Capital One 2014 Annual Report Download - page 241

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 $214 million, $206 million
and $167 million to these plans during the years ended December 31, 2014, 2013 and 2012, 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.
Our pension plans and the other postretirement benefit plans are valued using December 31, 2014 and 2013
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.
The following table sets forth, on an aggregated basis, changes in the benefit obligation and plan assets, the funded
status and how the funded status is recognized on our consolidated balance sheets.
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CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Capital One Financial Corporation (COF)