Alaska Airlines and Horizon Air 2012 Annual Report Download - page 78

EXECUTIVE COMPENSATION
PENSION AND OTHER RETIREMENT PLANS
The Company maintains two primary defined-
benefit pension plans covering Named Executive
Officers other than Mr. Pedersen and
Mr. Minicucci. 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 21.84 1,063,717 N/A
Supplementary Retirement Plan 13.92 1,923,148 N/A
Brandon S. Pedersen(2) Salaried Retirement Plan N/A N/A N/A
Supplementary Retirement Plan N/A N/A N/A
Keith Loveless Salaried Retirement Plan 26.42 1,501,906 N/A
Supplementary Retirement Plan 16.57 1,748,316 N/A
Glenn S. Johnson Salaried Retirement Plan 15.74 754,438 N/A
Supplemental Retirement Plan 9.45 1,989,352 N/A
Benito Minicucci(2) Salaried Retirement Plan N/A N/A N/A
Supplemental Retirement Plan N/A N/A N/A
William S. Ayer Salaried Retirement Plan 17.36 1,044,748 N/A
Supplemental Retirement Plan 17.40 2,662,493 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, 2012 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 2012 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.
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