AbbVie 2012 Annual Report Download - page 155

Pension Benefits Table
Present
Number of Value of Payments
Years Accumulated During
Credited Benefit Last Fiscal Year
Name Plan Name Service (#) ($)(1) ($)
R. A. Gonzalez(3) . . . Abbott Laboratories Annuity Retirement Plan 27 $ 310,915 $521,069
Abbott Laboratories Supplemental Pension Plan 27 6,358,988 0
L. J. Schumacher . . . Abbott Laboratories Annuity Retirement Plan 22 439,630 0
Abbott Laboratories Supplemental Pension Plan 22 4,517,121 219,656(2)
W. J. Chase ....... Abbott Laboratories Annuity Retirement Plan 24 367,243 0
Abbott Laboratories Supplemental Pension Plan 24 957,075 53,113(2)
C. Alban ......... Abbott Laboratories Annuity Retirement Plan 26 592,259 0
Abbott Laboratories Supplemental Pension Plan 26 3,083,654 181,047(2)
J. M. Leonard ..... Abbott Laboratories Annuity Retirement Plan 21 652,279 0
Abbott Laboratories Supplemental Pension Plan 21 4,556,239 300,604(2)
(1) Abbott calculates these present values using: (i) a 4.49% discount rate, the same discount rate it uses
for Financial Accounting Standards Board ASC Topic 715 calculations for financial reporting purposes;
and (ii) each plan’s unreduced retirement age, which is age 62 under the Abbott Laboratories Annuity
Retirement Plan and age 60 under the Abbott Laboratories Supplemental Pension Plan for those
officers who are eligible for early retirement benefits and is age 65 under both plans for other officers.
The present values shown in the table reflect postretirement mortality, based on the Financial
Accounting Standards Board ASC Topic 715 assumption (the RP2000 Combined Healthy table), but do
not include a factor for preretirement termination, mortality, or disability.
(2) Consistent with the distribution requirements of Internal Revenue Code Section 409A and its
regulations, vested Supplemental Pension Plan benefits, to the extent not previously funded, were
distributed to the participants’ individual grantor trusts and included in the participants’ income.
Amounts held in the officer’s individual trust are expected to offset Abbott’s obligations to the officer
under the plan. During 2012, the amounts shown, less applicable tax withholdings, were deposited in
such individual trusts established by the named executive officers. Grantor trusts are described in
greater detail in the section of this proxy statement captioned ‘‘Compensation Discussion and Analysis—
Post Termination and Other Benefits—Retirement Benefits.’’
(3) Mr. Gonzalez retired from Abbott in 2007 and began receiving payments from the Abbott Laboratories
Annuity Retirement Plan and distributions from his Abbott Laboratories Supplemental Pension Plan
grantor trust. When he returned to work at Abbott in 2009, he continued to receive previously earned
Abbott retiree benefits through December 31, 2012.
A portion of Mr. Gonzalez’s accumulated benefit under the Abbott Laboratories Annuity Retirement
Plan was assigned to his ex-spouse in accordance with a qualified domestic relations order. The assigned
amount is included in the ‘‘Payments During Last Fiscal Year’’ column above and Mr. Gonzalez no
longer has any interest in that amount. A portion of Mr. Gonzalez’s accumulated benefit under the
Abbott Laboratories Supplemental Pension Plan also was assigned to his ex-spouse in accordance with a
domestic relations order, resulting in the transfer of grantor trust assets of $5,196,751 to his ex-spouse.
Mr. Gonzalez no longer has any interest in that amount. His ex-spouse will not accrue any additional
pension benefits under any AbbVie or Abbott plan.
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