AbbVie 2014 Annual Report Download - page 163
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13NOV201221352027
Pension Benefits Table
R. Gonzalez AbbVie Pension Plan 34 $456,241 $0
AbbVie Supplemental Pension Plan 34 10,435,742 319,807(2)
M. Severino AbbVie Pension Plan <1 18,610 0
AbbVie Supplemental Pension Plan <1 170,007 0
C. Alban AbbVie Pension Plan 28 738,968 0
AbbVie Supplemental Pension Plan 28 5,477,406 684,641(2)
L. Schumacher AbbVie Pension Plan 24 639,023 0
AbbVie Supplemental Pension Plan 24 7,372,680 2,829,857(2)
W. Chase AbbVie Pension Plan 26 472,841 0
AbbVie Supplemental Pension Plan 26 2,794,485 212,578(2)
(1) AbbVie calculates these present values using: (i) a 4.45% 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 AbbVie Pension Plan and age 60 under the AbbVie
Supplemental Pension Plan for those participants who are eligible for early retirement benefits and which is age 65
under both plans for other participants. The present values shown in the table reflect postretirement mortality,
based on the Financial Accounting Standards Board ASC Topic 715 assumption (the RP2014 Healthy Annuitant table
with MP2014 mortality improvement scale), but do not include a factor for preretirement termination, mortality, or
disability.
(2) During 2014, the amounts shown, less applicable tax withholdings, were distributed and deposited into the
individual grantor trusts established by the NEOs and included in the NEOs’ income. 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, are distributed to the participants’ individual grantor trusts and
included in their income. Amounts held in an NEO’s individual trust are expected to offset AbbVie’s obligations to
him or her under the plan. Grantor trusts are described in greater detail in the section of this proxy statement
captioned ‘‘Compensation Plan Elements—Benefits—Retirement Benefits.’’
2015 Proxy Statement 43
Present
Number of Value of Payments
Years Accumulated During Last
Credited Benefit Fiscal Year
Name Plan Name Service (#) ($)(1) ($)
EXECUTIVE COMPENSATION