement or a different date specified by the employee in accordance with terms of the plan. See Note 7, “Deferred Compensation,” for further discussion.

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