Capital One 2013 Annual Report Download - page 240

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CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 16—EMPLOYEE BENEFIT PLANS
Defined Contribution Plan
We sponsor a contributory Associate Savings Plan (the “Plan”) in which all full-time and part-time associates
over the age of 18 are eligible to participate. We make non-elective contributions to each eligible associate’s
account and match a portion of associate contributions.
We also sponsor a voluntary non-qualified deferred compensation plan in which select groups of employees are
eligible to participate. We make contributions to this plan based on participants’ deferral of salary, bonuses and
other eligible pay. In addition, we match participants’ excess compensation (compensation over the Internal
Revenue Service compensation limit) less deferrals. We contributed a total of $206 million, $167 million and
$151 million to these plans during the years ended December 31, 2013, 2012 and 2011, respectively.
Defined Benefit Pension and Other Postretirement Benefit Plans
We sponsor defined benefit pension plans and other postretirement benefit plans. Pension plans include a legacy
frozen cash balance plan and plans assumed in the North Fork acquisition, including two qualified defined
benefit pension plans and several non-qualified defined benefit pension plans. Our legacy pension plan and the
two qualified pension plans from the North Fork acquisition were merged into a single plan effective
December 31, 2007. Other postretirement benefit plans, including a legacy plan and plans assumed in the
Hibernia and North Fork acquisitions, all of which provide medical and life insurance benefits, were merged into
a single plan effective January 1, 2008. Certain HSBC associates became eligible for postretirement benefits
under our legacy postretirement benefit plans effective May 1, 2012.
Our pension plans and the other postretirement benefit plans are valued using December 31, 2013 and 2012
measurement dates. Our policy is to amortize prior service amounts on a straight-line basis over the average
remaining years of service to full eligibility for benefits of active plan participants.
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