Edgar Filing: HENRY JACK & ASSOCIATES INC

401(k) Plan 11K/A 12-31-2011

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K/A

FOR ANNUAL REPORTS OF EMPLOYEE STOCK

PURCHASE, SAVINGS AND SIMILAR PLANS

PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

(Mark One)



(X)	ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the fiscal year ended December 31, 2011
OR

( )	TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ______________ to ________________

Commission file number 0-14112

A. Full title of the plan and address of the plan, if different from that of the issuer named below:

Jack Henry & Associates, Inc. 401(k) Retirement Savings Plan

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Jack Henry & Associates, Inc.

663 Highway 60, P.O. Box 807, Monett, MO 65708

Explanatory Note

The Annual Report on Form 11−K of the Jack Henry & Associates, Inc. 401(K) Retirement Savings Plan for the fiscal year ended December 31, 2011, filed on June 25, 2012 (the "Initial Report" ), is amended by the filing of this Form 11−K Amendment No. 1 to the Initial Report for the purpose of amending the date, location and conformed signature on the Report of Independent Registered Public Accounting Firm and amending the date and conformed signature on the Consent of Independent Registered Public Accounting Firm (Exhibit 23). For the convenience of the reader, this Form 11−K/A sets forth the Initial Report in its entirety.

No other amendments have been made to the Initial Report. This Form 11−K/A does not modify or update the disclosures therein, except as specifically identified above.

REQUIRED INFORMATION

The following financial statements and schedules have been prepared in accordance with the financial reporting requirements of the Employee Retirement Income Security Act of 1974, as amended:


1.	Statements of Net Assets Available for Plan Benefits as of December 31, 2011 and 2010.


2.	Statement of Changes in Net Assets Available for Plan Benefits for the Year Ended December 31, 2011.


3.	Supplemental Schedule - Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2011.


4.	Supplemental Schedule - Form 5500, Schedule H, Part IV, Question 4a - Schedule of Delinquent Participant Contributions for the Year Ended December 31, 2011.

EXHIBITS

23. Consent of Independent Registered Public Accounting Firm

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

JACK HENRY & ASSOCIATES, INC.

401(K) RETIREMENT SAVINGS PLAN

By: /s/ Kevin D. Williams

Kevin D. Williams, Chief Financial Officer

Date: June 28, 2012

Jack Henry & Associates, Inc.

401(k) Retirement Savings Plan

Financial Statements as of December 31, 2011 and

2010 and for the Year Ended December 31, 2011,

Supplemental Schedules as of and for the year ended

December 31, 2011, and Report of Independent

Registered Public Accounting Firm

JACK HENRY & ASSOCIATES, INC.

401(k) RETIREMENT SAVINGS PLAN

TABLE OF CONTENTS



	Page

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	1

FINANCIAL STATEMENTS:

Statements of Net Assets Available for Benefits as of December 31, 2011 and 2010	2

Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2011	3

Notes to Financial Statements	4

SUPPLEMENTAL SCHEDULES

Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2011	13

Form 5500, Schedule H, Part IV, Question 4a - Schedule of Delinquent Participant Contributions for the Year Ended December 31, 2011	14


NOTE:	All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees

Jack Henry & Associates, Inc.

401(k) Retirement Savings Plan:

We have audited the accompanying statements of net assets available for benefits of the Jack Henry & Associates, Inc. 401(k) Retirement Savings Plan (the “Plan”) as of December 31, 2011 and 2010, and the related statement of changes in net assets available for benefits for the year ended December 31, 2011. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2011 and 2010, and the changes in net assets available for benefits for the year ended December 31, 2011, in conformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules listed in the table of contents are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These schedules are the responsibility of the Plan's management. Such schedules have been subjected to the auditing procedures applied in our audit of the basic 2011 financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole.

/s/ DELOITTE & TOUCHE LLP

Dallas, Texas

June 28, 2012

JACK HENRY & ASSOCIATES, INC.

401(k) RETIREMENT SAVINGS PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

AS OF DECEMBER 31, 2011 AND 2010



	2011		2010
ASSETS:
Participant-directed investments	$	246,286,642	$	223,386,820

Receivables:
Notes receivable from participants	9,306,535		7,177,507
Employer contributions	369,206		—
Employee contributions	711,220		—
Total receivables	10,386,961		7,177,507

NET ASSETS AVAILABLE FOR BENEFITS	$	256,673,603	$	230,564,327

See notes to financial statements.

JACK HENRY & ASSOCIATES, INC.

401(k) RETIREMENT SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

FOR THE YEAR ENDED DECEMBER 31, 2011



ADDITIONS:
Employer contributions	$	10,946,454
Participant contributions	19,774,303
Rollover accounts for new Plan participants	2,805,887
Net depreciation in fair value of investments	(1,620,713		)
Dividends	2,044,949
Interest and other income	1,299,281
Interest income on notes receivable from participants	274,444
Total additions	35,524,605

DEDUCTIONS:
Administrative expenses	29,400
Distributions to participants	9,385,929
Total deductions	9,415,329

INCREASE IN NET ASSETS	26,109,276

NET ASSETS AVAILABLE FOR BENEFITS - Beginning of year	230,564,327

NET ASSETS AVAILABLE FOR BENEFITS - End of year	$	256,673,603

See notes to financial statements.

JACK HENRY & ASSOCIATES, INC.

401(k) RETIREMENT SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2011 AND 2010 AND FOR THE YEAR ENDED DECEMBER 31, 2011

1. DESCRIPTION OF PLAN

The following description of the Jack Henry & Associates, Inc. 401(k) Retirement Savings Plan (the “Plan”) provides only general information. Participants should refer to the summary plan description for a more complete description of the Plan's provisions.

General - The Plan is a defined contribution 401(k) plan benefiting Jack Henry & Associates, Inc. (the “Company”) employees. An eligible employee must have attained the age of 18 and completed 30 days of service to be a participant. Participants are eligible to receive safe harbor employer matching contributions (“Safe Harbor Contributions”) after six months of service. Additionally, the Company may make a Company discretionary contribution to all eligible employees who meet the same minimum service requirement, and the Company may also make an applicable qualified non-elective contribution (QNEC) to each non-highly compensated employee, actively employed on the last day of the Plan year, who has completed a year of service (1000 hours of service.), if otherwise required under the Plan. The Company is the Plan Administrator and Prudential Bank and Trust, FSB (“Prudential” or “Plan Trustee”) was appointed the Plan Trustee to, among other things, hold and invest the Plan's investments in accordance with the direction of the Plan Administrator and terms of the Plan. The Plan is subject to the Employee Retirement Income Security Act of 1974, as amended (ERISA).

The Plan also contains an Employee Stock Ownership Plan (ESOP) component that provides for a portion of the Plan's assets to be invested in Jack Henry & Associates, Inc. common stock. Participants are provided the option of receiving a direct cash distribution of any dividends paid on such stock held in participant elective contribution accounts and, if they are 100% vested as of the dividend record date, the Company will match those contribution accounts.

Contributions - Effective January 1, 2011, the Plan was amended to provide for an automatic deferral of 2% of compensation for new participants, when no other election is made. In 2011, the Plan was also amended to allow post-tax “Roth” deferrals by participants effective July 1, 2011. Participants may elect to defer applicable salary and compensation amounts into the Plan, up to the maximum contribution allowable under section 401(k) of the Internal Revenue Code (IRC). The total amount that a participant could elect to contribute to the Plan on a pre-tax basis in 2011 could not exceed $16,500. If a participant reached age 50 by December 31, 2011, they were able to contribute an additional $5,500 “catch up” contribution to the Plan on a pre-tax basis.

The Company matches 100% of participant contributions up to a maximum of the lesser of 5% of the participant's eligible compensation or $5,000. In addition to the Company matching contributions, the Company may make other discretionary contributions, as well as Company QNEC contributions equal to a uniform percentage of each participant's eligible compensation, which is determined each year by the Company. No Company discretionary or other QNEC contributions were made in 2011.

Participant Accounts - Individual accounts are maintained for each Plan participant. Each participant's account is credited with the participant's contribution, Safe Harbor Contributions, Company contribution account, and/or allocations of Company QNEC contributions and Plan investment earnings, and charged with withdrawals and an allocation of Plan investment losses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

Investments - Participants direct the investment of their contributions and Company contributions into various investment options offered by the Plan. The Plan currently offers Jack Henry & Associates, Inc. common stock, twenty-two mutual funds, eight pooled separate accounts and a guaranteed investment contract (GIC), as investment options for participants.

Vesting - Participants are vested immediately in their voluntary contributions, Safe Harbor Contributions, and the earnings on these contributions. Vesting in the Company contribution and other QNEC portion of their accounts, if applicable, is based on years of service with an employee vesting 20% after two years of service and subsequently

vesting 20% each year until becoming fully vested with six years of continuous service.

Participant Loans - Participants may borrow, as defined in the Plan, from their fund accounts a minimum amount of $1,000 up to the lesser of (1) $50,000 less the amount of highest outstanding loan balance in the previous 12 months or (2) 50% of their vested account balances. Loan terms range from one to five years, unless the loan is to be used to purchase the participant's principal residence, in which case the term may extend beyond five years. The loans are secured by the balance in the participant's account and bear interest at a rate as defined by the Plan (ranging from 3.25% to 11.00% as of December 31, 2011). Principal and interest are paid through payroll deductions.

Payment of Benefits - Upon termination of service due to death, disability, or retirement, a participant/beneficiary may elect to receive a lump-sum amount equal to the value of his or her account as soon as administratively feasible following the date on which a distribution is requested or is otherwise payable. A participant/beneficiary may also elect to receive the value of his or her account in installment payments or have the balance rolled over into an individual retirement account.

Forfeited Accounts - At December 31, 2011 and 2010, forfeited nonvested accounts totaled $30,819 and $46,248, respectively. These accounts are used first as restoration of participant's forfeitures, then as offset to Plan expenses, then as a reduction to future Company discretionary contributions. Forfeitures are restored when a participant is rehired and had previously forfeited any fund balance in the Company contribution account, including any applicable QNEC source.

2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting - The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).

Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from those estimates.

Risk and Uncertainties - The Plan utilizes various investment instruments, including common stock, mutual funds, pooled separate accounts and a GIC. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.

Investment Valuation and Income Recognition - The Plan's investments are stated at fair value. Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company's common stock is valued at the closing price reported on the NASDAQ Stock Market on the last business day of the Plan year. Shares of mutual funds are valued at the net asset value of shares held by the Plan at year-end.

The units of pooled separate accounts are stated at fair value as determined by the issuer of the account based on the fair value of the underlying investments. Individual participant accounts invested in the pooled separate accounts are maintained on a unit value basis. The Plan's GIC with Prudential is valued at contract value, which is equal to fair value (see Note 5).

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.

Management fees and operating expenses charged to the Plan for investments in the mutual funds are deducted from income earned on a daily basis and are not separately reflected. Consequently, management fees and operating expenses are reflected as a reduction of investment return for such investments.

Notes Receivable from Participants - Notes receivable from participants are measured at their unpaid principal balance plus any accrued, but unpaid interest. Delinquent participant loans are recorded as distributions, based on the terms of the Plan document.

Administrative Expenses - Administrative expenses of the Plan are paid by either the Plan or the Company, as

provided in the Plan document.

Benefits Payable - Benefits are recorded when paid. As of December 31, 2011 and 2010, there were no distributions payable to Plan participants.

New Accounting Standards - The accounting standard initially adopted in 2011 is described below.

ASU No. 2010-06, Fair Value Measurements and Disclosures - In January 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2010-06, Fair Value Measurements and Disclosures, which amends ASC 820, Fair Value Measurements and Disclosures, adding a new disclosure requirement to provide Level 3 activity of purchases, sales, issuances, and settlements on a gross basis. This requirement is effective for fiscal years beginning after December 15, 2010. The adoption in 2011 did not materially affect the Plan's financial statements.

New Accounting Standards Not Yet Effective -

ASU No. 2011-04 - In May 2011, the FASB issued ASU No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs, which amends ASC 820. ASU 2011-04 also requires the categorization by level for items that are only required to be disclosed at fair value and information about transfers between Level 1 and Level 2. In addition, the ASU provides guidance on measuring the fair value of financial instruments managed within a portfolio and the application of premiums and discounts on fair value measurements. The ASU requires additional disclosure for Level 3 measurements regarding the sensitivity of fair value to changes in unobservable inputs and any interrelationships between those inputs. The new guidance is effective for reporting periods beginning after December 15, 2011. The adoption will not have a material effect on the statement of net assets available for benefits and statement of changes in net assets available for benefits. Plan management has not determined the impact on the disclosures in the financial statements.

3. FAIR VALUE MEASUREMENTS

ASC 820, Fair Value Measurements and Disclosures, provides a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value, as follows: Level 1, which refers to securities valued using unadjusted quoted prices from active markets for identical assets; Level 2, which refers to securities not traded on an active market but for which observable market inputs are readily available; and Level 3, which refers to securities valued based on significant unobservable inputs. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Asset Valuation Techniques - Fixed income separate accounts are categorized as Level 2. They are valued using third party pricing services. These services use, for example, model-based pricing methods that use observable market data as inputs. Broker dealer bids or quotes of securities with similar characteristics may also be used.

U.S. and global equity separate accounts are categorized as Level 1 if the securities trade on national or international exchanges and are valued at their last reported closing price.

The Company's common stock is valued at the closing price reported on the active market on which the securities are traded [NASDAQ Global Select] on the last business day of the Plan year. The Company's common stock is categorized as Level 1.

Shares of registered investment companies held are primarily categorized as Level 1; they are valued at quoted market prices that represent the net asset value of shares held at Plan year-end.

The following tables, set forth by level within the fair value hierarchy, is a summary of the Plan's investments measured at fair value on a recurring basis at December 31, 2011 and 2010:



	December 31, 2011
	Active Markets for identical assets (Level 1)		Other Observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Mutual funds:
Balanced funds	$	24,187,932	$	—	$	—	$	24,187,932
Fixed income fund	2,730,269		—		—		2,730,269
International fund	22,009,602		—		—		22,009,602
Domestic stock funds	79,431,757		—		—		79,431,757
Total mutual funds	128,359,560		—		—		128,359,560

Pooled separate accounts:
Balanced funds	—		1,901,945		—		1,901,945
Domestic stock funds	—		20,286,605		—		20,286,605
Fixed income fund	—		16,367,146		—		16,367,146
Total pooled separate accounts	—		38,555,696		—		38,555,696

Guaranteed Investment Contract	—		36,544,265		—		36,544,265
Common stock - software	42,827,121		—		—		42,827,121

Total investments at fair value	$	171,186,681	$	75,099,961	$	—	$	246,286,642



	December 31, 2010
	Active Markets for identical assets (Level 1)		Other Observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Mutual funds:
Balanced funds	$	22,898,789	$	—	$	—	$	22,898,789
Fixed income fund	1,779,255		—		—		1,779,255
International fund	18,149,529		—		—		18,149,529
Domestic stock funds	81,411,921		—		—		81,411,921
Total mutual funds	124,239,494		—		—		124,239,494

Pooled separate accounts:
Balanced funds	—		1,496,609		—		1,496,609
Domestic stock funds	—		14,764,291		—		14,764,291
Fixed income fund	—		14,984,876		—		14,984,876
Total pooled separate accounts	—		31,245,776		—		31,245,776

Guaranteed Investment Contract	—		30,423,446		—		30,423,446
Common stock - software	37,478,104		—		—		37,478,104

Total investments at fair value	$	161,717,598	$	61,669,222	$	—	$	223,386,820

The valuation methods as described above and in Note 2, may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The Plan's policy is to recognize significant transfers between levels at the end of the reporting period. For the years ended December 31, 2011 and 2010, there were no significant transfers in or out of Levels 1, 2, or 3.

4. INVESTMENTS

The components of the Plan's individual investments, which represent 5% or more of the Plan's net assets available for benefits at December 31, 2011 and 2010, were as follows:



		2011			2010
*	Common stock - Jack Henry & Associates, Inc.	$	42,827,121		$	37,478,104
*	Prudential - Guaranteed Income Fund	36,544,265			30,423,446
	JP Morgan Funds - Large Cap Growth Select Fund	24,899,654			—		**
	American Funds - Europac Fund	22,009,602			18,149,529
	Blackrock Funds - Blackrock Eq Dividend 1	19,404,529			17,865,327
*	Prudential - Core Plus Bond/PIMCO Fund	16,367,146			14,984,876
	Invesco Funds - Charter Institutional Fund	12,896,738			—		**
	American Funds - Growth Fund	—		**	26,984,450
	Davis NY Venture A	—		**	13,696,429

* Represents a party-in-interest to the Plan

** Amount was zero (less than 5%) as of December 31 but is presented for comparative purposes

During 2011, the Plan's investments (including gains and losses on investments bought, sold, as well as held during the year) (depreciated)/appreciated, as follows:



	2011
American Funds — Growth Fund	$	(1,534,963	)
American Funds — Europac Fund	(3,622,087		)
Baron Funds — Baron Asset Fund	54,039
Diamond Hill — Small Cap Fund	(638,057		)
Davis NY Venture A	(755,938		)
Loomis Sayles Funds — Loomis Small Cap Growth Fund	101,033
Blackrock Funds — Blackrock Eq Dividend I	637,477
Blackrock Funds - Inflation Protect Fund	29,216
JP Morgan Funds — JP Morgan Gov’t Bond A	86,961
T Rowe Price Funds — T Rowe Blue Chip Fund	31,196
T Rowe Price Funds — T Rowe RA 2005	(4,267		)
T Rowe Price Funds — T Rowe RA 2010	(31,240		)
T Rowe Price Funds — T Rowe RA 2015	(11,165		)
T Rowe Price Funds — T Rowe RA 2020	(153,039		)
T Rowe Price Funds — T Rowe RA 2025	(22,480		)
T Rowe Price Funds — T Rowe RA 2030	(328,838		)
T Rowe Price Funds — T Rowe RA 2035	(31,244		)
T Rowe Price Funds — T Rowe RA 2040	(460,213		)
T Rowe Price Funds — T Rowe RA 2045	(9,697		)
T Rowe Price Funds — T Rowe RA 2050	(2,433		)
T Rowe Price Funds — T Rowe RA 2055	1,304
T Rowe Price Funds — T Rowe RA Income Fund	(18,538		)
Vanguard Funds — Vanguard Ext Mkt Fund	46,198
Vanguard Funds - Vanguard Ext Mkt Index Fund	(233,946		)
*Common stock — Jack Henry & Associates, Inc.	5,788,720
*Prudential Retirement Insurance and Annuity Company — Core Plus Bond / PIMCO Fund	321,535
*Prudential Retirement Insurance and Annuity Company — Mid Cap Value/CRM Fund	(668,713		)
*Prudential Retirement Insurance and Annuity Company - MC GR/Goldman Sachs Fund	(281,297		)
*Prudential Retirement Insurance and Annuity Company — IFX Long-term Growth Fund (I)	(6,457		)
*Prudential Retirement Insurance and Annuity Company — IFX Long-term Income & Equity Fund (I)	145
*Prudential Retirement Insurance and Annuity Company — Dryden S & P 500 Index Fund	99,877
*Prudential Retirement Insurance and Annuity Company — IFX Long-term Balanced Fund (I)	(2,000		)
*Prudential Retirement Insurance and Annuity Company — IFX Long-term Conservative Fund (I)	(1,802		)
	$	(1,620,713	)

* Represents a party-in-interest to the Plan

5. INVESTMENT CONTRACT WITH INSURANCE COMPANY

The Plan has a fully benefit-responsive GIC with Prudential. Prudential maintains the contributions in a general account, which is credited with earnings and charged for participant withdrawals and administrative expenses. The GIC is included in the financial statements at fair value, which is equal to contract value. The concept of a value other than contract value does not apply to this GIC even upon a discontinuance of the contract in which case contract value would be paid no later than 90 days from the date the sponsor provides notice to discontinue. There are no specific securities in the general account that back the liabilities of this annuity contract and it would be inappropriate to look to the market value of the securities within the insurer's general account to determine a fair value. The insurer owns a promise to pay interest at crediting rates, which are announced in advance and guaranteed for a six-month period. This contract is not a traditional GIC and therefore there are no cash flows that could be discounted. As a result, the

fair value of the GIC is equal to the contract value. Contract value represents contributions made under the contract, plus transfers to the fund and credited interest, less participant withdrawals, transfers out of the fund and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value.

Limitations on the Ability of the GIC to Transact at Contract Value - The GIC does not have any restrictions that impact the ability of the Plan to collect the full contract value. However, the GIC does allow disbursements to be deferred over a period of time if the value of the disbursements exceeds 10% of the total beginning net assets of the guaranteed income fund pool in which the GIC belongs. Plan management believes that the occurrence of events that would cause the Plan to transact at less than contract value is not probable. Prudential may not terminate the contract at any amount less than the contract value.

Average Yields - Prudential is contractually obligated to pay the principal and specified interest rate that is guaranteed to the Plan. The crediting interest rate is based on a formula agreed upon with Prudential, but may not be less than 1.50%. Such interest rates are reviewed on a semi-annual basis for resetting. The crediting rate of the product will be established based on current economic and market conditions, the general interest rate environment, and both the expected and actual experience of a reference portfolio within the issuer's general account. These rates are established without the use of a specific formula.



	December 31, 2011	December 31, 2010
Average yields:
Based on annualized earnings (1)	3.15 %	3.50 %
Based on interest rate credited to participants (2)	3.15 %	3.50 %


(1)	Computed by dividing the annualized one-day actual earnings of the contract on the last day of the Plan year by the fair value of the investments on the same date.


(2)	Computed by dividing the annualized one-day earnings credited to participants on the last day of the Plan year by the fair value of the investments on the same date.

6. EXEMPT PARTIES-IN-INTEREST TRANSACTIONS

Certain Plan investments are shares of mutual funds and a guaranteed investment contract, managed by Prudential. Prudential is the Plan Trustee, as defined by the Plan, and these transactions qualify as exempt party-in-interest transactions. In addition, the Company pays certain fees on behalf of the Plan for accounting services.

At December 31, 2011 and 2010, the Plan held 1,274,237 and 1,285,698 shares, respectively, of common stock of the Company, the sponsoring employer, with a cost basis of $24,872,615 and $23,751,937, respectively. During the year ended December 31, 2011, the Plan received $536,189 in dividend income.

7. PLAN TERMINATION

Although it has not expressed an intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA. In the event of plan termination, employees become 100% vested in any non-vested portion of their accounts.

8. FEDERAL INCOME TAX STATUS

The Plan was restated to comply with applicable law changes and updates effective December 1, 2008, and an application for an Internal Revenue Service (IRS) determination letter was filed on April 15, 2010. Although the Plan has been amended since filing for a new determination letter, the Plan Administrator reasonably believes that the Plan, as restated and amended, is designed and is being operated in compliance with applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the Plan's financial statements.

GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the relevant taxing authority. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations

for years prior to 2008.

9. NONEXEMPT PARTY-IN-INTEREST TRANSACTION

The Company remitted certain 2011 participant contributions totaling $29,696 to the trustee later than required by Department of Labor (DOL) Regulation 2510.3-102. The Company intends to credit participant accounts with the amounts of investment income that would have been earned had the participant contributions been remitted on a timely basis. The Company intends to file an application for a compliance statement from the DOL under the Voluntary Fiduciary Correction Program (VFCP) to correct these untimely contributions.

10. NET ASSET VALUE (NAV) PER SHARE

The following tables for December 31, 2011 and 2010, set forth a summary of the Plan's investments with a reported NAV.

Fair Value Estimated Using Net Asset Value per Share

December 31, 2011

Investment

Fair Value *

Unfunded Commitment

Redemption Frequency

Other Redemption Restrictions

Redemption Notice Period

Equity Index Funds (a)

20,286,605

—

Immediate

Up to 30 days if negative cash flow

None

Balanced Funds (b)

1,901,945

—

Immediate

Up to 30 days if negative cash flow

None

Bond Funds (c)

16,367,146

—

Immediate

Up to 30 days if negative cash flow

None

Total

38,555,696

—

Fair Value Estimated Using Net Asset Value per Share

December 31, 2010

Investment

Fair Value *

Unfunded Commitment

Redemption Frequency

Other Redemption Restrictions

Redemption Notice Period

Equity Index Funds (a)

14,764,291

—

Immediate

Up to 30 days if negative cash flow

None

Balanced Funds (b)

1,496,609

—

Immediate

Up to 30 days if negative cash flow

None

Bond Funds (c)

14,984,876

—

Immediate

Up to 30 days if negative cash flow

None

Total

31,245,776

—

*The fair values of the investments have been estimated using the net asset value of the investment.


(a)	Equity index fund strategies seek to replicate the movements of an index of a specific financial market, such as the Standards & Poors' (S&P) 500 Index or Russell Midcap Value Index, regardless of market conditions.

(b) The balanced fund strategies seek to consistently outperform its benchmarks over full market cycles. These funds invest in a family of funds comprised of five distinct, multi-asset class, multi-manager investment portfolios, which offer a range of risk/return characteristics. The investment objectives of each of the five funds varies in keeping with the desired risk tolerance and associated asset allocation of the underlying portfolio.


(c)	The bond fund strategies seek to exceed the return of the Barclays Capital U.S. Aggregate Bond Index, consistent with preservation of capital by investing in a diversified portfolio of fixed income securities.

SUPPLEMENTAL SCHEDULES

JACK HENRY & ASSOCIATES, INC.

401(k) RETIREMENT SAVINGS PLAN

EIN: 43-1128385

Plan Number: 003

FORM 5500, SCHEDULE H, PART IV, LINE 4i

SCHEDULE OF ASSETS (HELD AT END OF YEAR)

AS OF DECEMBER 31, 2011



Description of Investment	Fair Value
American Funds — Europac Fund	$	22,009,602
Blackrock Funds - Blackrock Eq Dividends I	19,404,529
Blackrock Funds - Blackrock Inflation Protect Fund	2,229,347
Diamond Hill — Small Cap Fund	5,783,277
Invesco Funds - Invesco Charter Institutional Fund	12,896,738
JP Morgan Funds — JP Morgan Gov’t Bond A	2,730,269
JP Morgan Funds - Large Cap Growth Select Fund	24,899,654
Loomis Sayles - Loomis Small Cap Growth Fund	8,450,931
T Rowe Price Funds — T Rowe Blue Chip Fund	2,610,377
T Rowe Price Funds — T Rowe RA 2005 Fund	115,797
T Rowe Price Funds — T Rowe RA 2010 Fund	1,447,234
T Rowe Price Funds — T Rowe RA 2015 Fund	378,051
T Rowe Price Funds — T Rowe RA 2020 Fund	4,003,361
T Rowe Price Funds — T Rowe RA 2025 Fund	536,506
T Rowe Price Funds — T Rowe RA 2030 Fund	6,936,058
T Rowe Price Funds — T Rowe RA 2035 Fund	620,446
T Rowe Price Funds — T Rowe RA 2040 Fund	8,429,762
T Rowe Price Funds — T Rowe RA 2045 Fund	153,306
T Rowe Price Funds — T Rowe RA 2050 Fund	109,444
T Rowe Price Funds — T Rowe RA 2055 Fund	84,501
T Rowe Price Funds — T Rowe RA Income Fund	1,373,466
Vanguard Fund — Vanguard Ext Mkt Index Fund	3,156,904
*Prudential Retirement Insurance and Annuity Company — Core Plus Bond / PIMCO Fund	16,367,146
*Prudential Retirement Insurance and Annuity Company — Mid Cap Value/CRM Fund	8,074,727
*Prudential Retirement Insurance and Annuity Company - MC GR/Goldman Sachs Fund	5,303,748
*Prudential Retirement Insurance and Annuity Company — IFX Long-term Growth Fund (I)	949,508
*Prudential Retirement Insurance and Annuity Company — IFX Long-term Balanced Fund (I)	561,686
*Prudential Retirement Insurance and Annuity Company — FX Long-term Conservative Fund (I)	378,573
*Prudential Retirement Insurance and Annuity Company — FX LT Income & Equity Fund (I)	12,177
*Prudential Retirement Insurance and Annuity Company — Dryden S & P 500 Index Fund	6,908,131
Mutual fund and pooled separate account total	166,915,256

*Prudential Retirement Insurance and Annuity Company — Guaranteed Income Fund	36,544,265

*Common Stock — Jack Henry & Associates, Inc.	42,827,121

*Notes receivable from participants (interest rate ranging from 3.25% to 11.00%; maturity dates ranging from 2012 to 2021)	9,306,535

TOTAL	$	255,593,177

* Represents a party-in-interest to the Plan

JACK HENRY & ASSOCIATES, INC.

401(k) RETIREMENT SAVINGS PLAN

EIN: 43-1128385

Plan Number: 003

FORM 5500, SCHEDULE H, PART IV, QUESTION 4a

SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS

FOR THE YEAR ENDED DECEMBER 31, 2011



	Total That Constitute Nonexempt Prohibited
	Transactions
	Contributions Not Corrected		Contributions Corrected Outside VFCP		Contributions Pending Correction in VFCP		Total Fully Corrected under VFCP and PTE 2002-51
Participant Contributions Transferred Late to the Plan	$	29,696	$	—	$	—	$	—