Time Warner Cable 2015 Annual Report Download - page 57

would have received under the Time Warner Pension Plan if eligible compensation were limited to $350,000 and
there were no payment restrictions. Messrs. Marcus, Minson and Stern have ceased to be active participants in
the TW Pension Plan and participate in the TWC Pension Plans.
Forms of Benefit Payments
The benefits under the Time Warner Cable Pension Plan are payable as (i) a single life annuity, (ii) a 50%,
75% or 100% joint and survivor annuity, (iii) a life annuity that is guaranteed for 10 years (with certain
participants in the Time Warner Cable Pension Plan eligible for 5- and 15-year guaranteed periods), or (iv) as of
January 1, 2015, a lump sum. Spousal consent is required in certain cases. The participant may elect the form of
benefit payment at the time of retirement. In the case of a single life annuity, the amount of the annuity is based
on the applicable formulas described above. In the case of a joint and survivor annuity, the amount of the annuity
is based on the single life annuity amount but is reduced to take into account the ages of the participant and
beneficiary at the time the annuity payments begin and the percentage elected by the participant. In the case of a
life annuity that is guaranteed for a period of time, the amount of the annuity is based on the single life annuity
amount but is reduced to take into account the guaranteed period. Benefits under the Excess Benefit Plan are
payable only as a lump sum, unless the participant elected to receive monthly installments over 10 years by the
applicable deadline.
Pension Benefits Table
Set forth in the table below is each named executive officer’s years of credited service and the present value
of his accumulated benefit under the TWC Pension Plans computed as of December 31, 2014, the pension plan
measurement date used for financial statement reporting purposes in the Company’s audited consolidated
financial statements for the year ended December 31, 2014. The estimated amounts are based on the assumption
that payments under the TWC Pension Plans will commence upon normal retirement (generally age 65), that the
TWC Pension Plans will continue in force in their forms as of December 31, 2014, that the maximum annual
covered compensation is $350,000 and that no joint and survivor annuity will be payable (which would on an
actuarial basis reduce benefits to the employee but provide benefits to a surviving beneficiary). Amounts
calculated under the pension formula that exceed Internal Revenue Code limits will be paid under the Excess
Benefit Plan from TWC’s assets and are included in the present values shown in the table.
PENSION BENEFITS FOR 2014
Name Plan Name
Number
of Years
Credited
Service(1)
Present
Value of
Accumulated
Benefit(2)
Payments
During
2014
Robert D. Marcus ................. Time Warner Cable Pension Plan 9.4 $ 253,910 $ —
Excess Benefit Plan 9.4 110,280 —
Total 9.4 $ 364,190 $ —
Dinesh C. Jain ................... Time Warner Cable Pension Plan — $ — $ —
Excess Benefit Plan — — —
Total — $ — $ —
Arthur T. Minson, Jr.(3). ............ Time Warner Cable Pension Plan 5.3 $ 109,150 $ —
Excess Benefit Plan 5.3 56,160 —
Total 5.3 $ 165,310 $ —
Marc Lawrence-Apfelbaum ......... Time Warner Cable Pension Plan 24.5 $ 993,680 $ —
Excess Benefit Plan 24.5 423,430 —
Total 24.5 $1,417,110 $ —
Peter C. Stern .................... Time Warner Cable Pension Plan 10.8 $ 221,140 $ —
Excess Benefit Plan 10.8 96,750 —
Total 10.8 $ 317,890 $ —
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