Alaska Airlines and Horizon Air 2013 Annual Report Download - page 76

EXECUTIVE COMPENSATION
PENSION AND OTHER RETIREMENT PLANS
The Company maintains two primary defined-
benefit pension plans covering the Named
Executive Officers other than Mr. Pedersen and
Mr. Minicucci. (Mr. Pedersen and Mr. Minicucci
participate in the defined contribution plans as
described below.) The Alaska Air Group, Inc.
Retirement Plan for Salaried Employees (the
Salaried Retirement Plan) is the qualified
defined-benefit employee retirement plan, and
the Named Executive Officers other than
Mr. Pedersen and Mr. Minicucci participate in
this plan on the same general terms as other
eligible employees. The Named Executive
Officers other than Mr. Pedersen and
Mr. Minicucci also participate in the Alaska Air
Group, Inc. 1995 Elected Officers Supplementary
Retirement Plan (the Supplementary Retirement
Plan).
The following table presents information
regarding the present value of accumulated
benefits that may become payable to the Named
Executive Officers under the qualified and
nonqualified defined-benefit pension plans.
Name
(a)
Plan Name
(b)
Number of Years
Credited
Service(1)
(#)
(c)
Present Value of
Accumulated Benefit(1)
($)
(d)
Payments During
Last Fiscal Year
($)
(e)
Bradley D. Tilden Salaried Retirement Plan 22.84 996,130 N/A
Supplementary Retirement Plan 14.92 1,868,915 N/A
Brandon S. Pedersen(2) Salaried Retirement Plan N/A N/A N/A
Supplemental Retirement Plan N/A N/A N/A
Glenn S. Johnson Salaried Retirement Plan 15.74 673,466 N/A
Supplementary Retirement Plan 10.45 2,125,320 N/A
Benito Minicucci(2) Salaried Retirement Plan N/A N/A N/A
Supplemental Retirement Plan N/A N/A N/A
Keith Loveless Salaried Retirement Plan 27.42 1,444,792 N/A
Supplementary Retirement Plan 17.57 1,669,399 N/A
(1) The years of credited service and present value of accumulated benefits shown in the table above are
presented as of December 31, 2013 assuming that each Named Executive Officer retires at normal retirement
age and that benefits are paid out in accordance with the terms of each plan described below. For a
description of the material assumptions used to calculate the present value of accumulated benefits shown
above, please see Note 8 (Employee Benefits Plans) to the Company’s Consolidated Financial Statements,
included as part of the Company’s 2013 Annual Report filed on Form 10-K with the SEC and incorporated
herein by reference.
(2) In lieu of participation in the defined-benefit plans, Mr. Pedersen and Mr. Minicucci receive a contribution to
the Company’s defined-contribution plans. Specifically, in lieu of participation in the Salaried Retirement Plan,
Mr. Pedersen and Mr. Minicucci each receive a Company match contribution to the Alaskasaver 401(k) Plan up
to 6% of their eligible wages. In lieu of the Supplementary Retirement Plan, Mr. Pedersen and Mr. Minicucci
participate in the Nonqualified Deferred Compensation Plan, which is further described below.
Salaried Retirement Plan
The Salaried Retirement Plan is a tax-
qualified, defined-benefit retirement plan for
salaried Alaska Airlines employees hired
prior to April 1, 2003. Each of the Named
Executive Officers that participates in the
Plan is fully vested in his accrued benefits
under the Salaried Retirement Plan. Benefits
payable under the Salaried Retirement Plan
are generally based on years of credited
service with the Company and its affiliates
and final average base salary for the five
highest complete and consecutive calendar
ŠProxy
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